Sean Barrett (Independent) | Oireachtas source

Thank you, Chairman, and welcome again to Mr. Fingleton. On the internal audits, if I may discuss that with you ... in their 2005 report, KPMG stated:

The existing internal audit function is not best practice. ... In particular it lacks the depth of experience necessary to challenge ... areas of key risk which includes Treasury and Commercial Lending.

And in their management letter in 2008, they stated: "The Society's Internal Audit department needs to build up ... experience and training in order to perform reviews of key risks areas which are currently outsourced to a third party service provider." I think they had concerns in 2004 and I think they had concerns in 1999. So, how would you respond to those critiques?