There was "a lapse of control, and a lack of rigorous interrogation" of the loss-making Toy Show The Musical by the RTÉ Board, according to RTÉ Board Chair Siún Ní Raghallaigh.
Minutes of an RTÉ Board meeting in July of this year, released following a Freedom of Information request to RTÉ's This Week programme, show that the board admitted that there "should have been more stress testing of the project by the Board".
The records also show that there was no formal approval process by the board for the musical, although the RTÉ Board members had been provided with a presentation on the project which included the figures involved.
Toy Show The Musical made losses of €2.2m.
The records show the board was aware of the project, and the figures involved, but "did not halt the project".
The chair told the board that "no risk assessment was done" on the project, which showed a weakness in board controls.
The minutes state that the board took the view that the musical was presented to them as a "fait accompli".
Deputy Director General Adrian Lynch told the board that the project "had the involvement and support of the previous chair".
Ms Ní Raghallaigh said the Executive, which ran the organisation, "should have provided a risk assessment".
RTÉ DG 'congratulated' after 'difficult' Tubridy decision
RTÉ Director General Kevin Bakhurst was congratulated at a board meeting after he announced that Ryan Tubridy would not be offered a new contract with the broadcaster.
Mr Bakhurst told the board that "any trust between the parties had broken down" after Mr Tubridy issued a statement in response to the second Grant Thornton report into the under-declaration of payments to Mr Tubridy by RTÉ.
The board minutes show the Director General "was of the view, in his view, the tone and content of the statement issued indicated that Ryan Tubridy was questioning the basis for the necessary restatement of fees and therefore any trust between the parties had broken down".
The records show that Mr Bakhurst had held a discussion the previous day with the Remuneration Committee of RTÉ in relation to Mr Tubridy's contract.
He said the main terms of a new contract were agreed.
However, he informed the board that subsequent to that meeting "Ryan Tubridy’s team had reverted with proposed changes to the contract and Ryan Tubridy had issued a statement" in response to the second Grant Thornton report into the payments controversy.
Following the statement, Mr Bakhurst decided it would not be possible to conclude a contract with Mr Tubridy.
A record of the meeting shows the Director General was "congratulated" by one board member for "taking the difficult decision".
Ms Ní Raghallaigh described it as "a very difficult decision" but one she "fully supported".
Several other board members said they agreed with the decision and noted that it was an important part of rebuilding trust.
There is no record of any board member voicing opposition to the decision not to offer Mr Tubridy a new contract.
