Results 1-4 of 4 for mick wallace nama segment:6853378

Other Questions: NAMA Operations (5 Jul 2017)

Mick Wallace: According to the NAMA Act, the overall objective of NAMA was to bring stability to the banking system by removing impaired loans from bank balance sheets; it was never set up to make a profit. It would have to get back over €74 billion to make a profit. The Minister is saying the EU directive requires that certain companies, including NAMA, must be audited by a statutory auditor...

Other Questions: NAMA Operations (5 Jul 2017)

Mick Wallace: ...Mazars. Article 14 of the EU directive which deals with statutory auditors states, "In exceptional circumstances, Member States may derogate from the requirements laid down in this Article ...". NAMA has always been an exception, dating back to 2009 when the European Commission gave it a special exemption to receive state aid. Will the Minister tell us whether his Department sought an...

Other Questions: NAMA Operations (5 Jul 2017)

Mick Wallace: 24. To ask the Minister for Finance further to the recent announcement by NAMA of the appointment of a company (details supplied) as statutory auditor, the role played by his Department in this decision; the advice his Department and NAMA sought on this decision; if the Office of the Comptroller and Auditor General was consulted about the decision; if he has satisfied himself that the...

Other Questions: NAMA Operations (5 Jul 2017)

Mick Wallace: My question relates to the appointment of a second auditor to NAMA arising from the EU audit directive. I have some questions about the process involved. When did this matter first arise? Will the Minister outline the advice his Department and NAMA received on the decision? Was the Comptroller and Auditor General engaged at all times in decision-making? If legal advice was sought from...