Dr. Ruaidhrí Neavyn:

I will reiterate that what we are dealing with is the acquisition of seven companies, some 26 operating units, with a turnover of €12 million and fixed assets in excess of €20 million. The message I am trying to convey is that there is much to be gained.

In terms of who is engaged in the services, IBEC is engaged in the HR function. There is no cost being incurred from IBEC. As Deloitte's review of governance is being done as part of the institute's internal audit function, there is no additional cost.

Regarding project planning and the financial planning associated with consolidation, particularly the consolidation of accounts, which is the requirement set by the Comptroller and Auditor General, the Higher Education Authority, HEA, the Department of Education and Skills and ourselves-----