Oireachtas Joint and Select Committees

Thursday, 8 October 2020

Public Accounts Committee

Special Report 109 of the Comptroller and Auditor General: National Asset Management Agency
National Asset Management Agency - Financial Statements 2019

11:30 am

Mr. Brendan McDonagh:

That is fine. The Deputy can say that. I will not say that. In terms of procedures and as a result of our previous appearance in front of the committee we have put a chief legal officer in place in NAMA. We have started a process of going back through transactions to look at documentation around them and have done quite an involved exercise on the biggest asset sales that happened in NAMA, which is still ongoing. There are check processes around this, going back and looking at things like this. We are at the later stages of that and have not uncovered anything unusual or something like this. I wish to give the committee that assurance. It shows again that when the committee makes a suggestion to us we take it on board. We try to do supplemental checks we are legally entitled to do. That is the important thing. We cannot do something or make allegations against people but we try to re-establish the facts and make sure they were what we were told at the time.

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