Mr. Seamus McCarthy:

I will comment on one point raised by Deputy Perry regarding salaries and pension payments. I have not seen the 82% figure but it is important to make the general point that one cannot just assume because a figure is for payroll or pensions, it is relatively simple and straightforward. Obviously, we must audit those figures as well. A point has been made by Professor McGonagle that there is a very substantial pension charge element. That is one area in which I specifically qualified my audit opinion. That is with regard to the figures included in these financial statements for 2010/2011, as I was not satisfied that I got full explanations in that regard.