Mr. Seamus McCarthy:

Thanks, Chair. I will come back before the end of the meeting with the correct turnover figure.

No. 5 is the financial statements of the Marine Institute for 2024, which received a clear audit opinion. No. 6 is the financial statements of An Bord Iascaigh Mhara for 2024, which received a clear audit opinion. No. 7 is the financial statements of the Sea Fisheries Protection Authority for 2024, which received a clear audit opinion. No. 8 is the financial statements of the National Pediatric Hospital Development Board for 2024, which received a clear audit opinion. In that case there was a qualified opinion. The accounts, in my view, give a true and fair view, except that they account for the costs of retirement benefit entitlements only as they become payable, but that is a standard approach for many health bodies. No. 9 is the financial statements of the Royal Irish Academy for 2024, which received a clear audit opinion. No. 10 is the financial statements of the Technological University Dublin for the year of account 1 September 2023 to 31 of August 2024.

The financial statements received a clear audit opinion but I drew attention to two matters. The university incurred a deficit of €8.2 million for the year ended 31 August 2024, following a deficit in the prior period of account of €8.4 million. Note 29 explains how the governing body is satisfied to present the financial statements on a going concern basis. I also drew attention to the fact that the draft 2024 financial statements were submitted for audit only in May 2025, which was almost six months after the target deadline of November 2024. This was due to ongoing capacity issues. In addition, following the audit, significant adjustments were required to the results stated for the year of account. Normally the audit would be expected to confirm the financial statements that would be presented. It is a matter of concern it was not in a position to present the draft on time and for the draft to be correct.