The Approved Housing Bodies Regulatory Authority (AHBRA) has been appointed to conduct a statutory investigation into the Peter McVerry Trust.
The AHBRA announced that “pursuant to Section 46 of the Housing (Regulation of Approved Housing Bodies) Act 2019” it has appointed inspectors.
Pointing out that the undertaking of an investigation is not in itself proof of wrongdoing AHBRA said it has “determined that a statutory investigation is required having identified concerns in relation to the organisation in relation to a number of “financial and governance issues by PMVT through the notifiable events process in July 2023,”
Stating that further comment would not be offered while the investigation is ongoing the body said that inspectors appointed by it have been asked to prepare and submit a report on their investigation and findings.
The Peter McVerry said the investigation “is an important part of transparency and accountability for our organisation, and we will work with the inspectors and AHBRA in the best interest of the over 2,000 service users and tenants as well as the staff that support them,”
The charity said that it had been contacted by AHBRA in July this year “to notify it of significant cash flow issues and has been engaging with AHBRA since then. We can confirm that we received notice this afternoon of a decision by AHBRA to appoint inspectors to the charity,”
This comes after it was reported that the PwC were to carry out an independent audit into financial matters and governance within the charity.
The Peter McVerry trust was established in 1983 by Jesuit priest Fr. Peter McVerry.
Gript’s Matt Treacy previously reported that in 2021, the Peter McVerry Trust “employed 500 Full Time Equivalent employees. It had a self-generated income of almost €12 million, mostly from donations. It received a further €38.4 million from various public bodies. It has net assets of over €47 million. In 2021, it spent almost €33 million paying its own staff.