Auditing the banks

RECENT events have shown that both the financial regulator and Central Bank are totally ineffective — the first should be put out to grass and the second abolished.

The only people capable of getting the inside track on the banks and other financial service providers are their auditors.

The Government should immediately draw up a detailed code of best practice for this sector and compel their auditors to certify compliance under each and every heading, every year

At a stroke, we could have some meaningful regulation for the first time while simultaneously saving tens of millions of euro annually.

Dick Keane

Silchester Park

Glenageary

Co Dublin