HRI'S Corporate Social Responsibility Policy
Corporate Social Responsibility
Horse Racing Ireland is the national authority for thoroughbred racing in Ireland, with responsibility for the governance, development and promotion of the industry under the Horse and Greyhound Racing Act 2001.
Code of Practice for the Governance of State Bodies
The governance of HRI is within the parameters of the Code of Practice for the Governance of State Bodies, which is published by the Department of Public Expenditure and Reform. This Code aims to ensure that State Bodies meet the highest standards of corporate governance and it plays a central role in our responsibility framework.
A new annex on Gender Balance, Diversity and Inclusion to supplement the existing Code of Practice for the Governance of State Bodies was published in September 2020.
The HRI Board
The Board of HRI was established through the Horse and Greyhound Act 2001. Under the terms of the Horse Racing Ireland Act 2016, the Board of HRI consists of a Chairman and 13 ordinary members, representing key sectors of the Irish racing and breeding industry. Board members must comply with the Ethics in Public Office Acts 1995 and 2001.
HRI operates a number of advisory Board sub-committees in relation to its statutory, corporate governance and operational functions and responsibilities. All such committees are established to provide independent strategic direction and to act in an advisory capacity to assist the executives and the HRI Board in the management of the function or body concerned.
The Finance Department
Audit and Risk
The Finance Department of HRI prepare financial statements annually for HRI and its subsidiaries and is subject to statutory audit by the Comptroller and Auditor General.
HRI also operate an internal audit function through an externally appointed firm of auditors, reporting to an independent Audit and Risk Committee with responsibility for risk mitigation, the approval of audit strategy and reviewing audit reports.
Audited Group Financial Statements are published in the Annual Report. To view our Annual Reports please visit HRI Publications | Horse Racing Ireland | hri.ie.
The Audit and Risk Committee Charter is reviewed annually.
The finance function also ensures that HRI adheres to all its corporate, indirect and employee tax related obligations.
The Procurement function in HRI is responsible for ensuring that HRI and its subsidiaries adhere to the public procurement requirements of semi state bodies. This team ensure that HRI and its subsidiaries deal with suppliers and potential suppliers in a fair and equitable manner while delivering significant value for money for the organisation.
Under the processes set out in the 'Code', all Capital development plans are reviewed and financially appraised by the Financial Planning and Reporting function, ensuring that both internal capital expenditure and industry capital grants are controlled in line with public expenditure guidelines.
Foal Levy Administration
HRI administers the statutory foal levy, which is managed via the Finance Department. The Foal Levy Committee advises and makes recommendations to the Board of Horse Racing Ireland, following consultation with breeders, in relation to a programme of re-investment of the funds raised by the Levy. Further Information can be found HERE
Under EU Directives regarding energy efficiency, and the ambitions set out in the Programme for Government and the Climate Action Plan (2021), HRI are committed to the public sector's 2030 energy and carbon targets.
Meeting the two key obligations for public bodies regarding the Monitoring and Reporting (M&R) Process, HRI will:
- Report energy management and performance data directly to the SEAI on an annual basis using procedures and calculation methodologies specified by the SEAI, in order to track progress towards targets.
- Publish a statement in the Annual Report, detailing the steps being taken, or that have been taken, to improve energy efficiency and an assessment of the energy savings arising from those actions.
We have appointed a Data Protection Officer to oversee compliance in this area and comply with all GDPR guidelines.
You have the right to make a complaint at any time to a supervisory authority. The Irish Data Protection Commissioner is the lead data protection supervisory authority for HRI as an Irish data controller.
Whistleblowing and Protected Disclosures
HRI is committed to maintaining an open culture with the highest standards of honesty and accountability where our employees can report any concerns in confidence.
Protected Disclosures Act, 2014 - Pursuant to section 22 of the Protected Disclosures Act 2014, Horse Racing Ireland confirm that no protected disclosures have been made to the organisation for the year 2022.