Mr. Michael Kennedy:

The European Court of Auditors came in on the basis of having given EU funds to the scheme but no EU funds were given to the scheme. We engaged with the Department of Public Expenditure and Reform and the view was that the court had no basis for the audit. Their people looked for our documents but had not funded the scheme. They had provided funding to an equity provider who was on the private sector side of the scheme. We met them and brought them on a site visit of the scheme. We provided them with a full overview of the process we undertake and they were made aware of all the documentation that was available, as well as our guidelines etc.