Results 1,881-1,900 of 4,168 for speaker:Susan O'Keeffe
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: So in the previous year, for 2008, you would complete and sign off the audit in March 2009?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: It's usually after three months the actual end of the ... year-end
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: Now, you've talked a little bit about, and I'm sure other colleagues will talk about, the changes and some of the things that have happened in terms of the changing of rules for auditors and for auditing in the future. But did your firm ever call for a change of rules prior to 2008? Were you out there banging the drum saying, "Audit rules are not strong enough", or were you satisfied up...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: But you weren't calling for that change, you weren't, among your colleagues and your international partners and so on, you weren't saying to each other or to yourselves, "Do you know, guys, we need to change, we need to make these rules more robust"?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: No, actually, I was asking particularly, prior to the crisis, in fact, but-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: When the loans, when you would examine ... the auditing team would examine loans that the bank had, would the bank provide the sample of loans, or would you go in and seek a sample of loans?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: And would you seek the sample from across all loans, or would you concentrate more on the top end or the bigger loans, or did you give equal parity to-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: Would you know, for example, if the bank had interest free loans being given to any body or any organisation? Would that be something a bank ... an auditor would know or would that just simply not arise?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: When you're ... when the auditors for AIB were here with us, they said that they had had a meeting in 2000 ... early 2008 with the Financial Regulator. It was a meeting of the four firms with the regulator. And this arose in the context of contingency for ... for the going concern for AIB. I appreciate you're the auditors for Bank of Ireland, you can't speak for AIB, but I'm wondering...
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: But was there any questioning on the part of the auditors for Bank of Ireland at that point yourselves, at that point with the bank in relation to the bank as a going concern and whether you would ... whether there was any concern on the part of the auditors about the bank as a going concern?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: Can you tell me about that please?
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: Yes. I'm specifically concentrating now on your observations at the end of 2007.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: Sorry, I'm just conscious of the time, Mr. McDonnell.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: I'm sorry, it's just if you can concentrate just on what you-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: And Mr. Boucher in his document, exhibit B3, said that, "Many aspects of normal financial market operations-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: Exhibit B3:Many aspects of normal financial market operations have ceased or been curtailed or else done under radically different conditions. Liquidity conditions were very difficult in the period leading up to 31 December 2007, with a brief rally in January-February-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: -----a rally, however, that was not sustained.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: I don’t know what else to tell you except it’s exhibit B3, RB001 - B0I.
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: It is. Mr. Boucher ... I said at the start. Basically Mr. Boucher was saying that things ... it was very difficult and liquidity conditions were very difficult. And I’m just trying to establish what ... were the auditors ... the auditors were clearly aware that they were very difficult is what he’s saying. I’m just wondering did you agree or-----
- Committee of Inquiry into the Banking Crisis: Nexus Phase (20 May 2015)
Susan O'Keeffe: Yes.