Thank you, Mr. Chair.
Thank you, gentlemen, for being here, and of course, for the important work that you do for Canadians.
What is clear to anybody who looks at this file is that there has been mismanagement after mismanagement after mismanagement. If there are regulations in place, those regulations were not been followed from the beginning, and that is the nature of my questions to you this morning, Mr. Ferguson.
In your report you outlined very clearly Treasury Board policies when it comes to acquisitions. You clearly state that Treasury Board policies consider all relevant costs over the useful life of equipment, not just initial acquisition or basic contract costs.
The Minister of Defence, on April 8, 2012, contradicted you and said that it was an accounting difference.
My first question to you is, is it or is it not a difference in accounting?