James Reilly (Fine Gael) | Oireachtas source

I thank Mr. Sisk for his presentation. Carrying on from what the previous speaker was referring to, there was considerable concern during the financial meltdown that many firms that had been audited and given clean bills of health were subsequently found to be anything but secure. Is it the purpose of this organisation, IAASA, that Mr. Sisk mentions to audit the auditors and conduct spot checks? What Mr. Sisk told us about the change in the law is interesting. It will give some succour to the public to have more faith that there is a watchdog overseeing all of this. Clearly, the regulations and practices in the past failed miserably to address this issue. Has Mr. Sisk any comment to make on that?