The FAI have commissioned an auditing group to conduct "an independent and in-depth external review of all matters" within the association and said they are working closely with Sport Ireland to clear up questions about governance and finances.
Yesterday, Minister for Sport Shane Ross told the Dáil that recent media reports of a €100,000 bridging loan provided to the FAI by its then CEO John Delaney have raised "serious questions" about governance and financial controls in the organisation, in response to Fine Gael TD Noel Rock, who called for a "truly independent examination into both management and finances which further State funding will be contingent on".
Last week Delaney stepped down from his role as FAI CEO and assumed the position of Executive Vice President
The FAI will appear at an Oireachtas Committee on 10 April, and today they released a statement clarifying their next steps.
It read: "The Board of the Football Association of Ireland acknowledges the concerns expressed by members of the football family, supporters, commentators, politicians and the public around recent media stories concerning the Association.
"The Board is committed to fully addressing the issues of concern and is undertaking steps to do so.
"The Board of the FAI has established a sub-committee, from amongst its members, which is working closely with the Association's external advisers and auditors to urgently address these matters.
"Global auditing and consulting group Mazars has been commissioned by the sub-committee to conduct an independent and in-depth external review of all matters. The Board has requested that this review be completed as soon as possible.
"The FAI is engaging fully with Sport Ireland and the Office of the Director of Corporate Enforcement in dealing with their particular inquiries.
"The Association will be appearing before the Oireachtas Joint Committee on Transport, Tourism and Sport and recognises and shares the desire for the matters to be addressed as soon as possible, with due regard to the different ongoing processes."