Barter account only off-sheet account held by RTÉ

A report by auditing and accounting firm Mazars has not identified any further off-balance sheet accounts held by RTÉ between 2017 and 2022, apart from the controversial barter account.and trade credit balances held with three identified media agencies - outside of the financial statements for part of the review period.In the 2017 and 2018 financial statements, RTÉ did not account for purchases made through utilisation of barter trade credits, amounting to €186k and €233k respectively.

The broadcaster said this was a key reason why there was a deficit in record-keeping for purchases from 2017 to 2019. Documents for 34% of invoices/receipts and 17% of signed booking forms were not available for the review. Mazars noted that several barter account purchase transactions where the basis of approval of these purchases was not clear, due to these events being expensive in nature and the commercial benefit to RTÉ not being clear in the absence of a valid and documented assessment by the broadcaster.

Overall, Mazars said there was a lack of clear oversight of the process by the former commercial director, former group commercial director, former chief financial officers, the former director general and the RTÉ Board.The RTÉ's chair’s annual comprehensive report to the minister, which details travel, subsistence and client hospitality expenditure, incorrectly omitted certain barter account purchases amounting to €654,000 between 2017 and 2022, according to Mazars.

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