Audit reveals reveals losses of €113,493

Such was the scope of the Deloitte audit of Horse Sport Ireland that last week’s column could not give it the coverage it warranted.

Hence, this week I return to some of the more salient points in the comprehensive report, which runs to 61 pages.

For example, Deloitte noted that a wholly-owned subsidiary of HSI, Horse Sport Ireland Export Ltd had made losses of €113,493 as of December 31, 2014, but the consolidated financial statements of HSI and the subsidiary were not prepared by HSI on the grounds there is no requirement under company law.