Pearse Doherty (Donegal South West, Sinn Fein) | Oireachtas source

Thank you very much agus fáilte roimh an beirt. In the EBS building society 2008 audited reports under the heading: ''Significant Accounting and Auditing Issues'', Ernst and Young states and I quote:

Given [the] current market conditions, there is an increased likelihood that borrowers will be unable to repay loans. Should there be a default on a loan, there is an additional risk that the collateral securing the loan is insufficient. Provisioning [in this area - sorry provisioning] is an area of judgement and estimation ...

And it goes on. So, with that in mind, did Ernst and Young ever perform a review of the valuations received for assets offered as security? And were E and Y satisfied with the valuation policy?