Ms Aisling Kennedy:

The Deputy is right to say that when we talk about public confidence, key stakeholders in that are the investors and shareholders in large and listed entities. I believe the quality of oversight in Ireland is comparable with any other jurisdiction in which large investors might consider investing. I sometimes hear the counter-argument that Ireland is seen as a jurisdiction where there is too much regulation. As Mr. Prendergast said earlier, when you hear both those messages you feel you are getting the balance somewhat right. It is necessarily a matter for policy to decide what the strength of the regulatory environment needs to be. As we have already said, it is for IAASA to implement that regulation. In terms of international comparability, I am sure Mr. Prendergast will not say anything different. I do not know if there is anything he would like to add.