Results 17,441-17,460 of 26,228 for speaker:Kieran O'Donnell

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

Kieran O'Donnell: €70 million to €50 million?

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

Kieran O'Donnell: On a particular item?

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

Kieran O'Donnell: Did you adjust that materiality when the crisis hit in '07 and '08, to take account of risk?

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

Kieran O'Donnell: Did you change your materiality when the risk period came?

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

Kieran O'Donnell: At all?

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

Kieran O'Donnell: Why not, considering the risks?

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

Kieran O'Donnell: Can I move on to the item? The level of audit fees that you would have earned from the audit, Mr. McDonnell ... was the ... in 2008 you got €4.9 million and overall you got €10.8 million from Bank of Ireland. Was that your highest audit fee?

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

Kieran O'Donnell: In 2008 PwC received €10.8 million-----

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

Kieran O'Donnell: It's the external auditors' fees by institution 2004 to 2010.

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

Kieran O'Donnell: We were provided with it by ... it's a sheet given to us by the secretariat, Chairman.

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

Kieran O'Donnell: So the question really I have is twofold. Number one - in 2008 the €10.8 million, which was the total fee - €4.9 million for the audit and €5.9 for the non-audit - was that your highest single fee? And, secondly, from a ten-year period up to 2009 it's reported that, between audit and non-audit income, you got over €100 million for Bank of Ireland and about ......

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

Kieran O'Donnell: Or not.

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

Kieran O'Donnell: Or not.

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

Kieran O'Donnell: Yes.

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

Kieran O'Donnell: Correct.

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

Kieran O'Donnell: How does this relate to being-----

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

Kieran O'Donnell: ---being the ... was it your largest fee, combined?

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

Kieran O'Donnell: How did you ensure that couldn't be-----

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

Kieran O'Donnell: Final question, Chairman, just one final question. How did you ensure that there wasn't conflict of interest where you had one client, Bank of Ireland, having ... commanding such a large level of fee?

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

Kieran O'Donnell: Thanks, Chairman. I want to welcome Mr. Smith and Mr. Fitzgerald.