Board Unaware: Peter McVerry Trust’s 2016 Celbridge Property Deal Unveils Governance Issues

Friday, 11 October 2024 11:43

By Martin Osborne

The board was unaware of this purchase until 2023.

The Peter McVerry Trust asked its external auditor to purchase a property in Celbridge in 2016 to prevent the public from knowing that the charity was behind the transaction.

This raises governance concerns, as involving an auditor in such deals breaches auditing independence.

According to Prime Time, the house was leased to a friend of former CEO Pat Doyle, who didn’t meet the usual housing criteria, and later received a transport contract worth €200,000 annually.

The board was unaware of this purchase until 2023.

The Charities Regulator's draft report also highlights conflicts of interest, such as transactions with the auditor and insufficient financial oversight, raising further concerns about the charity's governance.

The charity, with €62m in income for 2022, supports over 4,400 people and employs 530 staff.

In a recent statement to Kfm regarding the transport contract, a spokesperson for the Peter Mcverry Trust said: "It is PMVT policy not to comment while the Charities Regulator and the Approved Housing Bodies Regulatory Authority continue statutory investigations of the Trust arising from financial difficulties. The Trust has cooperated and continues to cooperate, fully with these investigations."

They added: "Through financing from the State, the Peter McVerry Trust continues its work with some of the most vulnerable people in our society, supporting approximately 3,000 individuals, families and children each week, including people who are homeless, people with mental health difficulties, and people experiencing addiction."

They said the Trust has implemented new organisational policies and procedures and remains focused on delivering its services within its resources.