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Office of the Director of Corporate Enforcement

Dáil Éireann Debate, Tuesday - 4 December 2018

Tuesday, 4 December 2018

Questions (88)

Maurice Quinlivan

Question:

88. Deputy Maurice Quinlivan asked the Minister for Business, Enterprise and Innovation the status of the reform of the Office of the Director of Corporate Enforcement; and if she will make a statement on the matter. [50483/18]

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Written answers

One of the actions in the Government's package of Measures to Enhance Ireland’s Corporate, Economic and Regulatory Framework, published in November 2017, is the establishment of the Office of the Director of Corporate Enforcement (ODCE) as an agency.

Work on the development of the legislative framework for the establishment of the ODCE as an agency is well advanced. I intend to bring a General Scheme of a Bill to give effect to that action to Government shortly.

Changing the structure of the ODCE from an office to a statutory agency will provide greater autonomy to the agency in relation to staffing resources and ensure it is better equipped to investigate increasingly complex breaches of company law. Sourcing of expertise and specialist staff, such as forensic accountants, will be enhanced under the agency model.

This establishment of the ODCE as an Agency is intended to:

- Enhance the ODCE's independence, by providing it with more autonomy, particularly the ability to recruit the required specialist skills and expertise;

- Build on its existing expertise and experience;

- Strengthen its capability to investigate increasingly complex breaches of company law; and

- Build on the organisational and procedural reforms that have been implemented.

Organisational reforms in the ODCE were commenced in 2012 to enhance the capability of the Office to investigate complex breaches of company law and to ensure a more efficient and effective use of its resources. These include:

- Reorganising the structure of the Office;

- Recruiting additional expertise, including 8 Forensic Accountants, a Digital Forensic Specialist, 2 Enforcement Portfolio Managers and 2 Enforcement Lawyers;

- As senior-level vacancies have arisen, reconfiguration of the skill sets, competencies, roles and responsibilities associated with those posts to better reflect the organisation's current needs;

- Amending the investigative procedures used by the Office so that members of An Garda Síochána take the lead in all criminal investigations; and

- Fostering a greater culture of risk management within the Office.

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