Oireachtas Joint and Select Committees

Thursday, 14 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Paul Dobey:

No, no, the next year you would have looked at it again and we would have expected them to do it differently and to follow through on this recommendation. And in our management letters, when we raise management letter points, we'd raise them in one year, the following year we'd look, if the matter came up again we'd highlight it again. If there was an action from the previous year that wasn't dealt with, we'd capture that as an action that wasn't dealt with, and the chairman of the AIB audit committee at the time was very focused on items getting resolved on a timely basis. So one of his key metrics as chair of the audit committee was; how many items did internal audit raise, how many items did external audit raise ... and is management dealing with those matters on a timely basis? And that would have been, you know, about an appropriate control environment.

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