The Chair of the RTÉ Board, Siún Ní Raghallaigh, has apologised for a “significant lapse in oversight” over the national broadcaster’s management of Toy Show: The Musical.

A recent Grant Thornton report revealed that the planned showings for the musical wouldn’t have been enough to break even, whilst sponsorship figures were overstated. It has also been found that the project didn’t seek nor receive the necessary approval from the RTÉ Board.

Chair of the RTÉ Board Siún Ní Raghallaigh has expressed confidence in members of the current RTÉ Board who sat on the board when corporate governance failings occurred in relation to Toy Show The Musical | https://t.co/LpbWcmC6eM pic.twitter.com/NI9EEHlV0r

— RTÉ News (@rtenews) January 25, 2024

“The Report clearly illustrates that the Board was not kept appropriately informed about the project as it was being developed,” said the statement released by Ní Raghallaigh earlier today.

“It confirms a significant lapse in oversight of the project. External expert advice was ignored. Information was also withheld from the Board. Significant contracts were committed to without the knowledge or approval of the full Board.

“The commercial risks associated with an undertaking of this nature were grossly underestimated. The Report also highlights a failure in generally accepted accounting practices, in that sponsorship was not correctly presented to the Board and all costs were not properly captured and linked to the project.”

Elsewhere in her statement, the Chair outlined changes in the RTÉ Board’s strategy when managing future projects - including tighter scrutiny over minutes at meetings, a revamped approval process, and mandatory risk assessments.

“The Board is focused on driving the change necessary to fully restore confidence in the organisation, and to working with Government to establish a sustainable funding model that will ensure that RTÉ can continue to deliver on its important public service media remit,” she concluded.