Mary Lou McDonald (Dublin Central, Sinn Fein) | Oireachtas source

Here is the problem, Governor. An issue arose; it had to be independently adjudicated on - we absolutely agree on that - but it was adjudicated on by a firm that was subsequently used by the Central Bank to address the issues in the audit report. I have no doubt that the same firm does a myriad of other work for the bank.

That gives rise to a question regarding the capacity to really rigorously and independently make a judgment on a very sensitive disclosure. The final report is by no means definitive in acclaiming the rightness of the actions of the Central Bank. Professor Lane is correct in stating that the whistleblower has an action before the Workplace Relations Commission. We are limited in what we can say on that. However, what I can tell the Governor is that the individual in question took a second case against Pioneer Global Investment Management limited - the second employer - in respect of wrongful dismissal and actually won it just after Christmas. There is a major concern here regarding the quality of internal governance. The Governor referred to the culture of organisations. What is that culture? Is it to ballyrag people if they step forward and are critical? Is it the culture of the Central Bank to let people go if it does not like what they are saying? Is that the culture and, if so, what does Professor Lane propose to do about it?