Oireachtas Joint and Select Committees

Thursday, 12 July 2018

Public Accounts Committee

2016 Annual Report of the Comptroller and Auditor General and Appropriation Accounts
Chapter 23: Accounts of the National Treasury Management Agency
National Treasury Management Agency: Financial Statements 2017

9:00 am

Mr. Conor O'Kelly:

The vendor had teams of people in the NTMA, in Treasury Building, building these systems and working with us to build this new system throughout this period and they were getting paid along the way as they hit various milestones. At some stage, we became uncomfortable with the standards that were being achieved and we felt it was not going to be good enough for what we needed. It is such a critical system for us we could not afford to take any risk with it. It was not meeting the standards. We gave the company a couple of opportunities to come back and deliver the kind of standards we wanted. We had paid the bill to date and that ultimately had to be written off because the system-----

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