In terms of the performance of the TCTA, the focus was on the deficit for the 2010/11 and 2011/12 financial years. The audited results for 2010/11 recorded a R24 million surplus and this had been restated to a deficit of R284 million in the current financial statements. The overall reason for the restatement was due to a change in accounting policies applied retrospectively to 31 March 2011, in accordance with the International Accounting Standards Presentation and Disclosures, related to construction assets, previously recognised as property, plant and equipment and intangible assets.