Oireachtas Joint and Select Committees
Tuesday, 16 October 2012
Joint Oireachtas Committee on Jobs, Enterprise and Innovation
Scrutiny of EU Legislative Proposals: COM (2011) 778 and COM (2011) 779
2:15 pm
David Cullinane (Sinn Fein)
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It is fair to point out that much of the commentary was not simply in respect of the failures of auditors but on a systemic problem generally that involved the Central Bank and the Financial Regulator. That is what the Nyberg report stated, namely, it was not simply in respect of auditing. Consequently, members' comments should be put into that context. I believe there was a failure in respect of auditing because of the unhealthy relationship that exists between the bigger auditing companies and the bigger banks in this country.