Ernst & Young earns €22m in fees from Central Bank over last two years

Accounting firm, Ernst & Young (EY) has received fees from the Central Bank totalling between €21m and €22m over the past two years.

Finance Minister Michael Noonan confirmed that last year the Central Bank increased its pay to EY by 20% — from €9.5m to €10m in 2013, to between €11.5m to €12m last year.

Between 2011 and 2015, Mr Noonan confirmed in a written Dáil reply to Fine Gael Deputy Joe Carey, that the Central Bank paid EY between €25m and €27.5m in fees. However, the Central Bank yesterday refused to say what type of work EY engaged in, over the last two years, in order to receive the large fee pay-out.