Sean Barrett (Independent) | Oireachtas source

Of Vol. 1. What that states ... the audit ... 2.5 years, virtually, later than when Jim O'Leary made his comment in January 2004, the audit in 2006:

The audit did not include an assessment of property related credit quality. In addition we did not raise an issue around the management of concentration risk at a Group level as this was raised in a previous audit of the Credit Framework in 2005.

Given that we now know this is what brought the bank down, wasn't it a remarkably complacent response to the concerns of Jim O'Leary?