No mention of €445k pay deal in annual report
The remuneration package of recently departed IFA general secretary Pat Smith does not appear in the association's annual reports for the last two years.
The reports, the only two published on the IFA's website, contain only a basic summary of the organisation's finances. The most recently published report, for the year ended 31 March 2014, reveals the organisation had expenditure of almost €11.5m in the period, but a detailed breakdown of that expenditure is not provided.
The previous year it spent €12.6m, with a retained surplus of €333,466.
The scandal surrounding Mr Smith's package is likely to provoke calls for greater transparency from the IFA. IFA president Eddie Downey said it had established a "strengthened remuneration committee that is in line with best corporate governance practice".
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