PSRA raised concerns over client bank accounts at 3 marts
The Property Services Regulatory Authority (PSRA) flagged concerns in relation to deficits in client bank accounts at three livestock marts in 2025.
The PSRA is the statutory body with responsibility for licensing and regulating the property services sector (auctioneers, estate agents, letting agents and property management agents) in Ireland.
In its 2025 annual report, the authority said it carried out "thematic compliance audits" on all licensed marts last year.
These were run in conjunction with scheduled compliance audits on marts, "in order to get a snapshot in time of the financial position of each mart".
Audits
The thematic compliance audits focussed on each mart’s client bank account and requiring them to complete and submit following data to the authority:
- Reconciliation of the client bank account(s) as of December 31, 2024;
- Debtors list as of December 31, 2024;
- List of uncashed cheques as of December 31, 2024.
Each submission was examined to establish if the statutory financial procedures in place.
"Concerns were raised in respect of 3 marts where deficits were identified on their client bank accounts at December 31, 2024.
"The authority engaged with each of these marts and successfully assisted them in addressing and eliminating the deficit on their client bank accounts," the report said.
Marts
The PRSA said that it had "particularly strong and positive engagement" with livestock marts throughout 2025.
The authority ran a series of information seminars and meetings with mart committees, mart managers, administrative staff and financial staff/accountants throughout 2025.
152 mart personnel representing 64 marts across the country attended a seminar in Athlone in May 2025.
Last October, the authority also held four seminars focused on the client moneys regulations for mart personnel, particularly administrative staff and accounting staff.
Forum
In December 2024, the PRSA established a Mart Forum to allow all stakeholders in the sector to meet with the authority to discuss challenges and issues.
The forum includes representatives from the Department of Agriculture, Food and the Marine (DAFM), Irish Farmers' Association (IFA), Irish Creamery Milk Suppliers' Association (ICMSA), Irish Mart Managers of Ireland, Associated Livestock Marts and the Irish Cooperative Organisation Society (ICOS).
Four meetings of the forum took place during 2025, with further meeting planned for this year.
