The Financial Regulator has written to the Institute of Chartered Accountants in Ireland (ICAI) to warn auditing firms to be “particularly vigilant” when monitoring transactions around the year-ends of banks and other financial institutions.
The warning came in the wake of the recent controversies which involved directors’ loans at Anglo Irish Bank - which resulted in the resignation of the bank’s chairman, Sean FitzPatrick, and chief executive David Drumm - and Anglo’s deposit...
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