Practice Plus September 2020

PLEASE NOTE

THIS IS AN OLD EDITION OF PRACTICE PLUS. ARTICLES MAY NOT BE CURRENT OR UP TO DATE.

 


Welcome to the September edition of Practice Plus. This month we bring you news on the COVID-19 Credit Guarantee Scheme, an update on social welfare payments and the Employment Wage Subsidy Scheme and a reminder to complete the Digital Competency Maturity Model (DCMM™) survey.


Final Opportunity to Assess your Firm’s Digital Competency

Access to the Digital Competency Maturity Model (DCMM™) survey will close shortly. Never before has the digitalisation of accounting firms been more important.
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Anti-Money Laundering Bill Published

The Criminal Justice (Money Laundering and terrorist Financing) (Amendment) Bill 2020 has been published and has completed its first stage in the Dáil.
Read more.


Central Bank Publishes Credit Union PRISM Supervisory Commentary Report

The Central Bank has published the fourth edition of the Credit Union PRISM Supervisory Commentary Report. The purpose of this Report is to inform all credit unions on the nature and type of risks identified during Central Bank 2019 supervisory engagements, and related supervisory expectations in addressing such issues.
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CRO Update

The new CRO CORE system was due to go live this month, but the CRO recently announced that the launch is postponed until December 2020.  The postponement is until after the key peak periods have passed.
Read more.


ODCE Publishes List of Offences

A list of offences under the Companies Act 2014 is now available on the ODCE website. In addition, lists of particular offences which may be of interest to certain categories of persons are also now available on the website.
Read more.


Accountancy Europe - COVID-19 Sustainable Recovery Blog Series

Accountancy Europe have recently published their second blog in their COVID -19 sustainable recovery series.
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Managing Third Party Assurance Requests

In times of uncertainty accountants and auditors often receive an increase in requests to sign, certify, confirm or opine on a range of issues. Members are advised to carefully consider requests received from clients and third parties that require them to opine on matters that are outside of the scope of the usual statutory audit report or compilation reports (prepared in accordance with M14).
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Revenue Urges Business to get Brexit Ready

Revenue have begun writing to businesses emphasising the importance of being Brexit ready.  The letters set out the critical Brexit preparation steps businesses need to take.
Read more.


COVID-19 Credit Guarantee Scheme Open

The government has opened the new €2 billion COVID-19 Credit Guarantee Scheme to provide Irish businesses, including those in the farming and fishing sectors, with access to low cost loans as they respond to the impacts of COVID-19.
Read more.


Social Welfare Payments and the Employment Wage Subsidy Scheme

The Department of Employment Affairs and Social Protection has set out its position regarding certain social welfare payments and the Employment Wage Subsidy Scheme (EWSS) operated by the Revenue Commissioners. The Employment Wage Subsidy Scheme replaced the Temporary Wage Subsidy Scheme from 1 September 2020.
Read more.


Applying for a Practising Certificate

Establishing a practice can provide a rewarding career, allowing you to run your own business whilst providing vital support services to Irish business.
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CPA Ireland Diploma in Data Analytics

The course will teach you the tools to help you use analytics to formulate and support you in solving business problems and communicating that analysis to a management team.
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Certified Tax Adviser (CTax) - A Unique Qualification

Now in its 10th year, the Certified Tax Adviser (CTax) course offers a unique and exciting higher level qualification in Tax for accounting and legal professionals.
Read more.