Mr. Michael Cullen:

Apart from our annual statutory audit, we have occasional internal audits. As the Chairman will note from the summary of our procurement policies attached to my opening statement, there is quite strong senior management oversight of all matters related to procurement for all purchases over €1,000. This alleged activity has disappointed and shocked us. I believe the procedures and policies are strong and robust, but I do not believe they are foolproof, and therefore I am looking forward to receiving the recommendations from the forensic auditor to see how we can improve the process and prevent this type of activity from happening again.

Deputy Ó Caoláin asked if we would be co-operating. Quite obviously, we will be co-operating with all investigations. We have no evidence to suggest there are other suppliers involved, but we will be having a very detailed look to confirm that. I absolutely agree with the Deputy's sentiments regarding gifts, pay-offs, favouritism, inflated costs or the passing of information to competitors. It appals us and has no place in a company such as ours. I believe that addresses the Deputy's questions.

Deputy Healy asked about our audit. We have brought in a very experienced internal auditor from Pinnacle Consulting. As I said to Deputy Troy regarding the timescale, I hope it will be within a number of weeks. The terms of reference centred initially on the supplier at the centre of the "Prime Time" allegations, but this is much broader than that and includes evaluating, studying and looking back at our entire procurement policy, procedures and history. It will involve significant diligence and cost comparisons of all our purchases. As I said to the Chairman, we have an annual statutory audit and occasional internal audits such as the one that is taking place now.