In the period ahead, auditors are being asked to work with financial institutions to improve their valuation methodologies and to clarify the uncertainties associated with these. This would contribute greatly to market confidence. Conclusion In conclusion, the Irish economy and its banking sector continue to demonstrate their strength against the background of a challenging international environment.
While the growth rate of the economy is expected to slow this year, it will still represent a good performance by international standards, and growth is expected to recover in 2009 and subsequent years. Prices in the residential housing market are in the process of returning to more realistic levels. The health of the domestic banking sector remains robust.