Thank you.
One of your four priorities is articulating the value of your audits. I'm hoping you can elaborate on that a little. I'm finding a little discrepancy within your “Indicator Table 1” about value of audits. For the “percentage of departmental senior managers who find our department audits add value”, the target is only 70%. I'm wondering why only 70% when for the board chairs the target is 90% and for audit committee chairs the target is 90%. You had an actual of 79% who thought it added value in 2011-12, yet now you're accepting a target of 70%.
I want to understand this concept of adding value. How are you going to measure that, why the 70%, and what is the value?