Oireachtas Joint and Select Committees

Wednesday, 1 July 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Photo of Ciarán LynchCiarán Lynch (Cork South Central, Labour) | Oireachtas source

Okay, it's about the independence, I just want to stick with the independence of the body. Are you aware that their biggest funders are the four biggest accountancy firms, PwC, KPMG, E and Y, and Deloitte, who last year contributed $2.5 million each. Ireland's Central Bank and Financial Services Authority gave £6,000 sterling. So how independent are they actually, given that the agencies that are carrying out the tasks are funding the structure that does the regulation? So, given your statement that you're saying they are independent, given that funding structure-----

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