Mr. Seamus McCarthy:

In this situation, I gave a note on it to the committee a couple of months ago, there is a specific direction from the Minister for Health in relation to health bodies that they do not account for pension liabilities in their financial statements. They account for pensions as they pay them, and because that is not consistent with what is required under FRS 102, I draw attention to it. It is a deviation from FRS 102. They do give a true and fair view in their financial statements, but it does not recognise that they have liabilities in relation to future pension payments to their staff.