Mr. Seamus McCarthy:

The Further Education and Training Awards Council, FETAC, accounts for 2010 were delayed. We had questions about expenditure in respect of the development of a web-based information technology, IT, system which, I understand, was to record awards within the framework managed by FETAC. We sought explanations and there were delays in getting satisfactory explanations relating to that matter. Ultimately, we were satisfied that the contract management had been satisfactory, but the result was that we could not sign off on the account until we received those explanations. We will be examining the project further to see if it delivered what was expected. FETAC has since been integrated into the Quality and Qualifications Ireland organisation.

With regard to the National College of Art and Design, these two audits were difficult to bring to a conclusion because of delays in the production of the financial statements. There were also gaps in the preparedness of the client for the audit, and there were long delays in obtaining answers to audit queries. We have completed the 2009 and 2010 audits. Obviously financial statements for 2011 are not yet ready, which represents a delay of nearly two years. We propose to issue an audit query in respect of this and we might report on governance matters and accounts production.

As regards University College Cork, UCC, there was a delay. My predecessor reported previously on issues around the transfer of pension liabilities from the pension funds of the universities to the national pension fund. The delay by UCC in completing its accounts and by the governing body in signing off on them was related to the way in which the liabilities for pensions should be presented; they sought legal opinion on the matter. The accounts for 2010 were only signed off by the governing authority in September 2012, and were signed off by me in December 2012. The 2011 accounts were signed off in December 2012 by both the governing authority and me.