Mr. Kevin Morris:

We are not auditors to any banks so I am not sure of the answer to that. However, I know there is an ongoing debate about the issues relating to the failure of the banks. I am trying to make the point that this is a different set of circumstances. There are no dominant shareholders. Each member has one vote. They are largely run by willing volunteers who depend greatly on a shoulder to lean on. They have built up trust with the relevant audit partners in the firms over the years. I agree there are arguments on both sides. However, the general scheme as proposed is a one-size-fits-all knee-jerk proposal and is not necessary.