Results 2,281-2,300 of 4,168 for speaker:Susan O'Keeffe

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: So for some of them, they would have needed training about the Irish property market, about Ireland, about the way in which we ... you know the businesses day to day, if they were coming from abroad?

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: Did you ... did your audit team audit Bank of Ireland understanding that the bank was too big to fail?

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: So it was never discussed with the bank management, you know, look we're-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: On several occasions you have referred to the idea of financial statements faithfully representing the past at a particular time, you've talked about never getting involved in the running of the bank. Can you then clarify for me the role that you did have prior ... I'm sorry, post-September 2008, when it was all, as you said yourselves, in a completely unprecedented situation, you were now...

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: But that wasn't part of your audit function.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: Just to clarify, Chair.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: Absolutely. So you were ... would you use the word negotiating or assisting ... what is the word that you would use there?

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: But you were allowed to talk at the meetings that you attended. You were allowed to be participants in them. You weren't sitting passively at the-----

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: Thank you, Chair.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: I am so sorry.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: Guilty, as charged.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: I think this ... this is probably best directed at you, Mr. Fitzgerald, but I may be wrong. I'm just trying to find out whether the society's management and board structure ... did it impede the provision of good governance within the society at all or what impact might it have had?

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: In 2011, the corporate watchdog, Paul Appleby, was ... and, again, you may not be familiar with this quote, so if you're not, of course, you may not have to comment on it. He said that there were grounds for questioning the consistency and quality of audit work within the profession, and he said that, "auditors report surprisingly few types of company law [offices] offences to us", with the...

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: Were you at all aware in any of the auditing that you did of any ... whether EBS itself invested equity in any of the property transactions for which it also provided debt financing?

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: When Professor Ed Kane was here ... and, again, this testimony, you may not have seen. On page 233, he said, "One may know that the firm is in grave trouble but the auditors may not have sufficient information to allow them to determine that." Would you have a view on that? And, again, that's obviously a broad statement. He was referring broadly, not specifically.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: He was just talking generally about the practice of auditing, but I respect that. In 2011, the Revenue Commissioners - and, again, Minister Fitzgerald, you may not be familiar with this - said that audits said little about the business model of firms or their liquidity position, and:Audit reports are primarily addressed to shareholders. However, as recent events have shown, others,...

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: Others who've given evidence, and I mean this in the broadest sense, have referred to that period of time, I suppose, between the beginning ... probably 2008 and specifically obviously around the time of the guarantee, as being unprecedented and as being very difficult. So I just wonder what your observation might be of that time, if, indeed, you have one.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: Yes, of that particular time. Do you have an observation to make? Either of you.

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: Mr. Smith, do you ... would you care to make an observation?

Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)

Susan O'Keeffe: Can I just finish by going back, perhaps, to the letter that my colleague, Deputy Doherty, referred to ... the letter between ... the Kieran Kelly file note in relation to Ted McGovern ... I beg your pardon, that's the core document, page 3 ... page 3 and 47, actually, on page 4. So, he goes on to say that Mr. McGovern raised various things like the reliance on a few numbers of very key...