Oireachtas Joint and Select Committees

Wednesday, 20 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Dargan Fitzgerald:

Certainly. So the audit opinion spans typically two pages and "in a nutshell" is possibly slightly challenging, as it actually covers a number of different statutory and legal requirements. The principle of those is that it confirms that the financial statements have been prepared, in our opinion, fully in compliance with international financial reporting standards. It also complies ... it also confirms that the financial statements are reported in a framework fully in compliance with relevant company law. In this ... in this case, relevant law may include building societies Acts, given that it was a building society.

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