John Paul Phelan (Carlow-Kilkenny, Fine Gael) | Oireachtas source

I wish to turn to Mr. Nyberg's comments today and in the report on the role of external auditors. Pages 51 to 58, inclusive, in the report reference their role. I will quote him directly today and it is not contained in the document. He said they did not know "more or less" than other groups and further on he said they were "no better or worse" than other professionals and ideally all should have known better, both in Ireland and in other countries.

In light of the fact that the role of external auditors is to protect the interests of shareholders and investors, but in this case deposit holders, and wider State interests, was Mr. Nyberg not surprised that they did not know more than, maybe leaving aside the regulator, certain other participants in the banking crisis?