Oireachtas Joint and Select Committees

Tuesday, 3 July 2018

Joint Oireachtas Committee on Finance, Public Expenditure and Reform, and Taoiseach

Role and Operation of National Development Finance Agency: Discussion

1:30 pm

Photo of Pearse DohertyPearse Doherty (Donegal, Sinn Fein) | Oireachtas source

On that point, a damning report came out from the House of Commons this week which castigated the big four accountancy firms - KPMG and also the other three - because all of them were involved in work with Carillion. While the impact here has been severe in terms of the disruption to these school projects and, as we have discussed, the issue of subcontractors providing services and not being paid for them, it has been harder felt with the loss of jobs in Britain. The House of Commons committee has called for the breakup of the big four. Given the witnesses' comments before our committee today, we could at least expect that the NDFA to report the companies to their regulatory body. In my view, there should be a case taken against them. I ask the witnesses to consider both options - the one the Chair mentioned and, as an initial step, reporting them to the Chartered Accountants Regulatory Board, CARB.

As to the reliance on auditors, how many PPP projects does the NDFA oversee?

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