Mr. Martin Sisk:

In light of the financial collapse we have had, this is an area that has come under scrutiny. Clearly, IAASA, since it was formed, has been doing a very good job from what I can see. It is an area of interest and concern and it is important that very high standards are maintained in the auditing and accounting profession. It is also the case that there are very significant European elements to auditing and accounting these days and that is also a major part of IAASA's work. That is what has driven me to have an interest in chairing IAASA. Sadly, the previous chairman died prematurely in May, so IAASA has not had a chairman since May. That is really my motivation.

There is also another issue, and time will tell us about this one. The advent of the Brexit situation may have implications for the auditing and accounting area in the context of Irish-British relations. As the Senator may be aware, there is a very strong linkage currently between the Financial Reporting Council, which is based in the UK, and the Irish auditing of various professions here, whether it be chartered accountants, certificated accountants or whatever. I will not know until, hopefully, I step into the previous chairman's shoes what the full implications of that will be, but it is an area of concern as to what will happen.