THE FINDINGS of the first report by the special investigator examining the role played by four chartered accountants, including Seán FitzPatrick and David Drumm, in certain matters at Anglo Irish Bank will be published on Monday.
The Chartered Accountants Regulatory Board (Carb) will make a statement on the findings of investigator John Purcell, the former comptroller and auditor general, into the role of the accountants, a spokesman for the board said.
Mr Purcell also investigated former Anglo finance director Willie McAteer and Peter Fitzpatrick, the former finance director of Irish Life Permanent, which supported Anglo with €7 billion in short-term deposits in 2008. The transactions made Anglo’s accounts look much healthier than they were, masking the true extent of deposits withdrawn from the bank following the collapse of Lehman Brothers.
Mr Purcell was appointed special investigator in February 2009 to examine the involvement of the accountants in events leading up to the nationalisation of Anglo. He has investigated possible breaches of the bylaws and rules of professional conduct of Chartered Accountants Ireland, the professional institute governing the accountants.
The Carb spokesman said Mr Purcell would submit his report on the role of Ernst Young, who were auditors to Anglo, in early 2011, possibly in March.
The investigation is one of several into various activities at the bank.
