Tuesday, 5 March 2013

Questions (170)

Pearse Doherty


170. Deputy Pearse Doherty asked the Minister for Finance if any State contracts had been provided to Ernst and Young since 2011; and if so, if he will list the contract details and value. [11448/13]

View answer

Written answers (Question to Finance)

I can only reply in respect of my Department and the offices/agencies under the aegis of my Department. My Department has not provided any State contracts to Ernst and Young since 2011. Regarding offices/agencies under the aegis of this Department the position is as follows:

National Asset Management Agency (NAMA)







Ernst & Young were appointed to the following professional service panels to provide advice to NAMA following competitive tenders:

- Loan valuation and related due diligence

- Advisory services in connection with review and evaluation of borrower business plans

- Insolvency advice

- Credit Verification (Investigative) Services

The members of these panels can be called upon to provide professional advice to NAMA as required. The value of services provided to NAMA since 2011 by Ernst & Young relates in the main to loan valuation and due diligence arising in the context of NAMA’s acquisition and valuation of loans.

National Treasury Management Agency (NTMA)

The information in respect of contracts awarded by the NTMA (excluding NAMA) to Ernst and Young from 1 January 2011 to 1 March 2013 is set out below:

Year Contract Awarded

Description of Services

Contract Value (Ex VAT)


Professional services in relation to the liquidation of Ulysses Securitisation plc


The Office of the Revenue Commissioners and the Office of the Comptroller and Auditor General did not issue any contracts to Ernst & Young during the period in question.