At NAMA 'Effective Controls Should Operate in the Background Not in the Foreground'
The NAMA review stated that the Board is comprised predominantly of directors with control rather than entrepreneurial backgrounds. It said that the Chief Executive “manages an extraordinary level of administration and is not liberated to focus on the more strategic or entrepreneurial aspects of the role”.
Efficient and effective controls need to be robustly maintained, but these should always operate in the background, not the foreground, and should not become an end in themselves. Their function should be to support, not inhibit, the business.
The full report can be accessed at http://www.nama.ie