And adverse results should have adequate response and, where necessary, disciplinary measures transparent to the public. Strong audit committees can be very helpful to monitor both a company’s executive management and its internal and external auditors. They need to comprise independent non-executive directors only and to report to the full board.
Over recent months, yields on Irish government bonds continued their downward trajectory across the curve, notably following the expansion of the asset purchase programme to include purchases of public sector bonds in January last year. This also reflects the continued improvement in the public finances.15 Yesterday, for example the yield on the 10 year Irish government bond was 0.34 per cent.