Mr. Fergal O'Leary:

Our focus is on AHB assets, for example, properties under the capital assistance scheme, CAS, the capital advance leasing facility, CALF, and those different funding schemes. It is important to say there has been a lot of work in the past year or so in that area to make sure that the oversight we do is matched with the funders. There is then the engagement and collaboration that we have with the Dublin Region Homeless Executive. There is therefore an overall picture of the AHB's capability to manage its affairs.

Things are better there now. However, to go back to a point that was made about the trust moving into an area, I am not sure that it was deliberately an AHB. With other AHBs of its size, they spent the previous three or four years before regulation came in preparing for it and putting in place the necessary policies and procedures. Unfortunately, in this case, it is clear there was just a focus on the social mission and the infrastructure in the organisation was not there at all. That then manifested itself in deficiencies under our standards, in the need for the bailout and the lack of due diligence around procurement in housing first.