Auditor's report into spending: the key findings
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- Leading executives got bigger bonuses than regulations allowed.
- Executives were aware of overspending but this information was not given to the FAS board.
- FAS executives booked flights worth almost €1m outside of the approved procedures.
- Officials approved the spending of large sums on various projects, even though they were not authorised to do so.
- Payments were made in the absence of supporting documentation.
- There were no policies governing the authorisation and use of FAS credit cards.
- Credit card payments were made prior to the receipt of supporting documentation or authorisation.
- Tens of thousands of euro was frittered away on tickets for sporting events and concerts which were "not relevant" to FAS's business. l Spouses of top executives were brought on expensive foreign trips at great cost to the taxpayer.
Irish Independent
