Oireachtas Joint and Select Committees
Thursday, 27 January 2022
Joint Oireachtas Committee on Transport, Tourism and Sport
National Broadband Plan Update: National Broadband Ireland
Mr. Peter Hendrick:
I am. The management team is. The board includes independents, including the Minister's appointee. On top of that we have internal auditors, PwC, and external auditors, Grant Thornton, who assess our financial stability. We have an audit and risk committee that meets regularly to assess what Mr. Kelly and the team pull together in terms of our financial planning. We have all of what is normally called the three lines of defence under corporate structures. If you only have one line, you are reliant on the management team. There are three lines - the management team, the audit and risk committee, and the auditors. There are several layers of defence. On top of that we have a Department with 55 advisers who are also assessing our financial stability, the programme and the subsidy flow. In a good, strong, publicly quoted company, normally there are three lines of defence, as we call it. I would say we have five in this project. Personally, and for the management team, we are very comfortable with the corporate structure and the funding of the business.
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