Committee of Public Accounts to examine 2022 Financial Statements of Horse Racing Ireland (HRI) and Irish Horseracing Regulatory Board (IHRB)

The Committee of Public Accounts (PAC) will meet tomorrow, Thursday, 20 June, in Committee Room 3 of Leinster House to examine the 2022 Financial Statements of Horse Racing Ireland (HRI) and the 2022 Financial Statements of the Irish Horseracing Regulatory Board (IHRB).

The meeting at 9.30am will be joined by the Office of the Comptroller and Auditor General, Mr Seamus McCarthy, and representatives from HRI led by the CEO Suzanne Eade and the IHRB led by the CEO Mr Darragh O'Loughlin, who are the accountable people to the Committee of Public Accounts. Officials from the Department of Agriculture, Food and the Marine will also be in attendance.

PAC Cathaoirleach Deputy Brian Stanley said: "Horse Racing Ireland is the governing body of thoroughbred horse racing in Ireland and has responsibility for the governance, development, and promotion of the industry under the Horse and Greyhound Racing Acts 2001 to 2016.

"HRI receives Exchequer funding through the Horse and Greyhound Racing Fund, which was established under the Horse and Greyhound Racing Act 2001 and is controlled and administered by the Minister through the Department of Agriculture, Food and the Marine.

"In 2022, HRI received €70 million from the Fund, a decrease of €7 million compared to 2021. HRI has several 'other' streams of revenue, such as prize money contributions from owners and sponsors, media income, and a foal levy. Group income for the year amounted to €92.5 million, compared to €68.6 million in 2021. This 35 per cent increase mostly relates to an increase in Tote betting income.

"Matters for the Committee to examine with HRI include animal welfare and traceability; the growth and sustainability of Ireland's horse racing and breeding industries; the Curragh Racecourse development; security and standards for the sport of horse racing in Ireland; standards of integrity and anti-doping; trickle-down of prizemoney; clarity of roles with regard to other players in the sector; and protecting the industry's reputation and economic value.

"The Irish Horseracing Regulatory Board has responsibility to provide independent regulation of Irish horse racing as set out in the Horse Racing Ireland Act 2016. The majority or 77 per cent of the IHRB's grant funding is derived from Integrity Services Grant Income including Capital Grant Income, which is guaranteed by HRI on the basis of an agreed annual budget. Income in 2022 amounted to €13.6 million, up from €11.7 million in 2021.

"Key issues for the Committee with regard to the IHRB are the independent external review in relation to financial governance, enforcement of the rules of racing, provision of integrity services such as monitoring and controlling the activities of horseracing officials, providing licences to horseracing trainers and jockeys; enforcing doping controls; and providing forensic testing and handicapping.

"The Committee looks forward to examining the 2022 financial statements of both HRI and the IRHB and related matters with Ms Eade, Mr O'Loughlin and their colleagues."

The meeting in Committee Room 3 can be viewed live on OireachtasTV.

PAC is a standing committee of Dáil Éireann which focuses on ensuring public services are run efficiently and achieve value for money. Further information on the role and remit of the Committee can be found here.

Committee proceedings can also be viewed on the Houses of the Oireachtas Smartphone App, available for Apple and Android devices.