Mr. Kevin Bakhurst:

To be clear, NewERA looked at the impairments, whether they were treated properly in the accounts, whether they were audited independently by our independent auditor and whether they were reported to the Department. NewERA then looked into the rationale for why the impairments were made. It said, in effect, that they were correctly accounted for and correctly reported. That is what NewERA said. It did not raise a red flag because, in its view, there was no red flag to raise.