Welcome to the first edition of CPA Ireland’s Audit Bulletin. This is an essential update for CPA approved statutory audit firms and statutory auditors. We bring you important regulatory information and highlight supporting guidance, articles, and resources. We also flag some essential upcoming CPD which includes an exploration of two recently revised auditing standards, new Solicitors Accounts Regulations and a review of key aspects of legislation as it applies to the statutory auditor.
CPD Requirements for statutory auditors
Statutory auditors are advised to review carefully recent changes to CPD requirements. From 2023 new requirements apply to the focus on core hours.
Audit Firm Notification Requirements
Audit firms are reminded that S.1487 of the Companies Act 2014 requires that an auditor or an audit firm notify their Recognised Accountancy Body of any change in the information contained in the public register relating to them.
International Standard on Quality Management 1 - Thematic Review
In early 2023 a sample of CPA audit firms were selected to provide the Quality Assurance team with further information regarding their implementation of ISQM1.
CPA Ireland issue digital certificates
CPA Ireland is issuing digital certificates to its practising certificate holders and audit firms. The certificates can be added to your LinkedIn profile, shared via email or social media, or downloaded and embedded to your email signature or professional website.
Preparing for a Quality Assurance Review
The Quality Assurance process ensures that all member firms of CPA Ireland maintain an appropriate level of professional standards in the performance of their duties and in the provision of services to clients and is conducted in accordance with Bye Law 7, Quality Assurance and the Companies Act 2014.
Are you a member of a network of firms?
The Companies Act 2014 requires certain information to be published on the public register of auditors relating to an audit firm’s membership of a network.
Audit Firm Control
CPA Ireland's Registration Committee issued guidance on control requirements for stautory audit firms.
IAASA publish new edition of Standards Newsletter
IAASA have published a June 2023 edition of their Standards Newsletter.
Join CPA Ireland’s Quality Assurance Team
An opportunity has arisen to join CPA Ireland’s Professional Standards Team as a Quality Assurance Executive.