I have been informed by the Revenue Commissioners that their audit programme will involve extensive checks on section 84 data, including the use of the information sources referred to in the Comptroller and Auditor General's report. The auditing of returns of lenders and borrowers would also include an examination of loan agreements and the seeking of evidence to ensure that the loans were used for qualifying purposes.
The Revenue auditors will also make specific efforts to reconcile information coming to light on audits with the returns made by lenders for stamp duty purposes under section 94 of the Finance Act, 1986.
The Department of Industry and Commerce and the IDA have agreed to monitor section 84 projects on lists drawn up by them. The Revenue Commissioners are in consulation with the Department of Industry and Commerce with a view to gaining access to these reports for audit purposes.