Oireachtas Joint and Select Committees
Thursday, 14 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Terence O'Rourke:
Well, the key person is the partner because the partner is the person who directs the audit and the partner is the person, at the end of the day, who expresses the opinion and decides whether they're going to sign the audit report or not.
The rotation was that partners ... would spend no more than five years in charge of the AIB audit. As it happened, the auditor who, when we were appointed auditor in 2002, the partner who was in charge of the audit retired about three or four years later so he didn't do it five years. And then somebody, Paul, did it for five years after that-----
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