Richard Bruton (Dublin North Central, Fine Gael)

As Deputy Walsh noted, the Revenue Commissioners are monitoring approximately 700 cases. In 2011 around 70 cases involving more than 100 struck off companies were investigated by the ODCE. At least 50 were deemed not to be suitable for legal action and remain under investigation. In the remaining 20 cases disqualification proceedings were initiated or being actively contemplated at year end. The ODCE obtains a lot of co-operation from many bodies, not just from the Revenue Commissioners, but also from the Construction Industry Monitoring Agency which investigates complaints of non-compliance with registered employment agreements in the construction sector, from the Pensions Board and the Office of the Pensions Ombudsman in respect of unpaid pension contributions, and from the Department of Social Protection in respect of outstanding redundancy liabilities. Information is gathered by the ODCE in an attempt to identify unliquidated insolvent companies or cases of abuse. The liquidator has the obligation to report company directors within six months of his or her appointment.

The system is designed to catch these cases, but if the Deputy has specific information or proposals that will help to tighten this up, I will certainly have it or them examined. I will certainly examine whether a role for auditors would help. Obviously, we have to be conscious of regulatory burdens and obligations; therefore, we would have to assess whether the measure would confer more benefits in catching wrongdoing over the cost that might be imposed on those who are doing their business according to the books.

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