Mr. Cormac Butler:

In the case of a State-controlled bank, the Exchequer may own 70% of the shares. Let us take Allied Irish Banks as an example. If it is selling an asset to a vulture fund, one might predict that the vulture fund would make a significant profit on the transaction and give consideration to how much extra money we would make if we were to retain the asset in our portfolio such that one is able to see that the bank is making an informed decision. However, if it is using flawed accounting, one cannot see what is going on and, as such, it could sell the asset to a vulture fund and there could be a significant and unnecessary discount on that asset. One is entitled to know if that is the case. One must know it in order to ensure the directors of the bank are making an informed decision on one's behalf.