The audit committee in my Department has monitored the development of the Department's risk management strategy at each meeting held since the Mullarkey report issued and is encouraged by the progress made to date by the Department in this regard. In particular, the committee was pleased to note the appointment of two full-time experienced persons to progress the risk management initiative within the Department. The committee will continue to monitor the implementation of my Department's risk management strategy and will, in the near future, invite the Department's risk management team to give a detailed presentation to the committee. This will be followed by examination and monitoring on an ongoing basis of the issues arising.