Oireachtas Joint and Select Committees

Tuesday, 16 October 2012

Joint Oireachtas Committee on Jobs, Enterprise and Innovation

Scrutiny of EU Legislative Proposals: COM (2011) 778 and COM (2011) 779

2:25 pm

Photo of Peadar TóibínPeadar Tóibín (Meath West, Sinn Fein) | Oireachtas source

The auditors were supposed to indicate whether a bank would be a going concern for the following year. Some of the banks covered were audited and within six months they had collapsed. This demonstrates that the auditors did not fulfil their responsibilities. That is beyond a shadow of doubt and it is a costly fact.

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