NAMA chairman calls for review of auditors

NAMA chairman Frank Daly has called for a review of the role of auditors in the wake of the banking crisis.

Speaking at a Corporate Governance Association of Ireland meeting, Frank Daly said the profession needed to look at ethical behaviour and business sustainability.

He said auditors were overly focused on historic accounts rather than looking at the future of the business.

This comes in the wake of revelations last week that Ernst & Young face a possible disciplinary hearing after an investigation of its role as auditor to Anglo Irish Bank.