Shane Ross (Independent)

Senator Regan put his finger on a problem. It is not necessarily specific to these solicitors, but the House might address it at some stage. On the same type of issue, I am astonished at the number of times PricewaterhouseCoopers comes up in the banking issue. It is banker to the Bank of Ireland. It received an audit fee of €15 million from the Bank of Ireland a couple of years ago, which is a phenomenal leverage to have on a bank. It is being appointed to various consultancy briefs by the Government, particularly looking into the banks here.

It is obvious that all these legal and accountancy firms are deeply conflicted on the issue of banking here. The defence is that we are a small country and only very few accountancy and solicitors firms have the calibre, clout, ability and resources to investigate or to serve on an issue of this sort. The solution may be as follows. I do not believe in Chinese walls so it is not fair to say they separate their structures. I do not believe that ever happens in Ireland or elsewhere. We ought to look to companies, firms and service providers that are independent. We ought to look to those with no axe to grind. We ought to look to people and companies outside the State who are truly independent if we want this to be done. Otherwise as Senator Regan implies, these people will be proven at some stage in the future to have conflicts. Then there will be question marks over not just the banks but also those sent in as independent arbiters. They will be questioned.