Ex-INBS director seeks to join KPMG as defendant in €6bn case

An application may be made to join accountancy firm KPMG as a defendant to a legal action arising from €6bn losses at Irish Nationwide Building Society.

KPMG acted as auditors for the society for 20 years.

Terence J Cooney, one of four former directors of INBS being sued separately from former building society chief executive Michael Fingleton arising from the losses, wrote earlier this year to the minister for finance claiming it was “preposterous” the two special liquidators of state-owned IBRC, Kieran Wallace and Eamonn Richardson, both partners in KPMG, were not suing their own firm for alleged negligence.