It would appear that Montrose has an equal amount of accountants and broadcasters. Terence O’Rourke, former head of KPMG, is the most recent addition to the RTÉ merry-go-round. He is succeeding Siún Ní Raghallaigh as the chairman, an accountant who had a surprising dismissal under Minister for Media Catherine Martin’s public scrutiny.
Furthermore, the situation unfolded after Grant Thornton, an accounting firm, was brought in to scrutinise Ryan Tubridy’s finances. This was followed by the ill-fated spectacle of the Toy Show the Musical, putting the accountants, Breda O’Keeffe and Richard Collins, previously finance leads at RTÉ, in the public eye.
Another significant player in this is Deloitte, the official auditor for RTÉ since 2019. It was Deloitte that initially expressed apprehension over Tubridy’s convoluted payment method via the notorious “barter” account. However, Deloitte’s internal documents revealed to the audit and risk committee of RTÉ’s board that there were “no significant control deficiencies” in the 2022 audit. The turmoil that persisted in the months that followed the scandal’s unveiling indicates otherwise.
Further accountants are set to join the scene soon. With the way things are going, the Comptroller & Auditor General could find themselves taking the reins of the RTÉ audit if the Dáil’s Committee of Public Accounts gets what it wants. Taoiseach Leo Varadkar has even brought this to the public’s attention.
This could certainly imply that Deloitte’s time with RTÉ is coming to an end. Even if the C&AG doesn’t take over, it’s clear a change is on the horizon. Anne O’Leary (yet another accountant), a member of the RTÉ board, informed the Oireachtas media committee that the board is “now taking a look at appointing a different auditor and that will go out to tender”.
The saga could be set to take another turn with an upcoming report on RTÉ corporate governance by Professor Niamh Brennan of UCD, a qualified accountant with KPMG. Make sure to stay informed with daily business alerts and up-to-date news via WhatsApp. Our Inside Business podcast provides an in-depth weekly look at the latest business developments.