Wednesday 18 September 2019

New probe ordered in Positive Action case

"The Authority has, with the approval of the High Court, annulled the decision [by] CPA Ireland's Investigation Committee and directed the Institute to undertake a fresh investigation," said IAASA. Stock photo

Fearghal O'Connor

A key accountancy body has been ordered to undertake a fresh investigation into an audit of a charity by one of its members.

The charity was closed down in 2014 after a HSE audit had previously uncovered "considerable extravagance".

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Positive Action - a charity set up to support women infected with hepatitis C from blood products supplied by the State - was audited by Cronin & Company.

In 2016 a former director of the support group was jailed for stealing more than €116,000 from the organisation. It had 730 members and received the majority of its funding from the HSE.

Cronin & Company had successfully defended itself from a regulatory investigation by CPA Ireland, the Institute of Certified Public Accountants.

But in May the Irish Auditing and Accounting Supervisory Authority (IAASA) commenced a new enquiry on foot of a complaint made by the HSE regarding the audit of Positive Action by Cronin & Company, which is a member firm of CPA Ireland.

"The Authority has, with the approval of the High Court, annulled the decision [by] CPA Ireland's Investigation Committee and directed the Institute to undertake a fresh investigation," said IAASA. It said that it was "not satisfied that the Institute complied with the approved investigation and disciplinary procedures".

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