THE SPECIAL investigator examining the role of chartered accountants at Anglo Irish Bank has sent details of findings of his investigation into the bank’s former auditors, Ernst and Young, to the firm.
Former comptroller and auditor general John Purcell, who was appointed by the Chartered Accountants Regulatory Board, has sought a response from the accountancy firm that audited Anglo before its nationalisation.
“Relevant information on Mr Purcell’s investigation has been sent to the firm and we are awaiting their response,” said a spokesman for the regulatory board. Ernst and Young had no comment to make. The firm is understood to have sought clarification on how it should respond.
The board had previously said the final report on Ernst and Young could be submitted this month but its spokesman said yesterday the best estimate for its submission now was the end of April.
Last December Mr Purcell found that four chartered accountants had prima facie cases to answer over their roles in relation to Anglo but he had not reached any conclusions on Ernst and Young. On Monday the regulatory board adjourned a disciplinary hearing due to start next month into the role of one of those four accountants, former Anglo chairman Seán FitzPatrick.
The tribunal was adjourned until October after the Director of Public Prosecutions raised concerns that the board could prejudice future criminal cases arising from the investigations into Anglo.
Mr Purcell said there were prima facie cases against former Anglo chief executive David Drumm, former finance director Willie McAteer and former Irish Life and Permanent (ILP) finance director Peter Fitzpatrick.
Among the matters investigated were the €7.2 billion deposits between Anglo and ILP that flattered Anglo’s books in 2008.
