Dáil Éireann Debate, Tuesday - 11 December 2012
320. Deputy Terence Flanagan asked the Minister for Justice and Equality the date on which legislation will be introduced to allow charities to make their financial accounts information public; and if he will make a statement on the matter. [55138/12]
View answerThe Charities Act 2009 was enacted with the objective of strengthening the regulation of charitable organisations and increasing their transparency and accountability in order to maintain and enhance public confidence in the sector. The Act provides for the financial reports of registered charities to be made publicly available. However, these provisions are contingent on the establishment of a new Charities Regulatory Authority and a statutory register of charities as also provided for under the Act. Due to the anticipated costs of these measures, the further implementation of the Act had to be deferred. I intend to consult publicly in the near future on cost-effective options for bringing the provisions of the Act into force.
There is, at present, a range of regulatory oversight measures that can apply to charities. Many charities are already subject to scrutiny by various State Bodies. The Revenue Commissioners have granted charitable tax exemptions to almost 8,000 charities and have significant powers to ensure that such charities comply with tax law. A full list of these charities is available to the public at www.revenue.ie. Many charities are companies limited by guarantee and, as such, are also subject to the provisions of company law and are generally required to provide financial information to the Companies Registration Office under the Companies Acts. This information can then be accessed by the public. Such charities would also potentially be subject to scrutiny by the Office of the Director of Corporate Enforcement. Charities that take the form of a trust are subject to the provisions of trust law. And, of course, any business entity is subject to general criminal and fraud legislation. Finally, it is of course open to charities themselves to make such information available in line with existing legislative provisions.
