Ernst & Young to face disciplinary hearing over role in Anglo collapse
The company must address three key deals in the bank’s 2008 accounts, including a €7.45 billion overnight deposit from Irish Life & Permanent and €87 million in loans held by disgraced ex-chairman Sean FitzPatrick. Special investigator John Purcell has also ordered Ernst & Young to explain why it did not ensure disclosure of a loan to former Anglo director Willie McAteer.
In a statement, the firm said: “This is a preliminary stage of the process and, for the avoidance of doubt, there has been no adverse finding made against Ernst & Young in respect of the audit of Anglo Irish Bank. We will vigorously defend our work.”&
