Caoimhghín Ó Caoláin (Cavan-Monaghan, Sinn Fein)
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Question 100: To ask the Minister for Finance the criteria that were applied in the tendering process for auditing firms to the National Asset Management Agency; his views following the questions that are now being asked about some of those auditing firms; if that tendering process served its purpose or if the contracts should be re-advertised. [17093/10]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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In accordance with public procurement procedures, the selection of a particular service provider must be advertised in accordance with standard procurement processes through www.etenders.gov.ie, the website for Irish public tenders. I am advised that the process in respect of all service providers for NAMA was fully compliant with public procurement procedures.

It is important to note that under public procurement procedures, a firm or company cannot be excluded from the process unless that firm is conflicted or has been convicted of an offence in relation to professional misconduct or otherwise been guilty of proven grave professional misconduct. To exclude any firm on grounds that are not in accord with procurement regulations could result in sanction from the EU Commission or lead to the excluded firm taking legal action on foot of the exclusion. The Deputy raised certain issues in relation to audit during the recent Dáil questions on banking developments. As I agreed, these questions have been brought to the attention of the banking inquiry, in the context of its preliminary investigation into the crisis in the banking sector in Ireland. The views of NAMA have also been sought.