Mr. Gerry Fitzpatrick:

Again, I don't need to ... the IFRS puts constraints ... is ... is set for the directors to measure the financial statements. So when I challenge the directors in terms of the way they followed that standard that I think was appropriate, that that was a standard that dealt specifically with loan impairment, I think, has been discussed and well flagged that is an incurred loss model. And there is good reason why, I guess, that that standard was set in that way.

Previous standards had had a notorious capacity for manipulation where people made big bath provisions and, therefore, the comparability of information from one organisation to another was difficult. So the idea of setting a standard that it was an incurred loss model was well-intentioned and-----