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EY’s €10m Anglo Irish bill; house price rebound; and the dreaded missent email

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Settling an action over its auditing of Anglo Irish Bank has cost Big Four accountancy firm EY €10 million. Photograph: Cyril Byrne

Dominic Coyle's face
Dominic Coyle
Mon Jul 10 2023 - 06:34

Big Four accountancy firm EY agreed earlier this year to pay more than €10 million to settle the long-running case over alleged failings in its work as auditor of Anglo Irish Bank before the financial crisis. The case related to its failure to notice the bed and breakfasting of loans with Irish Nationwide by chief executive and later chairman Sean FitzPatrick around financial year ends.

Property asking prices picked up in the three months to the end of June following three quarter-on-quarter declines in a row, the latest MyHome.ie survey has found. A separate report says activity in the construction sector is expanding for the first time since September of last year.

The Housing Agency is set to unveil a reboot of the mortgage-to-rent scheme following months of heightened uncertainty over the future of the programme, which had left distressed borrowers, lenders and players in the sector in limbo.

Cardboard box maker Smurfit Kappa says proposed amendments to incoming European Union packaging rules are “counterproductive” and risk doubling the amount of plastic in circulation across the union by 2040.

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In her column, Pilita Clark addresses the dread of the missent email which strikes fear into office workers everywhere but, according to one poll, is far more common than you might think.

And in an Opinion piece, Society of Chartered Surveyors fellow Noel Larkin says the Government needs to think again about its plan to retrofit 500,000 homes as painfully slow progress on the scheme means there is no way it is going to hit that target.

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