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

Photo of David CullinaneDavid Cullinane (Waterford, Sinn Fein) | Oireachtas source

I have to interrupt. I find it incredible. When NAMA was here, we were subject to much discussion about the lack of expertise in the Comptroller and Auditor General's office about how things work and market sales. This is not about whether or not it would have materialised. At a point in time, one arrives at a value, which is based on the value of the assets, income generated from the assets, cashflows and all the rest of it. That is what the Comptroller and Auditor General did in his report. He examined it at a point in time. Things can happen and circumstances can change. If Ms Nolan does not understand this simple concept, it worries me.

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