Results 621-640 of 1,128,472 for in 'Dáil debates' OR in 'Committee meetings' (speaker:Tom Kitt OR speaker:Éamon Ó Cuív OR speaker:Martin Kenny OR speaker:Michael McNamara OR speaker:Danny Healy-Rae OR speaker:Neale Richmond OR speaker:Éamon Ó Cuív5 OR speaker:Aodhán Ó Ríordáin OR speaker:Thomas Byrne OR speaker:Paul Murphy OR speaker:Cathal Crowe OR speaker:Bríd Smith OR speaker:Pippa Hackett OR speaker:Christopher O'Sullivan OR speaker:John Lahart OR speaker:Anne Rabbitte OR speaker:David Cullinane OR speaker:John Brady OR speaker:James Lawless OR speaker:Paul McAuliffe OR speaker:Patricia Ryan OR speaker:Niamh Smyth OR speaker:Mark Ward OR speaker:Joe Flaherty OR speaker:John McGuinness OR speaker:Dessie Ellis OR speaker:Robert Troy OR speaker:Bernard Durkan OR speaker:Jennifer Carroll MacNeill OR speaker:Mairead Farrell OR speaker:Joe O'Brien OR speaker:Micheál Martin OR speaker:Mick Barry OR speaker:Michael Lowry OR speaker:Richard Bruton OR speaker:Darren O'Rourke OR speaker:Thomas Pringle OR speaker:Jim O'Callaghan)

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Paul McAuliffe: If a charity has less than €10,000, it is an incredibly small operation. It more than likely does not have any paid staff and is mostly volunteer run. Equally, the auditing requirements are very onerous. Regarding audit fees in some cases, I know of one group with a total income of €2,500 and the cost of auditing is just north of €1,000. Has any consideration been...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Paul McAuliffe: I find it very frustrating, as does the group itself, which I will not name, that to carry out charitable work, and it inherited a legacy structure, 50% of its fundraising is to satisfy the Charities Regulator. While that is necessary, and I cannot see any other way around it, there is scope to have a more agile approach for smaller charities, as Ms Delaney mentioned. I will leave that with...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Paul McAuliffe: They are identified as chief executive No. 2 in the report.

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Paul McAuliffe: That is the first concern. Had the cash flow or the financial operational management not become an issue, it is likely that we might not have discovered the many other areas such as the co-mingling of donations, restricted and unrestricted funds, and issues of poor governance decisions by the board and so on. For the Charities Regulator, that must be a lesson in the sense that had the...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Paul McAuliffe: Does Ms Delaney accept that the relationship between CEO and chair is key? The governance issues or the protection of the public interest really rely on the board. When there is an entirely voluntary board and chairperson, however, without the independent resources of the staffing of the organisation, the board can be in a very weak position to monitor what is happening in the organisation.

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Paul McAuliffe: I agree, but does Ms Delaney accept the resourcing of the board is the issue there? I am not speaking about a particular case here, but if there was any attempt by a senior staff member, the CEO or staff in general to mislead the board, it could be incredibly difficult for a board that may meet once a month, whose members perhaps do not know each other very well as board members and who do...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Paul McAuliffe: Ms Delaney is outlining the obligations of the directors and the board and I do not take from those. My point is that many directors find it very difficult to fulfil that because they are entirely dependent for resourcing and expertise and information on the people who work within the organisation. Where it goes wrong, that is often the challenge.

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Paul McAuliffe: In some cases in community structures, for example, the people involved are very well meaning but perhaps do not have the experience and so on. That is the weakness of corporate governance in Ireland. It is the reason we will have other instances. We are not resourcing the boards. That brings me to my second point, which is the recruitment and retention of board members. Why in God's...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Paul McAuliffe: We can look at youth centres and community structures across the country. This is the spending of public money and it is governed by volunteers we are not providing sufficient resources to. These are the charities Ms Delaney and her colleagues regulate.

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: Gabhaim buíochas leis an Leas-Chathaoirleach agus leis na finnéithe as teacht os comhair an choiste. In the briefing pack it is mentioned that the Charities Regulator is responsible for the registration and regulation of charities in Ireland. Can I take it that the regulator grants charitable trust ownership structures to companies here as well? In other words, they must apply to...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: All right. Under the 2009 Act, the regulator is required to ensure and monitor compliance by charitable organisations and to carry out investigations in accordance with the Act. Does that apply to all companies with a charitable ownership structure?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: Does this include the type of structures that are traded within the IFSC?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: Why is that?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: I understand the regulator looked into this in 2017 and I think four companies were identified as using that section 110. Am I correct?

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: According to a press statement from 2017 that the regulator has on its website: The Charities Regulator has completed a review of registered charities holding shares in section 110 companies on trust. The purpose of the review was to establish the number of registered Irish charities holding shares in section 110 companies and to determine whether they fell within the remit of the...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: It would be fantastic if that could be brought to the committee. I am talking about three structures and obviously I am not aware of what three they were or anything like that, so I am not speaking about them. I am sure they are doing fabulous work. When the regulator is looking at those I assume it looks into the background of them, such as the way they are constituted and if there is a...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: That is good. I asked about that because over the last two and a half years there has been significant interest in the IFSC and IFSC-based shell companies that often use charitable trust ownership structures. Some of these firms have billions in assets. We know about some examples from research carried out by academics in Trinity College showing that Russian-connected funds funnelled...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: Yes, in order to acquire status.

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: Okay, but from the regulator's press statement there was the suggestion there were three that were using section 110. Ms. Delaney may wish to come back on that. I am just asking these questions because it is something I have a long interest in and it has been in the public eye. The Department of Finance did a review of section 110 in its entirety in the last year. Did it at any point ask...

Public Accounts Committee: Financial Statements 2023 - Charities Regulatory Authority (17 Oct 2024)

Mairead Farrell: Okay. On the back of this, I ask the regulator to come back to the committee with detail. It could look back to 2017 and see what the story is with those three structures and whether there have been any others. An Teachta Verona Murphy outlined the concern about the amount of staff the regulator has to look through 11,060 charities and whether it has enough funding to be able to look at...