Results 11,301-11,320 of 15,555 for speaker:Eoghan Murphy
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: Okay. And just finally then, to clarify. You go back in to meet with the Government, I take it with the Taoiseach and the Minister for Finance, is that correct?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: And others. And you were saying to them that you can provide the €10 billion that was needed for Anglo Irish Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: And they say to you that they are going to provide a guarantee?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: In that same instance.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: And at that point then, is the €10 billion no longer needed for Anglo Irish Bank?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: So, just to clarify. You left Government Buildings, your understanding was that €10 billion was still required and that a guarantee of the six banks was coming into effect the next morning.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: Thank you. Thank you, Chair.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: Thank you, Chairman. And you're both very welcome, gentlemen. I just want to return to a question that Senator D'Arcy asked you earlier on, Mr. Dobey. He asked if you were satisfied that you had access to accurate information which enabled you to discern the full financial position of the group at all times in relation to AIB and I think you said that you were satisfied.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: Okay.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: And you came into auditing AIB in around ... is it 2002?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: Okay. If we could just look at a board minute, and it's in the document on page 4 of the KPMG core document. It's a board minute from December 2001, if you have it in front of you.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: The page is mostly redacted but at the top we've the group chief executive's report and in that main paragraph, Mr. Buckley talks at the bottom of the paragraph, about the need to make a significant capital investment in the development of a "single information management architecture." So would you have come across this problem when you were then auditing - in 2002 - the year 2001?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: And you said that it took until 2007 to bring in that single information management architecture?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: Without the implementation then of such a management system for information ... I mean, could you be confident that you had a full picture?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: Okay, if we could turn then to page 9 in the same document please. And you talked, Mr. Dobey, in your opening statement about the effective communications of risks between KPMG and AIB. And here we have, in relation to credit control and credit provisioning, an observation in the second paragraph on the left hand side, "During the course of our audit, we noticed 11 significant provisions...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: And in the management response then on the right hand side, that's AIB accepting your observation and recommendation?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: And is that then case closed?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: Thank you. I want to just move into another area there in relation to IAS 39. KPMG is an international company.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: KPMG operates in Spain?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Eoghan Murphy: Do you audit banks in Spain?