Dáil Éireann Debate, Wednesday - 12 July 2023
196. Deputy Paul Murphy asked the Minister for Agriculture, Food and the Marine the reason the Chief Executive of Horse Racing Ireland was the one to choose who would conduct the independent review of IHRBs financial issue (details supplied); if he will review this decision and appoint an independent auditor with no connection to the industry; and if he will make a statement on the matter. [34594/23]
View answerThe Irish Horseracing Regulatory Board (IHRB) is the regulatory body for all horseracing in Ireland. The role of the IHRB as the regulatory body for horseracing is provided for in legislation, however, the body itself remains a private entity.
Horse Racing Ireland (HRI) is a commercial state body established under the Horse and Greyhound Racing Act, 2001, and is responsible for the overall administration, promotion and development of the horse racing industry. Legislation provides for a funding mechanism to be in place under which the costs of integrity services provided by the IHRB are guaranteed by HRI based on an agreed annual budget. From 2019, the annual financial statements of the IHRB are audited by the Comptroller and Auditor General (C&AG), submitted to my Department, noted by Government and laid before the Houses of the Oireachtas.
My Department was notified by the IHRB of a financial issue on 28 June 2023. IHRB also informed my Department that the Board of IHRB has commissioned a full review of the issue to be conducted by an independent firm.
My Department has written to both IHRB and HRI, as the state body with governance oversight of IHRB, and requested that the review be completed as a matter of urgency and that my Department be kept informed of developments. Officials of my Department will continue to engage proactively with both HRI and IHRB on this matter.
