Charities Regulator to investigate crisis-hit Peter McVerry Trust

The Charities Regulator has said it will liaise closely with the AHBRA as it conducts its probe.

The Charities Regulator has appointed inspectors to investigate the crisis-hit Peter McVerry Trust to conduct a probe into governance and finance-related matters at the housing charity.

It is the second regulatory probe into the charity, which saw its CEO Francis Doherty quit the role on Wednesday after just four months in charge.

Mr Doherty tendered his resignation to the board of directors against the backdrop of a statutory investigation into financial and governance issues at the organisation.

In July, the Department of Housing was notified of acute “cashflow pressures” at the charity, with Mr Doherty saying that it had obligations to regulators and statutory funders to disclose challenges such as these when they arise.

PwC was enlisted to conduct an audit of financial and governance issues at the charity on foot of the concerns before the State’s watchdog for housing bodies launched its own probe.

Last month, the Approved Housing Bodies Regulatory Authority (AHBRA) stated it had appointed inspectors to conduct “a statutory investigation” of the Peter McVerry Trust.

Francis Doherty quit his role as CEO after only four months in the job.

In a statement on Wednesday, following Mr Doherty’s resignation, AHBRA added it had no further comment to make while its investigation is ongoing.

When approached for comment, charity founder and board member Father Peter McVerry pointed to the statement the charity had issued and said: “We’re leaving it at the statement for now”.

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The Charities Regulator has said it will liaise closely with the AHBRA as it conducts its probe.

The regulator’s CEO Helen Martin said: "While Peter McVerry Trust has engaged with the Charities Regulator on the concerns raised regarding its governance and finances, the Charities Regulator has determined, based on its inquiries, that a statutory investigation into the charity is warranted.

“In order to ensure that there is no unnecessary duplication of activities, we intend to work closely with the Approved Housing Body Regulatory Authority so that our activities are co-ordinated in so far as is consistent with our respective statutory functions.” 

Its inspectors will now prepare a report on their investigation and findings for the Charity Regulator, which added that the opening of a statutory investigation is not in itself a finding of any wrongdoing.

Charity founder and board member Father Peter McVerry previously said the issue happened because his charity had tried to help too many people.

"We expanded too fast in our desire to accommodate as many people as possible," he said.

"We are working with our funders to ensure continuity of care to very vulnerable people who avail of and are reliant on our services."

He also said that the charity is solvent because its assets exceed its liabilities and said: "We hope to resolve our cashflow situation".