Ms Madeleine Delaney:

The director of compliance was one of the inspectors. He has a huge case load. We received 493 concerns last year. There is a lot of other ongoing work. To go to the Deputy's point about what the CEO may have known or not known, when you look back at the documentation that was provided to us around that time - which was the best guess that anyone could have made on the financial position - that actually was not the financial position, as the report demonstrates. Even the fact the auditors have taken so long to work through everything to prepare the financial statements demonstrates how complicated things were. It was the lack of underlying documentation which was hugely problematic for everybody in this scenario.