I have to say that this guy Saul makes me laugh. He is a perfect example of what is wrong with this country. It's never 'my' fault. It's always someone elses. These guys were paid handsome director fees to do a job.
I think the point Saul was making is that just replacing the Board wouldn't address the underlying problems. Any culture in which it's apparently acceptable to misinform the Board has a serious problem and changing the culture is primarily the function of the new Director General.
I think the point Saul was making is that just replacing the Board wouldn't address the underlying problems. Any culture in which it's apparently acceptable to misinform the Board has a serious problem and changing the culture is primarily the function of the new Director General.
In fairness to the Board, their functions, insofar as they relate to FAS, are part time and their remuneration is fairly low by comparision with the full time executive of FAS. The Board members from the Government departments don't even get any pay for their services.
I think the point Saul was making is that just replacing the Board wouldn't address the underlying problems. Any culture in which it's apparently acceptable to misinform the Board has a serious problem and changing the culture is primarily the function of the new Director General.
In fairness to the Board, their functions, insofar as they relate to FAS, are part time and their remuneration is fairly low by comparision with the full time executive of FAS. The Board members from the Government departments don't even get any pay for their services.
€14,000 a year for a part time job is not fairly low in my opinion. The board of directors were part of the culture in FAS. It was a cosy job for members of the social partners. Accepting a position as Director of a company comes with responsibilities. Niall Saul himself, as head of internal audit committee knew there were problems as far back as 2007. And yet it took the Sunday Independent to get to the bottom of how bad things were. The board were happy to keep turning up at meetings, get their fees and gifts, maybe a nice cup of tea and a fairycake.
Indeed, Rossy does deserve credit for his work at FAS. But let's not forget his trojan defence of Fingers over at Irish Nationwide for years. Rossy was the one journo that gave positive coverage to Fingers, and now NAMA is paying an €8bn price for the end result.a lot of credit is due to Shane Ross for his articles over the last number of years concerning not only FAS but also Auctioneers & the banks. i vaguely remember an article of his some years back on corporate governance and he mentioned listed Irish Companies where the Chairman and CEO were either the same person or where the CEO moved sideways into the role of Chairman - Sean Fitzpatrick at Anglo being one of the examples used
The FAS board members should have resigned, though I really doubt that there is much they could have done to prevent lies. Maybe those who feel that they should have had more 'checks and balances' could outline what kind of checks and balances would have prevented the current situation?
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