Mr. Pat Hickey:

Mr. Treacy has addressed Senator Coghlan's first question comprehensively. I echo his comments. We are not a Third World country. Some 205 countries participated in London and Ireland ended up in 41st place, a remarkable record for a country with such a small population. Often, my peers abroad are amazed at our success. Mr. Treacy answered the questions on performance comprehensively.

I wish to address the question on B standards. For those members who do not know, there is a qualification standard for the Olympic Games. Of the 28 sports, track and field and swimming athletes can qualify the easiest. All other sports have a brutal, draconian qualification process. The wonderful Judo fighter about whom Mr. Treacy referred only had two chances to qualify - she needed to win a medal at the European or world championship. It is even worse for gymnasts. They must win silver or gold medals at the world championships.

We decided that B standards were not good enough for the Olympic Games. I did not make it. Rather, the greatest athlete in Ireland, Ms Sonia O'Sullivan, made it in conjunction with silver medalist, Mr. Treacy. These are our two supreme Olympic athletes. Having examined the situation, they decided that the place for B athletes was at the world track and field championships and the European championships. The Olympic Games are the real deal. It is not for youth or for people who might do well the next time. Let them go to the world championships. We were happy to receive the full support of the Irish Sports Council and Athletics Ireland, the federation that runs the sport, for our decision.

Regarding accountability and finances, we are a company limited by a company guarantee. We are an entity that must produce accounts every year and send them to the companies office. They are open for inspection at all times by the public. We are also examined by the Comptroller and Auditor General. We have passed all examinations with flying colours. I do not have a set of accounts with me, but I will send one to the Chairman for distribution. Off the top of my head, 20% of our total turnover in four years was taxpayers' money, which we received through the Irish Sports Council. We raised the rest ourselves. We have never received a query about our accounts.