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CPA Practice Plus

 

Welcome to the June edition of  Practice Plus. This month we bring you news regarding the long awaited Companies (Accounting) Act 2017, an update on filing with CRO and the latest on beneficial ownership.  

 


 


  • 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.
    Full story
  • 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.
    Full story
  • 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.
    Full story
  • 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).
    Full story
  • 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.
    Full story
  • 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.
    Full story
  • 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.
    Full story
  • 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.
    Full story
  • 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
  • Amendment to FRS 102: Directors' Loan - optional interim relief for small entities

    May 18, 2017
    We welcome the announcement by FRC on the 8th May 2017 to provide interim relief for small entities from the accounting requirements of FRS 102 for the measurement of directors’ loans.
    Full story
  • Companies (Accounting) Bill 2016

    May 18, 2017
    The Companies (Accounting) Bill 2016 has passed both Houses of the Oireachtas and we expect it to be signed very shortly by the President. When the bill is commenced it will introduce a small companies regime and a micro companies regime which will fundamentally change the financial reporting requirements for small and micro entities.
    Full story
  • PSRA Regulated Clients – Guide to PSRA Audit Inspections

    Apr 19, 2017
    The PSRA Guide to Conducting Audit Inspections as provided for under the Property Services (Regulation) Act 2011 document is designed to outline the requirements placed on licensees by the Property Services (Regulation) Act 2011 (the Act) and the Regulations made under that Act and how compliance with the legislation is assessed.
    Full story
  • goAML System

    Apr 19, 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
  • Companies (Accounting) Bill 2016

    Apr 19, 2017
    The Companies (Accounting) Bill 2016 is currently going through the various stages within the Dail and the Seanad. It is expected to be enacted shortly and we continue to monitor the various stages of the bill. When we learn anything further, we will keep you updated via the usual channels.
    Full story
  • Future Irish Auditing Framework to be the FRC Auditing Framework

    Apr 19, 2017
    IAASA has published its feedback paper to its consultation on the future auditing framework for Ireland (‘Consultation Paper’).
    Full story
  • Deadline for Annual Renewal of CPA Practising Certificates and Authorisations

    Apr 19, 2017
    The date for the renewal of all CPA Practising and Auditing Certificates and Investment Business Authorisations has now passed. Members, affiliated partners and responsible individuals are reminded that an application for renewal must have been completed in full by 28th February in order to allow for the timely renewal of authorisations.
    Full story

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