Mr. Seamus McCarthy:

Go raibh maith agat, a Chathaoirligh. The accounts and financial statements presented are, No. 1, residential institutions redress special account for 2021. That received a clear audit opinion. The National Training Fund for 2021 received a clear audit opinion. The Qualifications and Quality Assurance Authority of Ireland for 2021 received a clear audit opinion. The Medical Bureau of Road Safety is a 2020 account which, for some reason, was not presented on time. When we were doing a catch-up, we identified that it needed to be presented. It received a clear audit opinion. The committee might want to follow up as to why there was a delay. The Garda Síochána Ombudsman Commission for 2021 received a clear audit opinion. Longford and Westmeath Education and Training Board for 2021 received a clear audit opinion.

The National Tourism Development Authority, also known as Fáilte Ireland, for 2021 received a qualified audit opinion. This is something I have done for a couple of years. The accounts for 2021 give a true and fair view except in relation to two matters. One is expected future pension funding and the second is recognition of a State grant debtor. Unlike most other State grant-funded bodies, the financial statements of Fáilte Ireland do not recognise a deferred retirement benefit funding asset in relation to some of its pension liabilities on the basis it considers it has not been provided with a statutory or other guarantee in relation to the future funding of this scheme. Many other funded bodies do not have that guarantee either but are recognising the deferred retirement benefit funding asset. The difficulty is it leaves the authority with a net liability situation on its balance but it still presents its accounts on a going-concern basis. It would be more appropriate for it to recognise this because it is a statutory scheme. The employees will have contributed to the scheme over the years, which creates a contractual obligation. Even though the authority does not have this statutory guarantee, it should recognise the asset.

Separately and conversely, the authority recognises a State grant debt of €12.9 million in respect of funding it surrendered in 2019 at the request of the Department to reduce the level of cash held by the authority. It maintains that is a debt owed to it. In my view, it does not meet the standard to be recognised. There are two conflicting recognition issues there. Those are the matters I draw attention to. It is a little technical and there is no difficulty with the organisation and its funding.

No. 8 is the Law Reform Commission. For 2021 it received a clear audit opinion. No. 9 is the National Haemophilia Council. For 2021 it received a clear audit opinion. No. 10 is Pobal. For 2021 it received a clear audit opinion. There is the residential institutions redress special account, which I certified on 15 June. It should have been presented earlier than it has been. The committee might want to follow up and receive an explanation for that.