Mr. Seamus McCarthy:

Certainly in the period from 2000 there was a build up in the number of entities that we audit. We are up at approximately 375 entities and there had been a build up from 2000 in that regard. Ironically, one of the issues that is causing a difficulty now is the amalgamation of bodies because that makes it trickier to close out the financial statements and so on. When a new entity is created we must decide on the appropriate format for the accounts and that can also contribute to delays. I do not particularly want to make excuses for the situation. I am not happy with it either. I agree absolutely with Deputy O'Donnell's remarks. We see it as a priority to increase the timeliness of the presentation of audited financial statements.