I have been informed that, in common with many other public bodies, Shannon Development employs external specialists to fulfil its internal audit function. Shannon Development uses the services of Deloitte (Limerick) to provide this function. The internal audit programme is agreed with the audit committee of Shannon Development and is approved by the full board. On occasion, Deloitte is also engaged to undertake specific assignments by the board that would not fall within the agreed internal audit programme.
In the case of the sale of the former Burlington plant at Gillogue, County Clare, the board engaged Deloitte to review the process whereby the factory and adjacent lands at Gillogue were offered for sale. Following legal advice and concerns about a possible legal challenge the commission was cancelled and an alternative review process instituted. No report has issued on foot of this process. The day-to-day operation of Shannon Development is a matter for the board and management of the company. However, my Department has requested and received a number of updates from the company regarding the sale of the Gillogue property. In accordance with the relevant reporting obligations on State bodies the chairman of Shannon Development has confirmed to me that the Shannon Development has adopted and is complying with the Government's code of practice for corporate governance.