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Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Ciarán Lynch: Okay. So, maybe if ... to wrap that up again, has ... what has actually changed since the crisis period and can bank audit accounts now predict the risk of bank failure, in your opinion?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Ciarán Lynch: Okay, thank you. Just a final question to both of you so, in your opinion, or in the firm's opinion, did the external audit fulfil its role or not?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Ciarán Lynch: Okay. Mr. Dobey?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Ciarán Lynch: Okay, thank you. I'm going to move to wrap up. So, Senator MacSharry?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Ciarán Lynch: Okay, thank you. Senator D'Arcy? Okay. With that said, I ... if there's anything further you would like to add, Mr. O'Rourke or Mr. Dobey, before matters could be closed?

Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)

Ciarán Lynch: Thank you very much. So with that said, if members can just ... in doing this I would like to thank Mr. O'Rourke and Mr. Dobey for their participation today and for their engagement with the inquiry and now to formally excuse you and also to thank you for your engagement today. With that said, I now propose that the meeting is adjourned until 2.30 p.m. on Tuesday, 19 May 2015. Is that...

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

Ciarán Lynch: As we've a quorum, the Joint Committee of Inquiry into the Banking Crisis is now in public session, is that agreed? Agreed. Can I ask members and those in the public Gallery to ensure that their mobile devices are switched off? We now commence session 1 today which is a public hearing discussion with Mr. Ronan Murphy, senior partner, PwC, and Mr. John McDonnell, partner, PwC. In doing...

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

Ciarán Lynch: Before I hear from the witnesses, I wish to advise the witnesses that by virtue of section 17(2)(l) of the Defamation Act 2009, witnesses are protected by absolute privilege in respect of their evidence to this committee. If you're directed by the Chairman to cease giving evidence in relation to a particular matter and you continue to do so, you're entitled thereafter only to a qualified...

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

Ciarán Lynch: Thank you again, Mr. McDonnell and Mr. Murphy, and I believe, Mr. Murphy, you'll be going first with your opening statement this morning ... yes?

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

Ciarán Lynch: Okay. So, if I can invite you to make your opening statement please.

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

Ciarán Lynch: Sorry, Mr. Murphy, if I could just slightly disrupt you, I think you may have a box on the speaker there that's actually-----

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

Ciarán Lynch: Thank you very much.

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

Ciarán Lynch: Please ... yes.

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

Ciarán Lynch: Thank you very much Mr. Murphy ... sorry -----

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

Ciarán Lynch: Sure yes, take your time.

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

Ciarán Lynch: Thank you, Mr. Murphy. Your opening statement, which you provide to the committee will be published as well this morning in full, just so it's put into the record. And also just in terms of notification that was given to both yourself and Mr. McDonnell, you would be here representing yourself, along with the activities of your firm. So Mr. McDonnell, if I can invite you to make your...

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

Ciarán Lynch: Thank you very much, Mr. McDonnell, and thank you again, Mr. Murphy. We'll commence this morning's opening questions with Senator Susan O'Keeffe. Senator, you've 25 minutes.

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

Ciarán Lynch: What reference?

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

Ciarán Lynch: I just need you to clarify that document, Senator.

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

Ciarán Lynch: Sorry, Senator, I need you-----

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