Mr. Seamus McCarthy:

The difference between cash accounting and accrual accounting is that cash accounting is about the money that was actually received or issued in the year. With accrual accounting, the Central Bank, in presenting it, would have to say that this is the correct amount, if you like, that we have the complete identification of the income for the year. That is the point that was of concern with the revenue. Until it was sure that it had systems that would identify the totality of the income in the year, it could not move to accrual accounting. All around, we are moving into a better space. We will have more appropriate accounts. Deputy McAuliffe asked earlier if the settlement figure would be rolled up into the levy. Specifically, that is the one thing that is clear. The levy amount can be seen. To roll any other income or return into that figure would be a retrograde step. They should be kept separate.