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
Our Committees
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.Â
The Audit and Risk Committee
Charter is reviewed annually.
Tax Obligations
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The finance function also ensures that HRI adheres to all its corporate, indirect and
employee tax related obligations.
Public Expenditure
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.