Mr. Seamus McCarthy:

I think I would take a different view to Mr. Dunne. In my view, a matter of this nature and this seriousness should be raised immediately with the audit committee in the first instance and the audit committee should have been involved in the decision making and in advising the Commissioner on an approach and the provision of information to my office. I would have expected to know quite soon, but the first step, given the seriousness of the matters which I think was evident around July, was that the audit committee should definitely have been involved at that stage.