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Central Bank must act transparently – come before the PAC: McDonald

11 December, 2015 - by Mary Lou McDonald TD

Sinn Féin Spokesperson on Public Expenditure, Mary Lou McDonald TD, has welcomed the publication of the Central Bank internal audit report.

Deputy McDonald said:

“I welcome that the Central Bank has published its internal audit report (Assessment Compliance with the Code of Practice for the Governance of State Bodies).

“I note the Central Bank states that it “expects the highest standards of corporate governance in the firms it regulates and also applies those high standards to itself”. This appears at odds with its non-compliance and partial compliance with a whole host of items as set out in the report.

“The Central Bank asserts that the “majority of remediation actions have now been completed”. I would like to see evidence of that work to date.

“Given that the Central Bank is committed to the principle of public accountability as per it’s mission statement, I would ask that it comes before the PAC to discuss the audit report published and issues arising from it."

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