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Inspectors appointed to Peter McVerry Trust to probe allegations of financial irregularities

In a public notice posted to its website the AHBRA said it had determined that a statutory investigation is required “having identified concerns in relation to the organisation”

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The State regulator for approved housing bodies has appointed inspectors to the Peter McVerry Trust (PMVT) to investigate allegations of financial irregularities at the housing and homelessness charity.

The Approved Housing Bodies Regulatory Authority (AHBRA) confirmed on Tuesday that it had appointed inspectors to the PMVT, one of the most high-profile homelessness charities in the country, in response to queries.

In a public notice posted to its website the AHBRA said it had determined that a statutory investigation is required “having identified concerns in relation to the organisation”.

It said it was first notified “a number of financial and governance issues by PMVT through the notifiable events process in July” of this year.

Government sources signalled the development was significant and concerned allegations of financial irregularities.

One senior figure said the possibility of the charity needing an immediate bailout has already been mentioned.

PMVT received more than €38m in state funding in 2021, which accounted for most of its €53m in income that year.

The charity confirmed last month that it was experiencing “cash flow pressures” that are “more acute than would traditionally be the case”.

AHBRA said in a statement on Tuesday it “has appointed inspectors pursuant to Section 46 of the Housing (Regulation of Approved Housing Bodies) Act 2019, to conduct a statutory investigation of the Peter McVerry Trust (PMVT)”.

It added: “It is important to note that the commencement of a statutory investigation is not in itself a finding of any wrongdoing. The appointed inspectors have been asked to prepare and submit to AHBRA a report on their investigation and findings. AHBRA will not be making any further comment while the investigation is ongoing.”

In a statement PMVT said it had been engaging with AHBRA since it notified it of “significant cashflow issues” in July and was notified of the appointment of inspectors to the charity on Tuesday afternoon.

“This is an important part of transparency and accountability for our organisation, and we will work with the inspectors and AHBRA in the best interest of the over 2,000 service users and tenants as well as the staff that support them,” the statement said.

A Department of Housing spokesperson said “statutory responsibility in relation to the provision of homeless services rests with individual housing authorities”.

They added: “In July the Peter McVerry Trust informed the DRHE [Dublin Regional Homeless Executive] and the Department of potential financial issues in the Trust. PMVT has advised the Department that the Charities Regulator and ABHRA have been informed.

“The DRHE have initiated an independent review into financial and governance matters and while this process is ongoing the Department will not comment any further.”

The Currency reported last week that the accountancy firm PWC had identified serious financial issues at PMVT that could require exceptional funding urgently amid concerns it does not have sufficient funds to cover its cost as soon as the end of the month.

The charity, which says it has worked with over 12,000 people and was active in 28 local authorities across Ireland last year, was founded by Fr Peter McVerry, a Jesuit priest and homelessness campaigner, in 1983.

The Department of Housing does not fund any homeless service directly but instead provides funding to local authorities which provides this funding towards the operational costs of homeless accommodation and related services.

News of the financial issues at PMVT was first reported by The Business Post in mid-August.