Mr. Seamus McCarthy:

Not really. In order to be able to make a statement that accounts or financial statements present a true and fair view, they have to be done in a particular way. "True and fair" is almost a kind of copyright. We have to be able to tick many boxes to be able to say it is a true and fair view. As there is this a different treatment of pension liabilities in these financial statements, at the direction of the Minister - and the Minister is entitled in law to make such a direction, so I do not have a difficulty with that - I am forced by the auditing standards to issue a qualified opinion. I have to issue a qualified opinion, but I want to make clear to the committee that it is only on that point that the opinion deviates from the true and fair standard.