Mr. Richard Collins:

The concern I had was that it was not accounted for in the accounts. It was not in the management accounts; it was not in the year-end accounts. Good accounting practice would bring it onto the accounts there and make it transparent. I took comfort from the fact that a senior director was managing it and the director general seemed to be close to what was going on in the account. There was a certain element of trust there. In hindsight, would I have done things differently? Yes, I think I would have done things differently.