Auditors and FitzPatrick face regulatory board probe

ACCOUNTANCY firms Ernst & Young and KPMG are to be investigated by the Chartered Accountants Regulatory Board arising from issues connected to the “inappropriate directors’ loans” at Anglo Irish Bank.

Former Anglo Irish Bank chairman and chief executive Sean FitzPatrick, who held concealed director’s loans of up to €122 million, is also to be investigated by the accountants body’s complaints committee.

A spokesman for the board’s complaints committee said it has determined the issues concerning inappropriate directors’ loans at Anglo Irish Bank “constitute a matter of public concern”. He said the board is liaising with statutory regulators before proceeding with the next step.