NAMA to face scrutiny of state’s auditor

THE Government’s proposed giant ‘bad bank’ will be subject to scrutiny by the State’s spending watchdog, Minister for Finance Brian Lenihan has indicated.

Planned legislation for the National Asset Management Agency (NAMA) is expected to include agreement that the body can be audited by the Comptroller and Auditor General (C&AG) .

Mr Lenihan said the Government has agreed, in practice, that the C&AG’s office will play a role in monitoring NAMA.