C&AG report: Report queries ‘missing’ €44.8m

The Department of Social Protection has been unable to explain a €44.8m discrepancy in its data on debt recorded as outstanding from employers.

The C&AG Annual Report says that the amount of redundancy and insolvency debt recorded as outstanding from employers has risen year on year, from nearly €200m at the end of 2010 to an estimated €469m at the end of 2014.

In the chapter on ‘Management of Redundancy and Insolvency Scheme Debts’, the C&AG states: “The department considers that approximately 90% of the €469m debt recorded as outstanding at the end of 2014 will require write-off given that it related predominantly to insolvent companies in liquidation.