How Long to Read Governance Issues in the Department of Enterprise, Trade and Investment's Former Local Enterprise Development Unit in Relation to the Establishment and Oversight of the Emerging Business Trust Loan and Venture Funds

How Long Does it Take to Read Governance Issues in the Department of Enterprise, Trade and Investment's Former Local Enterprise Development Unit in Relation to the Establishment and Oversight of the Emerging Business Trust Loan and Venture Funds?

It takes the average reader 1 hour and 5 minutes to read Governance Issues in the Department of Enterprise, Trade and Investment's Former Local Enterprise Development Unit in Relation to the Establishment and Oversight of the Emerging Business Trust Loan and Venture Funds by Northern Ireland: Northern Ireland Audit Office

Assuming a reading speed of 250 words per minute. Learn more

Description

This report examines major weaknesses in the part played by the former Local Enterprise Development Unit (LEDU) in the establishment and oversight of the Emerging Business Trust (EBT). The ETB was created in 1996 with funds of £3 million provided by the International Fund for Ireland and £0.75 million by LEDU, mainly administering a loan fund. In 2000 EBT also established a venture fund, with a total funding of £0.6 million. EBT voluntarily ceased to carry on business in April 2005, and a liquidator was appointed to wind up the affairs of both the loan and venture funds. Invest Northern Ireland (a development agency which assumed the responsibilities of LEDU in 2002) carried out an investigation, which identified a long list of failings: conflicts of interest, especially involving a LEDU board member who was also a partner in MTF Chartered Accountants who were the managing agents of both funds; LEDU's failure to follow its own procedures; normal public sector rules on competitive tendering were not followed; a high level of bad debt (£1.1 million was written off); insufficient monitoring by LEDU. NIAO finds that many of these failings show non-observance of the Public Accounts Committee's recommendations in its report "The proper conduct of public business" (HC 154, 8th report session 1993-94). The poor standards of administration fell far below the normal standards operating elsewhere in the Northern Ireland public sector. Invest Northern Ireland and the Department have undertaken a number of actions and current corporate governance arrangements are very different. NIAO believes there are lessons of relevance here to the wider public sector.

How long is Governance Issues in the Department of Enterprise, Trade and Investment's Former Local Enterprise Development Unit in Relation to the Establishment and Oversight of the Emerging Business Trust Loan and Venture Funds?

Governance Issues in the Department of Enterprise, Trade and Investment's Former Local Enterprise Development Unit in Relation to the Establishment and Oversight of the Emerging Business Trust Loan and Venture Funds by Northern Ireland: Northern Ireland Audit Office is 64 pages long, and a total of 16,256 words.

This makes it 22% the length of the average book. It also has 20% more words than the average book.

How Long Does it Take to Read Governance Issues in the Department of Enterprise, Trade and Investment's Former Local Enterprise Development Unit in Relation to the Establishment and Oversight of the Emerging Business Trust Loan and Venture Funds Aloud?

The average oral reading speed is 183 words per minute. This means it takes 1 hour and 28 minutes to read Governance Issues in the Department of Enterprise, Trade and Investment's Former Local Enterprise Development Unit in Relation to the Establishment and Oversight of the Emerging Business Trust Loan and Venture Funds aloud.

What Reading Level is Governance Issues in the Department of Enterprise, Trade and Investment's Former Local Enterprise Development Unit in Relation to the Establishment and Oversight of the Emerging Business Trust Loan and Venture Funds?

Governance Issues in the Department of Enterprise, Trade and Investment's Former Local Enterprise Development Unit in Relation to the Establishment and Oversight of the Emerging Business Trust Loan and Venture Funds is suitable for students ages 8 and up.

Note that there may be other factors that effect this rating besides length that are not factored in on this page. This may include things like complex language or sensitive topics not suitable for students of certain ages.

When deciding what to show young students always use your best judgement and consult a professional.

Where Can I Buy Governance Issues in the Department of Enterprise, Trade and Investment's Former Local Enterprise Development Unit in Relation to the Establishment and Oversight of the Emerging Business Trust Loan and Venture Funds?

Governance Issues in the Department of Enterprise, Trade and Investment's Former Local Enterprise Development Unit in Relation to the Establishment and Oversight of the Emerging Business Trust Loan and Venture Funds by Northern Ireland: Northern Ireland Audit Office is sold by several retailers and bookshops. However, Read Time works with Amazon to provide an easier way to purchase books.

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