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14/03/2013
Audit Leads To Calls For Closure Of TBCT
Calls are being made for the Temple Bar Cultural Trust to (TBCT) to be disbanded following the publication of a highly critical report into it’s spending.
A Dublin City Council commissioned audit revealed a number of issues relating to the use of company credit cards, expenses, and salaries.
The role of TBCT is to promote events in the cultural area of the capital's city centre. It manages a mix of 28 commercial, residential and retail premises which were valued at €9.4m at the end of 2010.
Two issues raised by the audit included an employee using a trust credit card to pay the property tax on a second home, money which was then repaid via deductions from their wages. And there being no receipts for the vast majority of the €49,000 spent on credit cards in 2011 detailing exactly what was bought.
The audit concluded that internal controls were "unsatisfactory" and said the number and extent of weaknesses and regulatory violations represented "unacceptable exposure and risk".
(H)
A Dublin City Council commissioned audit revealed a number of issues relating to the use of company credit cards, expenses, and salaries.
The role of TBCT is to promote events in the cultural area of the capital's city centre. It manages a mix of 28 commercial, residential and retail premises which were valued at €9.4m at the end of 2010.
Two issues raised by the audit included an employee using a trust credit card to pay the property tax on a second home, money which was then repaid via deductions from their wages. And there being no receipts for the vast majority of the €49,000 spent on credit cards in 2011 detailing exactly what was bought.
The audit concluded that internal controls were "unsatisfactory" and said the number and extent of weaknesses and regulatory violations represented "unacceptable exposure and risk".
(H)
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