Welcome to the January edition of Practice Plus. We wish all our readers a very happy new year. We look forward to working with you during 2023.
We remind audit firms, that from 15th December 2022, IAASA’s quality management standards became effective. CPA Ireland’s QM Resource has lots of information to help audit firms transition to the new standard.
We also bring you details of some recent IAASA publications and information on topics such as related parties and ISA 315.
Renewing practising certificates 2023
Renewal notices have issued to all CPA practising certificate holders. Guidance and information is available here
, including a short webinar to guide you through the process.
IAASA’s inspection insight series 2 – related parties
IAASA has published its key messages for auditors in the area of related parties, available here
ISQM – making the transition
CPA Ireland’s Quality Management Resource
acts as a central point bringing together articles, guidance, IAASA Explainer Videos and IAASB Implementation Guides in a single location, to assist firms with their transition.
Access to RBO search facility
Following the recent ruling of the Court of Justice of the European Union, the RBO has restricted access to search the register to designated persons and Competent Authorities only.
CPA Ireland’s ISQM Thematic Review 2023
To assess the compliance of CPA firms, a thematic review will be undertaken in Quarter 1 of 2023 by the CPA Ireland’s Quality Assurance (QA) team.
IAASA presentation on revisions to ISA 315
IAASA have issued a video presentation providing information on the revised ISA (Ireland) 315 Identifying and Assessing the Risks of Material Misstatement.
Robotic process automation – IAASB technology market scan
In its latest market scan the IAASB explore Robotic Process Automation, a technology used for executing repetitive tasks that has applications across the audit process, from data transformation to workpaper creation, as well as potential for forming part of an audited entity’s IT environment.
Join CPA Ireland’s Quality Assurance Team
An opportunity has arisen to join CPA Ireland’s Professional Standards Team as a Quality Assurance Executive. For further information please click here
Temporary Business Energy Support Scheme – updated guidance
TBESS is designed to assist businesses with electricity or natural gas (energy) costs during the winter months.
CEA Information Note - Early Warning Tools and Restructuring Frameworks
The Corporate Enforcement Agency has published an Information Note on the topic of Early Warning Tools and Restructuring Frameworks.
FRC webinar 19 January – proposal for the periodic review of FRS 102
The FRC recently issued FRED 82 Draft amendments to FRS 102 The Financial reporting Standard applicable in the UK and Republic of Ireland and other FRSs – Periodic Review.
Regulatory update with the CEA, Professional issues and other CPD events
The CEO, of the Corporate Enforcement Agency, Ian Drennan, will deliver a free regulatory update for CPA members on the 25th
2023 CPD Events
Regulatory Update with the Corporate Enforcement Authority. The Corporate Enforcement Authority is the competent authority in Ireland for the general promotion of compliance with the Companies Acts, the investigation of breaches of the Companies Acts and the taking of any necessary enforcement actions to ensure continued compliance.
ITI Finance Act 2022 Seminar - 2 February
Be prepared for upcoming changes in Finance Bill & Act 2022. Join a panel of expert speakers who will take you through the changes and what they mean for you, your clients and employers.