Commenting on the Public Accounts Committee decision, David Ford said: “The PAC has an extremely important role in scrutiny of how public money is spent.
“There can be very little accountability in this committee now, since it will be chaired by an MLA from an Executive party.
“The SDLP and Sinn Fein have talked in the past about inclusivity. Now, they are grabbing everything they can get, with little thought being given to accountability in the Assembly.
“We have had years of dictatorial governance from Direct Rule Ministers. If accountability in the PAC is sacrificed, this trend of bad governance may continue.
“Local people will be disgusted that this watchdog for their money is not being given sharp teeth. How can people now have confidence in public expenditure after Sinn Fein and the SDLP have refused to allow accountable governance.”