Mr. Kieran Mulvey:

The issues raised are the ones about which we are concerned. We had this engagement with the FAI last night. One of the difficulties was that the timeline kept changing because there were other issues in which the FAI was involved in an alternative hotel. They are known to us all.

We were shown the terms of reference for the Mazars review and our team - the four of us present - examined them. They are extensive and appear to us to be rigorous, but we have not completed our discussions thereon. As I understand it, those concerned have not completed their discussions with the Office of Corporate Enforcement, as I was led to believe last night.

Let me refer to a point raised earlier, particularly by Deputy Munster. Given what happened last night and the matter about which we were not told, we have had to take the view that whatever Mazars or Grant Thornton does, we will have to be assured, as the State agency involved and given all that has gone on, that we can conduct our own independent audit, forensic or otherwise. It would have to be forensic - if we want to use that term - in respect of what they are reviewing and involved in. As has been said here, we have to accept that we cannot rely on the information provided anymore. The committee has also experienced this. We will have to be satisfied, through our own auditor, appointed by us, with the information being provided by the other auditors. It is like some of the phrases used earlier such as "fair play" and "playing the ball". I was wondering where we were for a while.