RTÉ Seeks New Auditors and Tax Advisors Amidst Governance Reforms

Following a series of controversies and investigations into its governance, RTÉ has announced it will be seeking new external auditors and tax advisory firms.

The public service broadcaster has put out to tender its external audit service contract, estimated to be worth €990,000 over the next three years. The work will include an audit of the annual earnings of the top 10 highest-paid RTÉ presenters, a key area of scrutiny after the undisclosed payments to Ryan Tubridy emerged in June 2023.

Background of Audit Changes

The payments scandal, which surfaced during Deloitte’s 2022 audit, led to several significant changes within RTÉ. Minister for Media Catherine Martin confirmed in October that RTÉ will move under the remit of the Comptroller and Auditor General (C&AG). This was one of the key recommendations from the Expert Advisory Committee (EAC) report, commissioned in response to the payments controversies.

As part of this transition, the new tender states that RTÉ will be required to submit annual accounts to the C&AG for each RTÉ Group entity and for the overall RTÉ Group. The successful auditor will need to factor in time for liaising with the C&AG for financial years commencing in 2025.

The tender emphasizes the importance of independent, professional assurance that the annual financial statements are free from material misstatements. The auditors will communicate with the RTÉ Audit and Risk Committee and address any significant matters requiring attention.

Tax Advisory Services Tender

In addition to the audit contract, RTÉ has also issued a tender for tax advisory firms. This three-year contract, estimated to be worth €600,000, will provide tax compliance and advisory advice to RTÉ and its subsidiaries. KPMG currently holds the contract for this service.

The 2023 RTÉ annual report shows that the broadcaster paid €244,000 to auditors for services, including €161,000 for financial statement audits and €83,000 for other assurance services.

The closing date for submissions for both tenders is January 16th, with RTÉ expecting to award the contracts by February 19th. A spokesperson for RTÉ stated that “both tenders relate to the appointment of suppliers of essential advisory services required by RTÉ, one to perform its annual statutory audit and the other to be its tax advisers.”

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