Mr. Seamus McCarthy:

No. 4.1 is the report and financial statements for the University of Limerick in relation to the academic year 2012-13, in respect of which there was a clear audit opinion.

No. 4.2 is the annual report and financial statements 2014 for the National Asset Management Agency, in respect of which there was also a clear audit opinion, with attention drawn to Note 2.1 which describes the main funding source for the agency and sets out the basis upon which the board is satisfied that it is appropriate to prepare the financial statements on a going concern basis. A similar note has been included in each certificate since the establishment of NAMA, because of the manner in which it is structured and funded.

No. 4.3 relates to the National University of Ireland Maynooth, I draw attention to a number of matters, including the recognition of a deferred pension funding asset, which is a standard for the universities and non-consolidation of the results of the foundation of the university. The university does not consolidate those with the results of the university group. The report draws attention to the fact that the foundation had net assets of €3.4 million at the balance sheet date.

No. 4.4 relates to the National Museum of Ireland. Nos. 4.4 to 4.8 relate to a number of VECs. Nos. 4.9 to 4.11 are three financial statements for the National Gallery of Ireland. Members will recall that up to 2014 there were two basis of accounting for the National Gallery of Ireland. It has an appropriations account but it also prepares consolidated financial statements because it has a number of funds. There has been a difficulty in producing those financial statements. I also draw attention to the fact that its accounting does not take into account the requirements of financial reporting standard, FRS, 30 for heritage assets that would have required it to recognise on the balance sheet the cost or value of heritage assets it acquired since 1 January 2011. The gallery does not follow that practice but it does provide a note on the nature and scale of its fine art collection.

Nos. 4.12 and 4.13 are the financial statements for the Medical Council and the North-South Language Body, both of which received clear opinions.