September 15, 2022
Public Accounts Committee seeks further information behind IBRC Commission of Investigation – Brian Stanley TD

Sinn Féin TD and Chairperson of the Public Accounts Committee Brian Stanley has called for a full breakdown of all costs associated with the Commission of Investigation on the Siteserv transaction.

Deputy Stanley outlined at the Public Accounts Committee (PAC) that such investigations and tribunals are of significant public interest and greater examination is needed into the timeframes, costs and outcomes associated with such reports.

Teachta Stanley said:

“I proposed that the PAC ask the Department of Public Expenditure to provide the committee with the total cost of all tribunals, investigations and inquiries over the past 25 years.

“We see millions of public money being spent on such investigations, without anyone being held to account.

“It is bad enough that taxpayers have to pay the bill for the actions of certain individuals, but they are also hit with millions in costs for expensive investigations and tribunals.

“As Chair of the PAC, I am demanding that such matters are investigated in a timely and less expensive manner. Greater use needs to be made of An Garda Síochána and the white collar crime unit.

“It has taken seven years to complete and publish the report on the Commission of Investigation into the sale of Siteserv by IRCB in 2012 at an expected cost of €30m. That is completely unacceptable.

“The Commission of Investigation Act was introduced as an attempt to reduce legal costs and move away from the expensive nature of tribunals. Yet, we are faced with another huge bill.

“The public want to see allegations of corporate wrongdoing investigated and they want to see outcomes and actions. However, it’s difficult to see how the current practice provides value for money.

“The PAC will also be contacting the Taoiseach’s office in this regard.” 

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