Oireachtas Joint and Select Committees

Wednesday, 2 September 2015

Committee of Inquiry into the Banking Crisis

Nexus Phase

Mr. John Stanley Purcell:

Well, there was a detailed set of accounts provided to every board meeting and, generally, when the accounts were considered by the directors, I would be asked for comments on them. Sometimes I was able to maybe put a paper in about something beforehand but generally I gave a verbal report on the accounts. There was a lot of information provided to the board and the board pack grew over the years because what would happen is somebody would say, "Well, you know, I want a report on something" ... "Well, you know, do it every quarter, do it every month." So there was a sort of a growth in it that people were used to. They didn't ... sometimes didn't want me to excise reports, you know, they wanted it left there and maybe, after a while, there was a lot of stuff there. But the board members were able to work through it, and probably it was a good recommendation at the time that the thing be looked at again.

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