James Reilly (Dublin North, Fine Gael) | Oireachtas source

The section as drafted provides for the appointment of not fewer than four people who have the relevant skills and experience to perform the functions of the audit committee established under the Bill. These functions include advising the Director General on financial matters relating to his or her functions, risk management and other related matters. I understand the Senator?s purpose and logic in bringing forward this amendment. However, in view of the committees overall functions, I am anxious not to limit the criteria for membership and consider that the particular qualifications set out in the Senator?s proposed amendment are encompassed in the current wording which refers to relevant skills and experience. I, therefore, do not propose to accept the amendment.

In regard to section 17 which provides for the audit committee, I would, however, like to indicate that I may be bringing some technical amendments on Report Stage to clarify a reference to risk management and some other arrangements in relation to the committee.