Companies involved with FAS could be examined
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COMPANIES which signed hugely profitable contracts with FAS could be in line for examination by the Director of Corporate Enforcement.
To date, the investigation into the management of funds at FAS has centred on the State agency, but a call has now been made for the records of external companies to be examined too.
This could shed more light on the flow of money into and out of FAS accounts.
Vice-chairperson of the Dail's Public Accounts Committee (PAC) Darragh O'Brien told the Herald that he will be pushing for private companies to investigate in light of the recent scandals.
"In the procurement and award of big contracts, State agencies have been involved with private companies.
"There have been some questionable business practices taking place and we need to look at both sides," he said.
Mr O'Brien used the example of dealings between State agencies and financial companies.
"In such a case, if we think there is some problem then we should inform the Director of Corporate Enforcement, who should ask the Financial Regulator to investigate."
He noted that PAC investigation was restricted to public bodies and could not extend its reach into the private sector.
And he told the Herald that a number of State agencies have a history of not following proper tender procedures when awarding contracts.
- Kevin Doyle
