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
Imelda Munster (Louth, Sinn Fein) | Oireachtas source
Given my limited time I will concentrate on the Comptroller and Auditor General's report. It was quite a thorough report which made for a shocking read. I refer to the litany of mistakes, the oversights, the lack of transparency around record-keeping and the lack of adherence to guidelines and best practice. This morning's statement from NAMA disputes much of what was identified in the report as poor practice. That is quite astonishing. Is Mr. McDonagh seriously suggesting that because a profit was made overall on the Avestus loan bundles that the glaring errors made in Project Nantes are therefore irrelevant? Making a mess of one thing is not cancelled out because NAMA did not make a mess of everything. Does Mr. McDonagh accept that?
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