The Charities Regulator has appointed inspectors to carry out an investigation into the Peter McVerry Trust.
The investigation follows concerns arising from correspondence sent by the charity to the Charities Regulator in July 2023 and engagement with the charity since then in relation to governance and finance-related matters.
The regulator said it would continue to liaise closely with the Approved Housing Bodies Regulatory Authority (AHBRA), which recently announced an investigation into the affairs of the charity related to its activities as an approved housing body.
It said that the regulators have a memorandum of understanding in place which allows them to cooperate and share information for the purpose of performing their respective functions.
"While Peter McVerry Trust has engaged with the Charities Regulator on the concerns raised regarding its governance and finances, the Charities Regulator has determined, based on its inquiries, that a statutory investigation into the charity is warranted," Charities Regulator Chief Executive Helen Martin said.
"In order to ensure that there is no unnecessary duplication of activities, we intend to work closely with the Approved Housing Body Regulatory Authority so that our activities are co-ordinated in so far as is consistent with our respective statutory functions."
The Charities Regulator has also pointed out that the opening of a statutory investigation is not in itself a finding of any wrongdoing.
Last month, the State's regulator for housing bodies AHBRA appointed inspectors to carry out a statutory investigation into the Peter McVerry Trust.
Yesterday, the trust confirmed that the CEO Francis Doherty tendered his resignation to the board of directors. He was in the role for four months.
In his resignation letter to the board, he said that despite the progress he made and the immediate financial challenges he overcame as CEO, he was left in an untenable position by the Trustees.
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