Oireachtas Joint and Select Committees

Wednesday, 2 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. Michael Walsh:

Sorry, I think if you're talking about the changing in the accounting standards, that was a matter of, you know, discussion both at the board level and, indeed - I can't remember which year it was now - but at the annual general meeting following the change one of the members, who was obviously kind of very financially literate, started to actually ask questions in relation to that. I expressed the view, as chairman of the society, that I didn't think the changes were appropriate but, you know, the changes were the changes. They were the rules and the society had to implement them.

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