This has been another period of development for the ACT. To complete our recent education investment programme, this year saw the last of the major qualification revisions with the launch of a new MCT Advanced Diploma in October 2006. As a past chairman of the Education Committee, I have been closely involved with the development of the new approach and its innovative delivery format. The MCT Advanced Diploma provides a fully integrated qualification in the most complex financial issues within treasury, risk and corporate finance.