Mr. Gerry Murphy:

Those matters are separate from the company's obligation to us under contract. There is no obligation to us in the contract about CIE's duty, as a semi-State body, regarding accounts, etc. There are obligations to us in the contract about the service it must provide, the provisions it must make and the information it must give us and the company has satisfied all of those obligations. We also audit the CIE's capital spend in order that we are satisfied that the moneys we have given the company on the capital side have been spent appropriately and it has proper controls and procurement systems in place. We also audit the subsidies to the company to ensure there is a proper separation of accounting from any of its commercial activities. For example, Bus Éireann runs Expressway, while Irish Rail runs Rosslare Harbour and freight. We also track back that the company has reported to us its operating data appropriately.