Welcome to the June edition of Practice Plus. As the summer season begins, we bring you an important update on the sanctions regime with implications for the provision of audit and accounting services to Russia. In tax news this month we bring details of a call from CCAB-I for the simplification of the R&D credit. We also remind CPA firms of the opportunity to use the CPA logo and branding on their website, stationery and marketing materials.
AML Red Flag Training Material
CPA Ireland as part of a joint practice group with GNECB and the Garda Financial Intelligence Unit, ACCA, CAI, AIA, and CIMA is pleased to have been involved in producing training material to assist professional accountants and their staff.
6th Package of Sanctions includes ban on accounting and auditing services
In light of Russia’s continuing war of aggression against Ukraine and Belarus' support to it, as well as the reported atrocities committed by Russian armed forces in Ukraine, the EU Council have decided to impose a sixth package of economic and individual sanctions targeting both Russia and Belarus.
CPA Ireland signs MRA with the American Institute of CPAs
The National Association of State Boards of Accountancy (NASBA)/American Institute of CPAs (AICPA) U.S. International Qualifications Appraisal Board (IQAB) and CPA Ireland, have signed a mutual recognition agreement (MRA) that goes into effect on June 1, 2022.
Statement of Insolvency Practice – S13B has recently been revised and includes an update on Pre-appointment work by an insolvency practitioner.
Wage Subsidy Scheme ends after 2 years
The Minister for Finance, Paschal Donohoe has noted that the Employment Wage Subsidy Scheme
(EWSS) has now ceased for all businesses.
Call for R&D Tax Credit to be simplified
In its response to the Public Consultation on the R&D Tax Credit and Knowledge Development Box, CCAB-I noted the complexity experienced by SMEs in particular in claiming both reliefs.
IAASA launches 2nd instalment in series 'What IAASA does'
As part of their information series on ‘What IAASA does’, they have released their second instalment focusing on the Financial Reporting Supervision (‘FRS’) function.
UK audit regime overhaul to help restore trust in big business
The UK Government announced the revamp of its corporate reporting and audit regime through a new regulator, greater accountability for big business and by addressing the dominance of the main audit firms.
10% Early Bird Discount on our updated Certified Tax Adviser 2022-23
2022 marks the 12th year of CPA Ireland's Certified Tax Adviser (CTax)
course! We have undertaken a full review of the programme over the past year, and are excited to launch the new & updated programme commencing in 2022. We are delighted to offer a 10% Early Bird Discount off the cost of the course - enrol before 30th June 2022 to avail of this discount.
Promoting your Practice
CPA Ireland’s branding is available to CPA firms to use on their website, stationery and marketing material.