RTE Exchange Account: There are no rules for paying for items through the exchange account

And the existing contracts for the exchange account were “unsigned”.

The swap account “black fund” was a major revelation surrounding the Ryan Tubridy payments scandal at RTÉ.

Now, a report by forensic auditor Mazars has found a lack of rules for using the account:

– RTÉ does not appear to have any officially approved policies and procedures for purchases via swap media agencies;

– these purchases do not appear to be subject to the formal purchase authorization requirements that apply to general purchases;

– these purchases do not appear to be based on formal procurement or bidding processes that apply to general purchases;

– The cumulative amount of purchases via exchange media agencies does not seem to be recorded as part of the monthly budget reporting.

– Access to such purchases does not appear to be restricted to an approved list of RTÉ employees.

The accountants also reviewed RTÉ’s Code of Conduct, which provides guidelines for employees regarding gifts and hospitality

“We note that this Code does not establish any specific thresholds or required approvals that may apply to media agency-related barter purchases,” the report reads.

Mazars also says it saw no benefit for RTÉ in exercising the option to make purchases through exchange media agencies “instead of cashing out the available trading balance as the value received appears to be the same or similar.”

Ryan Tubridy received €150,000 from the swap account as part of his deal with Renault, which was acquired by RTÉ.

The payments to Mr Tubridy came last year after his agent, Noel Kelly, sent management bills to a third-party company that operates the exchange account for RTÉ.

RTÉ has ​​used its exchange accounts to pay out hundreds of thousands of euros for alcohol, Ireland shirts, flip-flops, golf trips, cinema screenings, balloons, hotel stays, client meals at top restaurants, and game and concert tickets over the past decade.

TDs referred to the exchange accounts as “slush fund” between 2012 and last year.

RTÉ has ​​spent €1.6 million on customer entertainment and corporate hospitality over the past decade, the majority of which appears to have been through the Astus account. The same UK-based account was also used to secretly pay former Late Late Show host Ryan Tubridy €150,000 for 2021 and 2022.

The revelations sparked an unprecedented crisis at the national broadcaster, two parliamentary inquiries and a wide-ranging government-ordered external inquiry.

One of the most whimsical expenses was almost €5,000 for 200 pairs of Havainas flip-flops for a summer party for agencies and clients in 2016.

The accounts also show that RTÉ paid €874 for a chauffeur to drive an NK management worker who was eight months pregnant so that she could attend an event.

RTÉ also used its controversial exchange account to pay €275,000 for tickets and travel for customers for the Rugby World Cup, 10-year IRFU tickets and the 2019 Champions League final. In 2019, €111,000 was spent on travel and hotels to attract clients to the Rugby World Cup. The expenses for 10-year IRFU tickets cost €138,000. The expenses for the 2019 Champions League final amounted to 26,000 euros.

There have been dozens of hotel nights, including some listed on behalf of RTÉ executives, at places like the Waldorf Astoria and the Marylebone – which has been used at least a dozen times – in London, costing thousands of euros.

High spending items included an Ed Sheeran concert at Croke Park in November 2015 worth €13,730 including food, drinks and merchandise.

The then sales manager of RTÉ spent almost €12,200 on Bruce Springsteen tickets in a so-called “agency event” on August 24, 2016.

The channel also spent €9,090 on corporate box tickets at Aviva Stadium for concerts by Harry Styles, Eagles and Westlife.

Around €1,760 was spent on Garth Brooks tickets when he performed at Croke Park, while a further €2,481 was spent on entertaining concert-goers.