Marc MacSharry (Fianna Fail) | Oireachtas source

The Project Harmony report states:

The overall approach to risk assessment would not be described as highly developed given that the group continues to rely heavily on the managing director, does not have sophisticated IT systems and operates across a limited range of products. The modus operandiwould be described by management as fit for purpose, particularly given the degree of board oversight on the lending approval process.

Can you explain why you consider, and if you do, such a modus operandito be fit for purpose for a financial institution with a balance sheet of €16 billion in size by the end of 2007?