Committee of Public Accounts to examine 2021 Financial Statements of Irish Horseracing Regulatory Board (IHRB)

The meeting at 9.30am will be joined by the Office of the Comptroller and Auditor General, Mr Seamus McCarthy, and representatives from the IHRB led by the CEO Mr Darragh O’Loughlin, who is the accountable person to the Committee of Public Accounts. Officials from the Department of Agriculture, Food and the Marine and representatives from Horse Racing Ireland (HRI) will also be in attendance.

PAC Cathaoirleach Deputy Brian Stanley said: “The Irish Horseracing Regulatory Board is the regulatory body for the sport of horseracing in Ireland. Its principal regulatory functions include responsibility for making and enforcing the Rules of Racing, providing integrity services for horseracing, licencing all participants of horseracing in Ireland, making all decisions relating to doping control, forensics and handicapping in respect of horseracing, and representation of Irish horseracing internationally in respect of its functions.

“In 2021 the IHRB’s income amounted to nearly €11.7m, the majority which was grant funding of €10.3m from Integrity Services Grant Income, which is guaranteed by Horse Racing Ireland on the basis of an agreed annual budget. Its other source of income is generated from its regulatory function of licensing, registrations, fines, appeals, objections, rule books, commissions, and other income, which amounted to €1.4m in 2021. Expenditure for the same period increased by more than €2.6m over 2020 to €11.7m. The main element of this increase related to personnel costs.

“Areas of interest to the Committee include non-compliance with remuneration disclosure requirements, information regarding the former CEO’s early retirement payment, motor vehicle expenses which amounted to €700,000, the approximately 80 per cent increase in costs in 2021, the Equine forensic unit which carries out post-race drug testing of horses, the jockeys drugs testing programme and increased consultancy costs. The Committee looks forward examining these and related matters with Mr O’Loughlin and his colleagues.”

The meeting in Committee Room 3 can be viewed live on Oireachtas TV.

PAC is a standing committee of Dáil Éireann which focuses on ensuring public services are run efficiently and achieve value for money. Further information on the role and remit of the Committee can be found here.

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