PAC Meeting | June 11, 2015
PRELUDE [Extract]
Deputy John Deasy: I want to return to NAMA and an issue that was raised on the floor yesterday during the debate on IBRC. I have a question about the ongoing monitoring and oversight of NAMA by the Comptroller and Auditor General's staff. How many members of staff are embedded in dealing with NAMA on a permanent basis? What oversight, monitoring and reporting does this entail?
Mr. Seamus McCarthy [C&AG]: The team comprises seven whole-time equivalents over a year. We may have a dozen people at a particular time if we need more bodies, but it equates to having seven full-time people. There is a very high level of engagement in the course of planning and carrying out the audit and reporting back any issues which we discover. The director of audit attends at least part of almost all the audit committee meetings. It is a very rigorous engagement. I will come back to the Deputy with more detail on it.
Deputy John Deasy: Information on John Deasy Zoom on John Deasy Has this been the case since day one-----
Seamus McCarthy: It has, yes.
Deputy John Deasy: Information on John Deasy Zoom on John Deasy -----when the NAMA Act was passed and enacted?
Seamus McCarthy: Yes.
PRELUDE [Extract]
Deputy John Deasy: I want to return to NAMA and an issue that was raised on the floor yesterday during the debate on IBRC. I have a question about the ongoing monitoring and oversight of NAMA by the Comptroller and Auditor General's staff. How many members of staff are embedded in dealing with NAMA on a permanent basis? What oversight, monitoring and reporting does this entail?
Mr. Seamus McCarthy [C&AG]: The team comprises seven whole-time equivalents over a year. We may have a dozen people at a particular time if we need more bodies, but it equates to having seven full-time people. There is a very high level of engagement in the course of planning and carrying out the audit and reporting back any issues which we discover. The director of audit attends at least part of almost all the audit committee meetings. It is a very rigorous engagement. I will come back to the Deputy with more detail on it.
Deputy John Deasy: Information on John Deasy Zoom on John Deasy Has this been the case since day one-----
Seamus McCarthy: It has, yes.
Deputy John Deasy: Information on John Deasy Zoom on John Deasy -----when the NAMA Act was passed and enacted?
Seamus McCarthy: Yes.
