Michael McGrath (Cork South Central, Fianna Fail) | Oireachtas source

Mr. Walsh, you are very welcome. Can I start by asking you about KPMG's annual statutory duty confirmation letters to the Financial Regulator for each of the years 2004 to 2007, inclusive? And they are in the booklets in Vol 1. And they note instances of breaches and errors in each of the sectoral returns, prudential returns and large exposures reports made by INBS to the regulator. Can I ask why, in your opinion, did these breaches occur and these errors? In your view, in view of the fact that the breaches occurred repeatedly over a number of years, were they indicative of systemic weaknesses in the control and reporting environment within INBS?