"The financial crisis revealed severe shortcomings in corporate governance.When most needed, existing standards failed to provide the checks and balances that companies need in order to cultivate sound business practices"The Organisation for Economic Co-operation and Development (OECD).

Discuss this statement with reference to the findings of :

1.TheRegling & Watson report

2.The Report to the Minister for Finance by the Governor of the Central Bank

entitled "The Irish Banking Crisis Regulatory and Financial Stability Report 2003-2008

3.The Nyberg Report of March 2011.