An audit has recommended winding up a State-funded body which works with disadvantaged communities in Waterford. The Crowe Horwath report has said that Waterford Area Partnership (WAP) is “at risk of collapse” and is “not viable” due to mounting issues at the organisation. The company is the subject of “major investigations” according to the audit, which was commissioned by the Department of Rural and Community Development, including one by gardaí into its financial transactions. The Charities Regulator and Revenue are also investigating the Partnership, which delivers programmes aimed at alleviating deprivation in Waterford city. It has an annual budget of €3m.