Results 641-660 of 4,414 for speaker:Sean Barrett
- Committee of Inquiry into the Banking Crisis: Nexus Phase (3 Sep 2015)
Sean Barrett: Thanks. My time’s up, Chairman. I just want to reassure Mr. Went, I like the banks the way they used to be. If you’ve any influence, please-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: Thank you, Chairman, and welcome again to Mr. Fingleton. On the internal audits, if I may discuss that with you ... in their 2005 report, KPMG stated: The existing internal audit function is not best practice. ... In particular it lacks the depth of experience necessary to challenge ... areas of key risk which includes Treasury and Commercial Lending. And in their management letter in...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: Could I put on the record-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: Now, I have to put on the record as well that they also said, Mr. Fingleton, "Certain members of the [internal audit] team lack[ed] credibility with management." This is not surprising, given that "Only one member of the [internal audit] team has a recognised [internal audit] qualification" and that the internal auditor did not attend crucial committee meetings, including the credit,...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: What about the qualifications issue?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: Well, how did they find only one member of the internal audit team had a recognised internal audit qualification?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: Could I refer to Vol. 1, at page 43, the letter from the Financial Regulator, dated 8 February. Now, you just said, I think, to Deputy-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: 8 February 2008-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: Page 43, indeed. Thank you Chairman-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: You said you ... You were commenting on the regulator, that you respected him, but I have to say what he said-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: -----in that letter-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: Page 43.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: "The findings of this inspection of INBS calls into question the adequacy of controls and risk management in place in INBS for large commercial property loans and suggest[s] that a significant degree of approval authority rests with a single individual,-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: -----Mr. Fingleton, who ... appears to be the only source of information on some of the large clients."
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: Well, this is not Mr. Neary. This was from ... the-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: Mary Burke.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: And have you formally replied?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: Could I bring to the attention the resignation of Dr. Con Power? You said that the board discussed all major matters. Mr. Power resigned because the decision to take legal action against the financial ombudsman was not discussed at the board. You phoned him up from London to try to change his mind in 2006, but he did resign. Why was that decision not taken by the board?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: The question is: would it be normal to engage in that kind of legal activity without telling the board members?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (2 Sep 2015)
Sean Barrett: The society lost ... was it €243 million in 2008?