Watchdog: Conflicts of interest in IBRC probe

Transparency International, the influential watchdog for public and corporate governance, has added fuel to the political row surrounding the Irish Bank Resolution Corporation by calling on the Government to scrap its current investigation, claiming the conflicts of interest are so glaring as to undermine Ireland’s reputation abroad.

In its first comments on the row, Transparency International Ireland chief executive John Devitt urged Michael Noonan, the finance minister, to remove auditors KPMG from the government review of the sale of Siteserv and other loans by IBRC.

He said the Government should strengthen the powers of the Comptroller and Auditor General to undertake an independent investigation.