The auditor in charge of auditing Anglo Irish Bank's accounts between 2005 and 2007 has said he was not aware, at the time of the audits, of documents appearing to suggest that loans to the bank's chairman, Sean FitzPatrick and people connected to him, had been temporarily refinanced at each year end.
Vincent Bergin of auditing firm EY is giving evidence at the trial of Mr FitzPatrick, who denies misleading the auditors about loans to him or to people connected with him between 2002 and 2007.
Prosecuting counsel Dominic McGinn put a number of documents to Mr Bergin.
They included letters from Irish Nationwide Building Society offering loans to Mr FitzPatrick and to people connected with him.
The loans were in Euro, Sterling and US Dollars.
The letters from INBS stated that the purpose of the loans was to refinance existing arrangements with Anglo Irish Bank.
In 2005, INBS was confirming loans of more than €11m and more than $19m to Mr FitzPatrick.
In Anglo's accounts in the same year the total amount of loans to all directors of the bank was noted as being almost €22m.
Mr Bergin was also shown a number of loan account statements showing credits to accounts in late September reducing the balance owed on certain loans to zero or almost zero just before Anglo's year end.
The accounts would then show a debit shortly after the year end, and the amount owed on the loan would return to what it had been previously.
Mr Bergin said he was not aware of any of these documents or financial transactions while he was in charge of the audits in 2005, 2006 and 2007.
He said if he had been aware, he would have asked follow-up questions as to what exactly was happening.
He said he thought it would have been relevant to the audit and would have had an impact on it.
Mr Bergin agreed with prosecuting counsel, Dominic McGinn, that if he had been made aware of the documents, or if the jury concluded that there was a system of refinancing, he would have considered various options, such as consulting with colleagues, discussing it with the Anglo audit committee, and would have considered if there was any basis to report to the Office of the Director of Corporate Enforcement or to the Central Bank.
He agreed it was difficult in hindsight to say how it would have been resolved - he agreed it would have depended on the facts and circumstances at the time.
But he agreed that if the Directors Certificates or Letters of Representations from the directors had disclosed refinancing, this "would not have passed without consideration".
He agreed that consideration of legal, accounting and governance issues would have been necessary if he had been aware of any refinancing practice or any other issue.
He agreed he would have raised it in his report and at a meeting with the bank's audit committee and that various steps would have been considered up to and including resigning as auditors.