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KPMG’s role at Irish Nationwide should be examined before it’s too late Doherty tells Noonan

5 March, 2014 - by Pearse Doherty TD

Sinn Féin Finance Spokesperson Pearse Doherty TD has today written to Minister for Finance Michael Noonan asking him to intervene to ensure that KPMG are not allowed escape investigation on a legal technicality for any questioning of their role as auditors at Irish Nationwide.

Deputy Doherty said:

“Today, I have written to Minister Noonan to ask him not to let the Statute of Limitations in this case expire. In a matter of weeks KPMG will be legally untouchable for their role in auditing the books of Irish Nationwide at a time of much scandalous behaviour at that bank.

“To put it in context the Special Liquidators at IBRC are suing Ernst and Young because of their role as auditors at Anglo before the banking collapse. The IBRC is a two headed monster consisting of the remains of Anglo and of Irish Nationwide and both heads should be treated in the same way.

“The fact that the Special Liquidators are KPMG men raises very obvious questions about a conflict of interest. This week they told the Finance Committee they are setting up ‘a different arena’ to examine this issue to distant themselves.

“The Minister needs to explain what exactly that means.

“Previously the reason given for not suing KPMG was that independent advice has been received not to. This independent voice actually came from Irish Nationwide’s own legal advisor - Mc Cann Fitzgerald.

“Irish Nationwide has cost the people billions of euro and those who signed off on the books as it behaved recklessly must be held accountable as those at Anglo must be. The clock is ticking and Minister Noonan must act now to make sure nobody slips through the net.”

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