Kevin O'Keeffe (Cork East, Fianna Fail) | Oireachtas source

The fact that the board was not aware leads me to my next question. Before the financial officer or whoever turned to the then CEO, and I know there was a short deliberation, was there not enough time to approach the local bank manager and say, "Listen, extend the overdraft from €1.5 million to €1.6 million?"

In fairness, the CEO was safeguarding the reputation of the bank and the worst thing one can ever do is have a cheque bounce in one's face. A cheque lodged in a bank takes three days to clear. What would have happened if the people who were looking for the money had approached the bank in advance? What was the advantage of the loan, unless the CEO went with €100,000 in cash in a bag to the bank? The optics are not good. While it might not be illegal, it does not look good. That is why the representatives want clearance from the Grant Thornton report.

Sport Ireland told the committee that it would make no call until we had deliberated as well. Has Sport Ireland asked the FAI whether it could fast-track its audit of the accounts? Every three years, Sport Ireland conducts an audit of the various organisations it governs, and this year it is the turn of the FAI.