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

Mr. Cullen, you referenced the Nyberg report. We have had discussions with Mr. Nyberg and others, who have referenced this report as well. I want to put to you a particular passage which is well known and has been discussed at this committee before. Page 56 of this report, paragraph 3.6.2. The quote is as follows, "The Commission would have expected a bank auditor, exercising necessary professional scepticism, to have concerns where there were growing property and funding exposures, combined with material governance failings." Do either of you believe that that criticism or that comment has application in terms of the role that Deloitte had, in terms of auditing Ulster Bank Ireland?