Oireachtas Joint and Select Committees
Wednesday, 20 May 2015
Committee of Inquiry into the Banking Crisis
Nexus Phase
Mr. John McDonnell:
No, we ... we were seeking to get audit evidence. So, we're sitting doing audit opinion on a set of financial statements and we are looking at the applicability, the going concern concept, we are looking at disclosure in the financial statements and we're looking at the bank's ability to have appropriate liquidity. The bank was very, very dependent on the ECB and we needed to ensure that that dependency ... that the ECB would provide liquidity to the bank over the horizon that we were meant to look at for going concern, which is a year. And, therefore, we asked the ECB would ... would they confirm that and they confirmed that to us. It was us gathering audit evidence. That was our role.
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