Anglo Irish Bank has announced it has replaced Ernst & Young with Deloitte as its external auditors following a tender process. The firm is due to begin auditing the bank for its 2009 financial year ending on 30 September. The bank is currently being investigated by Irish accountancy regulators, following revelations that its former chairman Sean Fitzpatrick concealed more than €87m (£78.5m) in loans from the bank's shareholders and the public over a period of eight years. Investigations into the performance of its former auditors Ernst & Young were also launched, but the firm insisted it always maintained appropriate standards. Anglo Irish Bank was nationalised in January 2009.