Mr. Seamus McCarthy:

I would like to come in here because I signed the audit certificate for Beaumont. We do not flag it up as adverse opinion but we do say in the opinion that in compliance with the accounting standards for voluntary hospitals, the Beaumont hospital board accounts for the costs of superannuation entitlements only as they become payable. This accounting basis does not comply with financial reporting standard 17 which requires such costs to be recognised in the year the entitlements are earned. Except for the accounting treatment of the board’s superannuation costs and liabilities the financial statements give a true and fair view in accordance with generally accepted accounting practice in Ireland of the state of Beaumont hospital board’s affairs at 31 December 2012 and of its income and expenditure for 2012. It is different phrasing. The same kind of point is being made by the auditors of St. Vincent’s.