Morgan requests investigation into diligence of Ernst & Young auditors

April 26, 2010

Sinn Féin Spokesperson for Finance Arthur Morgan TD has officially called for a formal investigation into the actions of Ernst & Young Auditors. In letters to both the Irish Auditing & Accounting Supervisory Authority and the Chartered Accountants Regulatory Board, Morgan questioned the diligence of Anglo Irish Bank’s former auditors Ernst & Young.

He said:

“There is an assumption that professional auditors will discharge their duties with all due diligence and accuracy. How is it considered credible that auditors could sign off on accounts for a financial year showing pre-tax profits of €784 million that turned into €12.7 billion losses?”

Morgan has requested that this investigation proceed in a timely manner to alleviate growing public concern and to reply as a matter of urgency. ENDS