Séamus McGrath (Cork South-Central, Fianna Fail)

I thank the witnesses for being here. I know they probably only caught some of the earlier session but it is fair to say that it was quite staggering in some of the revelations about how the organisation was run, the total lack of governance, the centralised decision-making and the fact there were no proper control measures and zero procurement processes in place. People would be tempted to say, "If only we had regulators", but we had two regulators. Do the witnesses consider their role a big failure in respect of this organisation? Should they have uncovered some of these practices at an earlier date?