Mr. Seamus McCarthy:

I will deal with Deputy Deasy's points first. The issues to which we have drawn attention in the audit certificate are effectively given to the college and it must present them to the HEA. This is a way of communicating with the HEA. Separately from that, we have quarterly meetings now with the HEA, so if there is a recurring issue or specific issues in relation to an individual institution we raise them with the HEA and ask what it can do to assist in resolving the matter. If anything specifically arose on an audit that was of urgent concern, we would also phone the HEA and discuss the matter with it immediately. We have contact and discussions with the HEA on matters relating to individual institutions as we bring an audit to a conclusion in order that we are satisfied. If there are matters in the financial statements on which the HEA should have provided a sanction there is a discussion around that and it can choose to sanction the institution, as the case may be. If there is expenditure without sanction we would draw attention to that. There is regular contact with the HEA on both specific matters and sectoral issues that arise.