Results 4,401-4,420 of 7,082 for speaker:John Paul Phelan
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
John Paul Phelan: My time is short, and I'm not trying to cut across you, but, in 2008, KPMG were still raising this concern. You referenced 2004 and actions that you said took place. They're in 2008, in their management, are raising more or less the same concerns about building up the experience in the internal audit function.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
John Paul Phelan: Well, 2004 was the first one. In 2005, actually the report by KPMG on the effectiveness of internal audit and in 2008 their management letter from KPMG, again on the internal audit department within the building society.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
John Paul Phelan: Then, how do you explain the 2008 management letter?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
John Paul Phelan: I don't think ... I think you're misrepresenting it slightly. I don't think they said that everything should go ... I mean, they were identifying a shortcoming which they felt could be addressed by an external solution more so than completely externalising it.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
John Paul Phelan: Can I ask, and this is my final question, I just want to reference that book again, Tom Lyons and Richard Curran, Fingers: The Man who Brought down Irish Nationwide, the prologue, page 11, there's one quote I want to put to you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
John Paul Phelan: Well, I'll put the quote to you anyway, as I think the quote is a general kind of ... I just want your comment on it. "It exposes for the first time the way in which Fingleton was allowed to operate at will around the board table of Irish Nationwide, despite the society being chaired by an eminent professor of banking and being regularly micro-managed by the state's banking watchdog." And...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
John Paul Phelan: Sorry, we've identified, more than any other institution over the period that we're investigating, letters from the regulator, specifically the first point in most of them was corporate governance issues, particularly focused, in fairness, around the role of the chief executive or the managing director, whatever he was called at different times, not specifically the chairman, but I think the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
John Paul Phelan: Membership.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
John Paul Phelan: Yes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
John Paul Phelan: And what about the second half of their concerns around the chief executive-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
John Paul Phelan: Well, can you bring-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
John Paul Phelan: Would you be able to say what those requirements ... you said there were ... you didn't want to get into too much detail. What were the requirements that proved a stumbling block?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
John Paul Phelan: Sorry, I don't-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
John Paul Phelan: Sorry, I didn't realise what you were ... that is fair enough.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
John Paul Phelan: Thank you, Chairman. Good afternoon, Mr. Moran.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
John Paul Phelan: Firstly, I want to turn to Vol. 1.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
John Paul Phelan: Stop the clock, Chair.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
John Paul Phelan: Thank you. Don't start the clock for a few more minutes.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
John Paul Phelan: Mr. Moran, good afternoon again. I wanted to ask in relation to Vol. 1, pages 29 to 32 or 33, I think. It's a document entitled "Draft Business Plan Summary - Five Years, 2009 - 2013", and it's dated November 2008. Firstly, would you have been involved in the compilation of that document and was it presented to the board? I presume it was presented to the board of the bank.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
John Paul Phelan: So, would you have had any input into it?