For more than 100 years, the Committee of Public Accounts, more commonly referred to as PAC, has cast an impartial and forensic eye on how State money is spent.
The PAC provides a parliamentary forum to pursue accountability for the public finances, publicly examining issues of concern around public expenditure or services identified by members from their own knowledge of public administration or by the C&AG.
This transparent approach to accountability is central to our parliamentary democracy, bring public transparency and accountability to spending that helps to build public trust in the work of public agencies.
Value for money
The DIRT inquiry
In the late 1990s, after reports emerged of financial institutions using bogus non-resident accounts as a way to avoid paying Deposit Interest Retention Tax (DIRT) with the possible knowledge of the Revenue Commissioners, the PAC recommended that the C&AG conduct an inquiry.
A special sub-committee of the PAC was established to focus on the C&AG’s report.
The inquiry lasted for six weeks, between 31 August 1999 and 12 October 1999, calling 142 witnesses.
The inquiry cost in the region of £2.4 million but it recouped £352 million in outstanding taxes. As a result of the findings of this inquiry, subsequent Finance Acts required individuals to provide proof of their residency status.