E&Y fails to halt Anglo Irish investigation

by Accountancy Age Staff

More from this author

16 May 2011

  • Comments
Anglo Irish Bank by infomatique on flickr photostream

ERNST & YOUNG in Ireland has failed in a bid to halt an investigation into its work as auditor of Anglo Irish Bank.

The High Court in Ireland ruled on Friday that the firm had no grounds for a judicial review of a probe ordered by the country's Chartered Accountants Regulatory Board (CARB).

According to a report in the Irish Independent, the firm claimed in its application that the probe was unfair because reports leading to the investigation did not contain valid "complaints". This was because they failed to detail specific allegations or refer to any "codes of conduct, rules, regulations and professional standards".

The Irish Independent reports the firm is "disappointed" with the decision and quotes a statement from Ernst & Young saying it has "no issue" with participating in any investigation into its work and that it has "co-operated fully" with the investigation so far.

The investigation is being undertaken by John Purcell, a former comptroller and auditor general in Ireland. He was appointed to probe E&Y's audit work at the bank in March 2009. CARB is a body of the Institute of Chartered Accountants in Ireland.

Visitor comments

blog comments powered by Disqus

Add your comment

We won't publish your address

By submitting a comment you agree to abide by our Terms & Conditions

Your comment will be moderated before publication

  • Send


Financial Planner

The Ministry of Defence Surgeon General’s (SG) Finance Department, Lichfield, Staffordshire, Permanent, Full Time, £ £30,008




Get the latest financial news sent directly to your inbox

  • Best Practice
  • Business
  • Daily Newsletter
  • Essentials


Search for jobs
Click to search our database of all the latest accountancy roles

Create a profile
Click to set up your profile and let the best recruiters find you

Jobs by email
Sign up to receive regular updates with the latest roles suitable for you



Why budgeting fails: One management system is not enough

If budgeting is to have any value at all, it needs a radical overhaul. In today's dynamic marketplace, budgeting can no longer serve as a company's only management system; it must integrate with and support dedicated strategy management systems, process improvement systems, and the like. In this paper, Professor Peter Horvath and Dr Ralf Sauter present what's wrong with the current approach to budgeting and how to fix it.


iXBRL: Taking stock. Looking forward

In this white paper CCH provide checklists to help accountants and finance professionals both in practice and in business examine these issues and make plans. Also includes a case study of a large commercial organisation working through the first year of mandatory iXBRL filing.