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Public Accounts Committee: Business of Committee (29 Sep 2016)

Alan Kelly: It is not locked down.

Public Accounts Committee: Business of Committee (29 Sep 2016)

Alan Kelly: We can review it after today.

Public Accounts Committee: Business of Committee (29 Sep 2016)

Alan Kelly: I had a phone call.

Public Accounts Committee: Business of Committee (29 Sep 2016)

Alan Kelly: I have made that quite public. I referred the person who made that offer to the Chair.

Public Accounts Committee: Business of Committee (29 Sep 2016)

Alan Kelly: I think-----

Public Accounts Committee: Business of Committee (29 Sep 2016)

Alan Kelly: I referred the person in question to the Chair. I did not hear anything back.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: I have a number of questions. I will not be repeating what was said. I will be going on from what my colleagues have said. I wish to compliment the Comptroller and Auditor General on his report. That needs to be said. Earlier, Deputy Burke made some comments and teased out the question of the £190 million. From an auditing point of view, there is a view in respect of the work...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: What is the margin around that figure?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: If it is impossible to project the margin around it, how was it possible to create the £190 million figure?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: It is an auditing figure, but there is a business risk issue that could vary that figure.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: How?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Can Mr. McCarthy give us his best estimate using percentages?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: That is the biggest failure here. Is that correct?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: It is a fair assumption of this committee to hold that the £190 million is not absolute and that there could be variance either way on it. Is that fair?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Again, this committee can assume that the £190 million is not absolute and that there could be a variance on it either way.

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: I know that, I simply wanted to establish that. The Comptroller and Auditor General has brought new information before the committee today which is interesting. It relates to the process by which the Comptroller and Auditor General challenges himself, which is welcome. What did Mr. McCarthy find out from the UK National Audit Office and the former secretary and director of audit through...

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: This committee has established that as a key component and we will debate that with NAMA representatives later. What was the time difference from the first challenge from the UK and second from the director? Was the second challenge that Mr. McCarthy put in place - which I welcome - as a result of the issues that the first challenge brought about?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: In other words, was Mr. McCarthy double-checking or was it that Mr. McCarthy took the view it was prudent to do another challenge?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: Did the second challenge bring up issues that were different to the first?

Public Accounts Committee: Special Report No. 94 of the Comptroller and Auditor General: National Asset Management Agency Sale of Project Eagle (29 Sep 2016)

Alan Kelly: I will keep going. Have NAMA representatives ever before taken issue with the expertise in the Office of the Comptroller and Auditor General?

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