Oireachtas Joint and Select Committees

Wednesday, 20 May 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Dargan Fitzgerald:

Understood. But again, the materiality that the auditors choose does not of itself, in principle, effect the provision. The provisioning is entirely carried out in the first instance by the society. And I must say in EBS case, there was a very structured methodology and a very structured approach to calculating all the relevant provisions.

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