Oireachtas Joint and Select Committees
Thursday, 10 November 2016
Public Accounts Committee
Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (Resumed)
9:00 am
Ms Ann Nolan:
It is very difficult to answer for people's impressions. One can only answer in relation to things one has actually said. If people take a particular impression from it that is another matter. In regard to oversight, the Act is very clear. The role of the Comptroller and Auditor General, which the Deputy probably underestimated, is very important. The Comptroller and Auditor General is the auditor for NAMA. He has people embedded in NAMA but in an auditing capacity and not in terms of oversight of everything NAMA does because it would be improper of him to be acting as a shadow-director. The board of NAMA is responsible for the actions of NAMA. At the point when the Department found out about Mr. Cushnahan and the PIMCO fee, Mr. Cushnahan was no longer on the advisory board and, therefore, the question of taking action to remove him from it did not arise.
I am not familiar with what exactly the Minister said in terms of referring a Deputy to go to the Garda Síochána if he had information in relation to wrongdoing but I would certainly recommend that action if the Deputy has information of wrongdoing.
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