Courts / Wicklow / Report

Witness denies "system failure" during Anglo audit

Summary

During the trial of Sean FitzPatrick, former Anglo Irish Bank auditor Vincent Bergin denied that a "system failure" occurred during the firm's audit of the bank. The State alleges that FitzPatrick's multi‑million‑euro loans were artificially reduced for two weeks around the bank's year‑end by short‑term loans from other sources, including Irish Nationwide Building Society. Prosecutor Dominic McGinn SC said the case concerns the former chairman's failure to disclose these loans to auditors between 2002 and 2007. Bergin, a partner at EY, led the audit from 2005 to 2008 and testified that the audit file for 2006 did not contain information reconciling the €63.7 million of loans linked to FitzPatrick with the €25 million figure reported in the financial statements. He admitted no evidence that the reconciliation was performed, but denied that a system failure had occurred. Sean FitzPatrick pleaded not guilty.

Who, what, where, when and why

What: Report matter: Witness denies "system failure" during Anglo audit. Charges or matters: 27 offences under the 1990 Companies Act. Procedural stage: trial

When:

• 2002 to 2007 Other
• 2005 to 2008 Other
• 2017-02-24 Publication

Why: His advice to the jury followed his interruption of evidence yesterday because he said he saw one juror "struggling". CNI source report

Case subjects

Places mentioned

Topics

Stage Trial

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Read the original CNI report