Mr. Seamus McCarthy:

It does. We charge on a per diembasis. Therefore, we charge at a specific rate based on the number of days we have to put into the audit.

No. 40 relates to the final financial State body, the Strategic Banking Corporation of Ireland, SBCI, and the accounts are for 2022. The body received a clear audit opinion. However, I draw attention to a disclosure in the financial statements of losses that are expected to arise for the State from a suspected fraud on an on-lender. The expected cost arising for the State is of the order of €860,000. This relates to a couple of loan guarantee schemes in respect of which the State was carrying a certain liability. It was expected that this payout would occur, and it is likely to be passed back to the Departments funding the guarantee schemes, which have been organised by SBCI. I point out for the record that when SBCI presented its financial statements, it put an incorrect date on my audit certificate. It is actually dated 2022 but in fact I signed it in 2023, obviously. I believe SBCI is going to take steps to correct the record in relation to that. I signed on 22 June 2023, contrary to what is stated in the financial statements themselves.