Results 17,301-17,320 of 26,053 for speaker:Kieran O'Donnell
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Kieran O'Donnell: Why did you feel it necessary to drop your materiality level from €7.3 million to €2.7 million in one year?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Kieran O'Donnell: And did it give rise to you requesting that EBS make a larger provision in terms of an impairment provision ... in terms of loans ... than they had provided based on the accounts that were provided to you to be audited?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Kieran O'Donnell: What did it result in?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Kieran O'Donnell: I suppose, in simple terms, Mr. Fitzgerald, did your audit result in an increased impairment charge or not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Kieran O'Donnell: Okay. Is it in order, Chairman, for me to quote from the Nyberg report?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Kieran O'Donnell: You're familiar with it, okay. Can I ... I want to quote from page 51 and, I suppose, it's the question that people ask. It says, and I quote:All of the covered banks received unqualified audit reports throughout the Period. An obvious question is: why did the banks require State support in 2008 so soon after all of them had received unqualified audit reports from various auditing firms? ...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Kieran O'Donnell: But emphasis of matter was always available, Mr. Fitzgerald.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Kieran O'Donnell: And, I suppose, the final question I have is that Nyberg, in his report ... he basically headed up the issue on external auditing. He said: "The Silent Observers: External Auditors". How would you ... what would be your reaction to that statement?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Kieran O'Donnell: Well, I suppose, let me put the question another way.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Kieran O'Donnell: Do you believe that the role of the auditor is too limited in terms of dealing with the audit of organisations in terms of expressing a true and fair view? Do you think it was too limited?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Kieran O'Donnell: Thank you, Chairman.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Kieran O'Donnell: Can I just take up the true and fair view, just to get clarity? You're required to audit obviously under company law but, in here case, it was built inside the Act 1989 for a true and fair view. The question, I suppose, I want to ask is, with the change in ISI 39 in terms of recognising losses from 1 January 2009, did it bring about a delayed recognition of losses after...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Kieran O'Donnell: Can I just ... the context ... am I correct in saying that ISA 39 ... from 1 January 2005 was amended in that way because it was felt that financial institutions were effectively smoothing out losses, they were making provisions up ahead and they were effectively smoothing out losses and that ISA 39 ... it still dealt with ... on a discounted cash basis. So, you were still looking at the...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Kieran O'Donnell: Mr. Fitzgerald, you're at the coalface, you're the guy on the ground doing it in your daily chores, do you believe it would have made a difference if ISA 39 wasn't implemented from '05 on?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Kieran O'Donnell: Thank you, Chairman. Mr. Burrows and Mr. Crowley, welcome. Can I go to document Bank of Ireland - Vol. 1, B2, and the page I'm looking at is page 89. It's effectively to do with stress testing. It's dated 3 April 2006, addressed to Mr. Liam Barron, who was with the Central Bank. And the question I suppose I want to ask is that your sensitivity analysis appears to have very much revolved...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Kieran O'Donnell: I suppose reading the document, Mr. Burrows, the document speaks about fresh raising of capital and not about-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Kieran O'Donnell: Okay, ye didn't. Why not?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Kieran O'Donnell: Okay. And what ... in the worst case scenarios, what level of ... of, we'll say, deterioration in the price of property would ye have looked at?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Kieran O'Donnell: Okay. And do you feel you stressed up across a number of ... broad range of the type of loans and also factoring in how you were financing it through increasingly wholesale funding?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (14 May 2015)
Kieran O'Donnell: Can I just go back .... on the area around the guarantee and I want to just go to Vol. 1, BOI ...1 ... CB ... C3b ... and, more particularly ... which is new evidence today, which is that you had a meeting with the former Governor of Central Bank, John Hurley, on the day before the guarantee. When did that meeting actually take place, Mr. Burrows?