THE FOLLOWING statement was issued yesterday by Ernst and Young in relation to the Anglo Irish Bank egm:
Ernst and Young confirms that all of the audits conducted for Anglo Irish Bank shareholders were undertaken in accordance with the appropriate auditing standards.
Ernst and Young is confident of all audit opinions expressed to Anglo Irish Bank shareholders in the bank’s financial statements and that the accounts show a true and fair view of the state of affairs and results of the bank in accordance with the information and explanations received.
As part of the normal audit process, Ernst and Young received certificates from directors setting out their loan balances with the bank at the end of the financial year.
Until late 2008, Ernst and Young was unaware of the refinancing transactions undertaken by the former chairman of the bank, which concealed the extent of his loans with the bank during previous years.