PracticeAuditErnst & Young Anglo Irish Bank audit criticised

Ernst & Young Anglo Irish Bank audit criticised

Big Four firm under fire for Anglo Irish Bank audit

The chairman of Ireland’s Oireachtas Committee on Economic Regulatory Affairs
has criticised the failure of Anglo Irish Bank’s external auditors Ernst and
Young to appear before the committee, RTE Business reported.

Last night Ernst and Young said it would not be appropriate to appear because
the secret loans to directors issue is still under investigation, RTE said.

The chairman of the Oireachtas committee, Michael Moynihan, said the secret
loans to directors at Anglo Irish Bank had destroyed faith in the financial
system. He said he was ‘extremely disappointed’ that the external auditors had
refused to appear before the committee.

Ernst and Young said it received legal advice that it would not be
appropriate to appear before the committee. It said on the basis of information
it received from

Anglo’s management it believed its audit had been up to scratch.
However, the internal auditors have decided they will appear before the
committee today, RTE said.

Read the full story:

Ernst
& Young’s committee decision criticised

Related Articles

EY audit conflicts weigh on Royal Dutch Shell-BG Group deal

Audit EY audit conflicts weigh on Royal Dutch Shell-BG Group deal

2y Calum Fuller, Reporter
Auditors face FTSE 350 concerns over cost of transition to new EU audit rules

Audit Auditors face FTSE 350 concerns over cost of transition to new EU audit rules

2y Calum Fuller, Reporter
PwC to take on Weir Group audit

Accounting Firms PwC to take on Weir Group audit

2y Calum Fuller, Reporter
EY extracts Vedanta Resource audit as Deloitte tenure ends

Accounting Firms EY extracts Vedanta Resource audit as Deloitte tenure ends

2y Calum Fuller, Reporter
PwC appointed as auditor to probe Vatican finances

Accounting Firms PwC appointed as auditor to probe Vatican finances

2y Chris Warmoll, Writer
‘Ten years’ to see fruits of mandatory rotation – Non-Big Four auditors

Audit ‘Ten years’ to see fruits of mandatory rotation – Non-Big Four auditors

2y Calum Fuller, Reporter
Mandatory audit rotation 'further entrenches' Big Four

Audit Mandatory audit rotation 'further entrenches' Big Four

2y Calum Fuller, Reporter
Stagecoach set for EY audit appointment

Audit Stagecoach set for EY audit appointment

2y Calum Fuller, Reporter