Oireachtas Joint and Select Committees
Wednesday, 17 December 2014
Committee of Inquiry into the Banking Crisis
Context Phase
1:50 am
John Paul Phelan (Carlow-Kilkenny, Fine Gael)
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On page 56 of the report, paragraph 3.6.2, Mr. Nyberg stated:
Does Mr. Nyberg feel that the auditors of the Irish banks that he looked at exercised that lovely term "necessary professional scepticism"?
The Commission would have expected a bank auditor, exercising necessary professional scepticism, to have concerns where there were growing property and funding exposures, combined with material governance failings.