Sunday 18 August 2019

FAI credit card and bank accounts sought as details of auditors' investigation revealed

Former FAI CEO John Delaney
Former FAI CEO John Delaney
(Stock photo)
Daniel McDonnell

Daniel McDonnell

The FAI has been asked to provide auditors with the minutes of all board meetings, finance committee meetings and audit committee meetings between 2015 and 2018.

Abbotstown authorities have also been asked for a schedule of all bank accounts and credit card accounts.

KOSI is the Northern Ireland firm hired by Sport Ireland to carry out an audit of FAI finances.

Sport Ireland has provided the Oireachtas Committee on Sport with details of the terms of reference. While the scope is primarily centred around the FAI's compliance with the terms set out by Sport Ireland for grant funding, the list of requests is more detailed.

In addition to assessing if grant funding was managed appropriately, the auditors will explore if there are "matters of concern regarding the wider FAI Financial Administration and Internal Controls".

Under the heading of "Forensic Analysis", KOSI will look for verification of bank payments by the FAI and recipients of payments.

They will seek matching bank statements to income/expenditure primary documents and to the financial system.

They have made 20 initial requests for information to the FAI which include the minutes of all board meetings, finance committee meetings, audit committee meetings and remuneration committees between 2015 and 2018.

On top of that, they want a "schedule of all bank accounts including credit card accounts in operation in the FAI for the years 2015-18".

They are also seeking copies of financial forecasting reports including cash flow forecasts in the same period.

The KOSI review is one of six ongoing investigations related to the affairs of the FAI dating back to the emergence of ex-CEO John Delaney's bridging loan to his employer.

Irish Independent

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