Chartered Accountants Ireland (CAI) is investigating the work of Grant Thornton as long-time auditor of Bóthar, according to sources. The charity’s former chief executive was involved in the alleged misappropriation hundreds of thousands of euro over two decades.
The investigation comes on foot of a complaint received by the professional body from one of its members and is said to be at an early stage. The work will need to establish whether there are sufficient grounds to proceed to the disciplinary stage.
Some observers said the fact that Grant Thornton remains listed with the Companies Registration Office (CRO) as the auditor of Bóthar Company Limited By Guarantee suggests the charity’s board remains satisfied with the firm’s work.
A spokeswoman for CAI and a spokesman for Grant Thornton declined to comment. Representatives for Bóthar did not respond to questions from The Irish Times.
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The Charities Regulator appointed inspectors in October 2020 to carry out a statutory investigation into the Limerick-based charity, which gifts livestock to communities in developing countries, amid concerns of financial irregularities.
Bóthar subsequently took legal action against the charity’s former chief executive, David Moloney, in April last year, claiming in the High Court that he had misappropriated hundreds of thousands of euro of the organisation’s money to benefit himself and associates.
Mr Moloney, who had worked with Bóthar between 1995 and 2021 and led it from 2011, claimed in a sworn statement provided to the High Court the following month that he and the charity’s co-founder, Peter Ireton, had misappropriated as much as €1.1 million from the organisation over the years. Mr Ireton had died in tragic circumstances the previous month.
Mr Moloney claimed that for two decades the two men had made up fake projects in Africa and eastern Europe and shared the proceeds. He said he had spent the cash on items including family holidays and on his friends.
Mr Moloney also said that more than €240,000 had been taken from donations to the charity and handed to staff as Christmas bonuses during the period.
Staff believed that the payments were legitimate, while questions from auditors on the bonuses were dealt with by an accountant for the charity, he said.
A Garda investigation into the affairs of Bóthar remains ongoing, while the Charities Regulator has suspended its work pending the completion of the criminal investigation.
Bóthar, which has been led by interim chief executive Aideen O’Leary since the exit of Mr Moloney, is currently seek to recruit a new permanent chief executive, who will be tasked with working with the board on shaping a new strategy for the non-profit as it looks to “resolve legacy issues”.
The charity was established in Limerick in 1989 to send dairy cows to communities in Africa and has since grown to gifting goats, pigs, poultry, rabbits and bees to the developing world, and working on livestock projects in countries such as Zambia, Rwanda, Malawi, Nepal, Albania and Kosovo. The charity aims to help poverty-stricken families with income-producing livestock.
