Oireachtas Joint and Select Committees
Thursday, 14 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. Paul Dobey:
Yes, it is our responsibility in relation ... I should've clarified, the analogy was too simple, right. We were keeping the score in relation to historic financial statements and as Mr. O'Rourke said earlier, we also had a responsibility to assess whether the going concern based on preparation of financial statements was appropriate. It was in the context of the going concern based on the financial statements which was a future looking thing and maybe that's not keeping the score, right? That's assessing what the score might be at the end of the game, right? And we're only at half-time. We had to go and make an assessment and get assurances from the system, if I put it that way, the Department, the regulator, the Central Bank, around the going concern basis of preparation.
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