Auditors: We weren’t to predict future
PricewaterhouseCoopers told the Oireachtas inquiry into the banking collapse that auditing rules at the time only allowed it to consider previous transactions, not predict the future.
PWC chiefs said the firm had not been complacent when looking at the bank’s books from the start of the financial crisis as it was not its place to give an opinion on the institution’s business model. PWC senior partner Ronan Murphy told the committee the company had not erred. “We stand over the quality of the audits of the financial statements of Bank of Ireland, AIB and Bank of Scotland Ireland and the robustness of the audit opinions issued on their respective reporting dates.
