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CPA Practice Plus

 

Welcome to the September edition of  Practice Plus

The busy autumn period is upon us and we hope you enjoyed a break during this summer. This month we bring you information regarding the ever popular Practitioner’s Conferences now renamed to the Practice Matters Conference to be held in two locations this year, Dublin and Cork, a note on Directors’ Compliance Statements and details of an upcoming Credit Union Update event run in association with Chartered Accountants Ireland. 

 


  • Practice Matters 2016 – Companies Bill, FRS 102, practice management, topical tax and much more ........

    Sep 14, 2016
    This coming Friday and Saturday 16th & 17th September sees the flagship conference for members in Practice with a range of essential topics explored for the busy practitioner, reviewing in particular the potential impact of the Companies (Accounting) Bill 2016, transition to FRS 102, topical tax matters, practice management and the Charity sector.
    Full story
  • Credit Union Update Event

    Sep 14, 2016
    The regulatory environment in which Credit Unions operate continues to evolve, and in particular 2016 sees the mandatory application of FRS 102 by Credit Unions for the first time.
    Full story
  • Directors’ Compliance Statement

    Sep 14, 2016
    The Companies Act 2014 commenced on the 1st June 2015. Whilst most of the Act became effective immediately one section that did not immediately commence was S. 225 – Directors’ Compliance Statements, which became effective for financial periods commencing 1st June 2015.
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  • Practice and Audit Orientation Online Certificates Launch

    Sep 14, 2016
    We are pleased to launch the CPA Ireland Skillnets Practice and Audit Orientation Online certificates which brings with it the flexibility to complete the courses at a time and a location that suits you.
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  • Companies Bill - Proposals for small companies and micro entities

    Sep 14, 2016
    The Companies (Accounting) Bill 2016 was published on the 5th August 2016. The Bill proposes to introduce a small companies regime and a micro companies regime which, when enacted, will allow for the use in Ireland of Section 1A of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland by small companies and FRS 105 The Financial Reporting Standard applicable to the Micro-entities Regime by micro companies. Small and micro companies are as defined, see section 15 of the Bill. The thresholds for small companies are proposed to be raised to the EU maximum levels of: turnover not exceeding €12 million and balance sheet total not exceeding €6 million.
    Full story
  • Deadline for companies wishing to be converted to a DAC or a LTD

    Sep 14, 2016
    As we have flagged in previous editions of Practice Plus throughout this summer, members should note that the CRO have advised that under the 2014 Companies Act, all existing private companies limited by shares have the option of converting to one of the new company types (LTD or DAC) during a transition period which ends on 30 NOVEMBER 2016.
    Full story
  • Digital Certificates

    Sep 14, 2016
    CRO have advised that they will commence issuing all Certificates of Incorporation of Company Names as digitally certified documents in September 2016. This is the 3rd phase of the roll out of the Digital Certification strategy which was launched on 13 April 2016 with the issue of all Mortgage Certificates as digitally certified documents. Digital Certification of Business names went live on 2 August 2016.
    Full story
  • SIP 14B consultation period extended

    Sep 14, 2016
    An exposure draft of Statement of Insolvency Practice (SIP) 14B A Receiver's responsibility to preferential creditors – ROI was issued for consultation by the CCAB-I Insolvency Committee in April 2016.
    Full story
  • Companies Bill - proposals for small companies and micro entities

    Aug 15, 2016
    In important news for members to be aware of, The Companies (Accounting) Bill 2016 has been published by the Department of Jobs, Enterprise and Innovation. It is expected that when enacted it will transpose the requirements of the EU Accounting Directive. This will be welcome news for members with clients that will be able to avail of the provisions of the bill.
    Full story
  • Practice Matters 2016

    Aug 15, 2016
    Next month sees the flagship conference for members in Practice, The Practice Matters Conference for 2016 being run in Dublin and Cork.
    Full story
  • Deadline for companies wishing to be converted to a DAC or an LTD

    Aug 15, 2016
    As we have flagged in previous editions of Practice Plus this summer, members should note that CRO are advising of the deadlines for conversion to a new company type such as a DAC or an LTD. Such private limited by shares companies that have not applied to the CRO to be converted to either a DAC or an LTD during the transition period will be automatically converted to an LTD by the legislation after 1 December 2016.
    Full story
  • IAASA adoption of Auditing Standards

    Aug 15, 2016
    On 15 June 2016, the Minister for Jobs, Enterprise and Innovation signed the European Union (Statutory Audits) (Directive 2006/43/EC, as amended by Directive 2014/56/EU, And Regulation (EU) No 537/2014) Regulations 2016 (S.I. No. 312 of 2016) (the ‘Regulations’) which came into operation on the 17 June 2016. One of the impacts of the Regulations is that IAASA is now responsible for the adoption of the auditing framework in Ireland.
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  • Revised Code of Ethics

    Aug 15, 2016
    The CPA Code of Ethics (June 2011) has been updated to reflect changes to the IESBA Handbook of the Code of Ethics for Professional Accountants 2015 edition in the areas of non-assurance services provided to both audit and assurance clients.
    Full story
  • Understanding the importance of statutory audits

    Aug 15, 2016
    In a conversation with the Sunday Business Post, CPA President Nano Brennan speaks about the benefits that a statutory audit can bring to a business.
    Full story
  • FRS 102 Let us know your views

    Aug 15, 2016
    The Financial Reporting Council (FRC) will shortly be carrying out its first triennial review of FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and we now have an opportunity to comment on any aspect of FRS102 and its implementation which needs to be considered in this review.
    Full story
  • CRO Digital Certificates

    Aug 15, 2016
    CRO will commence issuing all Certificates of Incorporation of company names as digitally certified documents in September.
    Full story
  • Audit of Charities

    Jul 15, 2016
    Members should be aware that if they are conducting any audits of charities, charitable or voluntary organisations, that these entities due to their nature may pose a high level of risk and potential for fraudulent behaviour.
    Full story
  • Transition period and the Companies Act 2014 conversion deadlines

    Jul 15, 2016
    A very important reminder for members to be aware of are the deadlines for company conversion in respect of the Companies Act 2014.
    Full story
  • The Audit Directive

    Jul 14, 2016
    An update since last month’s edition, was the enactment of the Audit Directive S.I. (Statutory Instrument) 312 2016; on June 17th.
    Full story
  • ODCE Report

    Jul 14, 2016
    The Office of the Director of Corporate Enforcement recently published their annual report for 2015.
    Full story

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