A number of further settlements with the Revenue Commissioners arising from its DIRT look-back audit of financial institutions are likely tomorrow and Wednesday, according to sources.
However all the institutions which held significant proportions of the non-resident deposit market during the period have already made announcements and it is likely any further settlements will be for relatively small amounts.
On Wednesday a report detailing the results of the Revenue's audit into the 37 non-resident deposit-holding institutions in the period 1986 to 1999 is to be given to the Dail Public Accounts Committee (PAC). It is thought most institutions which will be making settlements will want to make announcements by then.
The settlements announced to date will net the Exchequer £163.8 million (€207.98). AIB made the largest settlement, £90.04 million.
The report to the PAC will detail the methodology used by the Revenue. It is not thought it will include new detailed material on how individual banks dealt with bogus non-resident account during the period.
The Revenue chairman, Mr Dermot Quigley, will be questioned by members of the PAC sub-committee investigating the scandal when it resumes its public hearings on November 30th.
He will be asked about the content of the report and also, most likely, about the Revenue's intentions in relation to the individuals who had the bogus non-resident accounts which lie behind the results of the Revenue's audits.
He is also likely to be asked about the review by the Department of Finance of the Revenue, and especially his views on a number of non-executive directors being appointed to a new Revenue board.
PAC member Mr Pat Rabbitte has said the sub-committee will be hearing a "comprehensive report" on the audit and related matters from Mr Quigley.
The sub-committee will be meeting in private before the hearings resume in order to decide where the focus should lie for its resumed public hearings.
Among the matters to be decided is whether it will recall senior executives of the major institutions. The committee chairman, Mr Jim Mitchell, has made repeated calls for the institutions to make an "act of restitution" and the committee may wish to tease out the institutions' views on this and other matters.
The committee will itself be publishing another report - an evaluation of all that has happened since its first report, including the results of the look-back audit, proposals for changes in the law, in the Revenue Commissioners, the Department of Finance, the Central Bank and the Oireachtas.
