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CPA Practice Plus

 

Welcome to the May edition of  Practice Plus. This month we bring you the latest news regarding the Companies (Accounting) Bill 2016, a welcome amendment to FRS 102 following representation by many interested parties including CPA Ireland and revisions to the Accountant's Report for the PRSA. 

 


 


  • 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
  • Deadline for Annual Renewal of CPA Practising Certificates and Authorisations

    Mar 14, 2017
    CPA Practising and Auditing Certificates and Investment Business Authorisations expire annually on the 31st March.
    Full story
  • Companies (Accounting) Bill 2016

    Mar 14, 2017
    The Companies (Accounting) Bill 2016 is scheduled for Report Stage in the Dáil in the week commencing 20th March 2017. When the bill is commenced, it proposes to 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
  • Anti-Money Laundering

    Mar 14, 2017
    As flagged in previous editions of Practice Plus and in updates to members over the past year, the 4th EU Anti-Money Laundering Directive is due to be transposed into Irish legislation by 26th June 2017 and will impact on firms’ anti-money laundering policies and procedures.
    Full story
  • Beneficial Ownership

    Mar 14, 2017
    CRO has advised that work has commenced on putting in place a central register of beneficial ownership. S.I. 560 of 2016 transposes the first sub-paragraph of Article 30(1) of the Fourth Anti-Money Laundering Directive (4AMLD) and requires corporates and other legal entities to collate beneficial ownership data.
    Full story
  • Mandatory E-filing

    Mar 14, 2017
    CRO have advised that mandatory e-filing will commence from June 1 2017. Form B1 and financial statements are required to be filed electronically from June 1st 2017
    Full story
  • Credit Unions

    Mar 14, 2017
    Members who audit credit unions are reminded that such entities are high risk clients and members should endeavour to continuously update themselves on current requirements and procedures in this regard.
    Full story
  • IAASA

    Mar 14, 2017
    IAASA, Ireland’s accounting enforcer, published its financial reporting decision arising from its examination of Pelican Mortgages No. 1 plc’s unaudited consolidated interim financial statements for the six month period ended 30 June 2016 (‘the Report’).
    Full story

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