Oireachtas Joint and Select Committees

Wednesday, 20 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. John McDonnell:

In terms of our audit of that period, we would have taken into account all developments right up to the date on which we signed the financial statements and you will find that the audit committee meeting, I would say but I just can't recall, was probably two or three days before the financial statements were signed and at that meeting there was a very fulsome discussion around the going concern, a very detailed paper produced by management, a very fulsome discussion between ourselves, management, the audit committee around the appropriateness of the going concern concept.

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