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CPA Practice Plus

 

Welcome to the July edition of Practice Plus. Queries to the CPA Ireland technical enquiry service this month tell us that members and their clients are busily engaged in the process of assessing the new accounting frameworks, FRS 105 and S.1A of FRS 102. To assist with this process we bring you some guidance on making the transition and some sample financial statements. We also bring you annual reports for 2016 from IAASA and ODCE.

 

 


  • Publication of IAASA Annual Report 2016

    Jul 14, 2017
    IAASA has published its 2016 Annual Report. The Report, which was laid before the House of the Oireachtas, details the work the Authority carried out throughout the year under review, The Chief Executive and Chairman’s Statements respectively give further information on this work together with their perspectives on the key issues which lie ahead.
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  • Publication of ODCE Annual Report 2016

    Jul 14, 2017
    The ODCE has published its annual report in respect of 2016. Please click here for details.
    Full story
  • ICCL Levy Discount available for CPA Investment Business

    Jul 14, 2017
    If you are a CPA Ireland ICCL Participant firm you can sign up to Direct Debit to avail of up to 5%***off your ICCL levy for the next two years (capped at €25.00 per annum).
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  • Impact of the Companies (Accounting) Act 2017 on Audit Exemption

    Jul 14, 2017
    The CPA Audit Exemption Guidance document has been updated to reflect the Companies (Accounting) Act 2017. Click here for details.
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  • Section 1A of FRS 102

    Jul 14, 2017
    Another option for companies to now consider post the commencement of the Companies (Accounting) Act 2017 is Section 1A of FRS 102.
    Full story
  • Exploring Micro Companies

    Jul 14, 2017
    The Companies (Accounting) Act 2017 introduced a new “micro” category of company which may be applied to financial years beginning 1st January 2015.
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  • Companies (Accounting) Act 2017

    Jul 14, 2017
    The Companies (Accounting) Act 2017 has been passed by the Oireachtas and commenced on 9th June 2017 (with the exception of section 80).
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  • Accountancy Europe

    Jun 14, 2017
    Accountancy Europe, have just published a paper on standard setting in the 21st century. The paper takes a thorough look at how standard setting for financial reporting and auditing is organised now, and what could be improved to keep this process relevant for the needs of the 21st century.
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  • Beneficial Ownership

    Jun 14, 2017
    CRO have provided an update regarding the launch of the Central Register of Beneficial Ownership. This register is required to be established under the 4th AML directive. The update notes that the original transposition date for the 4th AML directive is no longer achievable and more information will be provided in due course in September.
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  • CRO and mandatory E Filing

    Jun 14, 2017
    CRO have advised that E-Filing is mandatory from 1 June 2017, for certain documents such as the B1 Annual Return.
    Full story
  • Digital Certificates of Change of Company Name and Re-Registration of Company Type

    Jun 14, 2017
    For certificates of change of a company name and re-registration of company type, members should be aware now that CRO have advised that these documents will be issued as “digitally certified” documents. This commenced Thursday 8 June 2017. These Digital Certificates will replace the paper Certificates currently in use which are posted out to presenters.
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  • Property Services Regulatory Authority – Revised Accountant’s Reports for 2017 renewals

    Jun 14, 2017
    As indicated in the May edition of Practice Plus, the Property Services Regulatory Authority (PSRA) has issued revised accountant’s reports for licence renewal applications (PSRA/S35 – Renewal ABC where client accounts are held and PSRA/S35 - Renewal D where service charges and/or sinking fund contributions are paid into a "relevant account”) in accordance with the Property Services (Regulation) Act 2011 (Client Moneys) Regulations 2012 (“the Regulations”). These reports replace the 2014 versions and should be used in making 2017 applications for renewals. The revised reports contain new appendices and some additional details elsewhere in the reports (these changes are highlighted in red on the revised reports).
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  • Submission made regarding loss of audit exemption proposals

    Jun 14, 2017
    On Thursday 25th May, 2017 the Institute of Certified Public Accountants in Ireland, in conjunction with the other accountancy bodies within CCAB-I continued the fight against proposed changes to amend an important section of company law.
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  • Companies (Accounting) Act 2017 - Free Webinar

    Jun 14, 2017
    The Companies (Accounting) Act 2017 (‘CA 2017’) which transposes the EU Accounting Directive has been signed by the President and the commencement order (S.I. 246 of 2017) was signed on Friday 2nd June. It was made available on DJEI website on Tuesday 6th June. The appointed day on when the legislation came into operation was June 9th 2017.
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  • CRO notice a change of address

    May 18, 2017
    A move for CRO, members should be aware that the CRO Public Office and the Registry of Friendly Societies are changing address. The CRO/RFS will move from Parnell Square to Bloom House, Gloucester Place Lower, Dublin 1 on Friday 19th May.
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  • Employment Opportunities in IAASA

    May 18, 2017
    IAASA has a number of employment opportunites available in the area of audit. For further details please click here.
    Full story
  • Survey for Tax Professionals

    May 18, 2017
    The Kemmy Business School at the University of Limerick, funded by the European Commission’s H2020 programme, is looking at the work of tax professionals. They have developed a survey which seeks to determine the influences on the day to day work of a tax professional, the impact of local and organizational culture, and the personal attributes most valued in their own work.
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  • goAML System

    May 18, 2017
    On 29th May 2017 the Irish Financial Intelligence Unit (FIU) of the Garda Siochana, will launch a new software system called goAML.
    Full story
  • Property Services Regulatory Authority – Revised Accountant’s Reports for 2017 renewals

    May 18, 2017
    The Property Services Regulatory Authority (PSRA) has issued revised accountant’s reports for licence renewal applications (PSRA/S35 – Renewal ABC where client accounts are held and PSRA/S35 - Renewal D where service charges and/or sinking fund contributions are paid into a "relevant account”) in accordance with the Property Services (Regulation) Act 2011 (Client Moneys) Regulations 2012 (“the Regulations”).
    Full story
  • Irish Auditing Framework - which ISA's to use?

    May 18, 2017
    S.I. No. 312 of 2016 came into operation on the 17 June 2016. One of the impacts of the legislation is that IAASA is now responsible for the adoption of the auditing framework in Ireland.
    Full story

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