Formal complaints against former Anglo Irish Bank chairman Sean FitzPatrick and the bank’s former CEO David Drumm are to go to an accountancy watchdog’s disciplinary committee.

Anglo Irish Bank’s former finance director Willie McAteer and Irish Life & Permanent's former finance director Peter Fitzpatrick also face complaints following an investigation carried out for the Chartered Accountants Regulatory Board by former Comptroller and Auditor General John Purcell.

Mr Purcell investigated the secret borrowings by Sean FitzPatrick and loans given to 10 investors to buy Anglo shares which had been indirectly held by Seán Quinn.

He also examined back-to-back deposits of €7.45bn from Irish Life & Permanent which artificially improved Anglo’s accounts.

Mr Purcell found that there was a prima facie case against all four men in relation to the deposits involving Anglo and Irish Life & Permanent.

He also found sufficient grounds for action against the three former Anglo executives in relation to Mr FitzPatrick's borrowings.

On the loans to ten of its customers to buy Anglo shares, Mr Purcell found a prime facie case against only Mr Drumm, for his role in amending the terms of the loans.

Mr Drumm and Mr FitzPatrick also face formal complaints over a loan to Mr McAteer in 2008, while Mr McAteer faces a complaint about the ‘appropriate disclosure’ of the loan.

Mr Purcell also found evidence that Mr Drumm was liable for action over loans to ‘four key management personnel’.

Mr Purcell's findings on the role of accountancy firm Ernst & Young, which was auditor to Anglo, will be published next year.