Michael McGrath (Cork South Central, Fianna Fail)
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129. To ask the Minister for Finance the current status of the reports completed by McCann FitzGerald and Ernst and Young into certain corporate governance matters at the former Irish Nationwide Building Society; if the reports have been referred to the Garda and the Office of the Director of Corporate Enforcement; and if he will specify the action currently being taken on foot of the content of the reports. [36349/13]

Michael Noonan (Limerick City, Fine Gael)
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I am advised that a number of reports have been produced by Ernst and Young and McCann FitzGerald at the request of the INBS Board. Copies of all of these reports have been provided to the Central Bank of Ireland under the terms of a protocol for limited disclosure agreed between the parties to preserve legal privilege over the material. A report was also provided to the Gardaí in this regard. However, I have been advised that given the on-going nature of the investigations by the Authorities, including in particular the investigation being conducted under the Central Bank’s Administrative Sanctions Procedure into historic lending practices at INBS the reports cannot legally be published at this time. Publication may be considered when the Central Bank proceedings are concluded or when any Garda investigation has been finalised (or any proceedings arising from such investigation concluded).