RTÉ has put out to tender its external audit service contract, worth an estimated €990,000 over the next three years.
The work is to include an audit of the annual earnings of the top 10 highest-paid RTÉ presenters.
In June 2023, RTÉ revealed undisclosed payments to Ryan Tubridy, prompting events that led to his departure from the station and multiple investigations into its governance.
The payments surfaced during external auditor Deloitte’s 2022 audit. Deloitte has been RTE’s external auditor since 2018.
In October, Minister for Media Catherine Martin confirmed that RTÉ is to move under the remit of the Comptroller and Auditor General (C&AG)
The move was one of a series of recommendations, contained in the Expert Advisory Committee (EAC) report on governance and culture in RTÉ, that was commissioned in the wake of the payments controversies.
The new tender states RTÉ will be required to submit annual accounts to the C&AG for each RTÉ Group entity and the RTÉ Group for audit by them, and the successful tenderer should factor in appropriate time for liaising with the C&AG for financial years commencing in 2025.
As part of the work specification, the RTÉ tender states that the financial statements should be audited by the external auditor and approved no later than June 30th each year.
It states that the successful independent external auditor will be required to engage with and work in conjunction with the C&AG on certain areas of audit focus.
The tender states that “the objective of the audit service is to ensure that the members of the RTÉ Board or, where applicable, the directors receive adequate, independent, professional assurance that the annual financial statements are free from material misstatements, whether caused by error or fraud”.
The auditors will also be required to communicate with the RTÉ Audit and Risk Committee in respect of the audit and of any significant matters that the external auditor believes requires their attention.
The external auditors will also be required to carry an audit of the statutory spend of the RTÉ Independent Productions Unit in respect of television and radio productions commissioned from third-party television and radio producers.
The broadcaster has also issued a tender for tax advisory firms to provide tax compliance and advisory advice to RTÉ and its subsidiaries.
RTÉ states that the €600,000 value of the three year long contract is an estimated value and may vary. KPMG operates the current contract.
The 2023 RTÉ annual report shows that under the heading of auditors’ remuneration, RTÉ paid out €244,000 – €161,000 for audit of the financial statements and €83,000 for ‘other assurance services’.
The closing date for submission of both tenders is January 16th and RTÉ expects to award the contracts by February 19th.
A spokesman for RTÉ said today: “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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