Michael McGrath (Cork South Central, Fianna Fail)
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123. To ask the Minister for Finance the 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 gardaí and the Office of the Director of Corporate Enforcement; the action being taken on foot of the content of the reports; and if he will make a statement on the matter. [32472/14]

Michael Noonan (Limerick City, Fine Gael)
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A s the Deputy is aware a number of reports have been produced by Ernst and Young (now called EY)  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 (CBI) under the terms of a protocol for limited disclosure agreed between the parties to preserve legal privilege over the material. IBRC was prohibited from disclosing these reports to anyone without the consent of CBI, McCann FitzGerald and Ernst and Young.

The Special Liquidators note the decision taken by IBRC that there was nothing in these reports which required reporting to the Gardaí. I am further advised that the contents of the reports formed the basis of the Administrative Sanctions Procedure the CBI has taken against INBS which is ongoing.

Publication of the reports may be considered when the CBI proceedings are concluded.