Oireachtas Joint and Select Committees

Wednesday, 17 December 2014

Committee of Inquiry into the Banking Crisis

Context Phase

2:50 am

Photo of Sean BarrettSean Barrett (Independent) | Oireachtas source

My final question relates to the advice given by the auditors. Mr. Nyberg says in his report that the advice given, including by auditors, was that banks were solvent at the end of September 2008. Are there precedents in other countries or in the private sector for people engaging in litigation against accountants on the basis that the accounts did not represent, in the event, a true and fair reflection of the financial affairs of the companies in question?

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