Welcome to the September edition of CPA Ireland’s Practice Plus. This month we highlight CCAB-I engagement with Revenue regarding the implementation of the proposed Enhanced Reporting Requirements from 1 January 2024 and remind businesses of the approaching TBESS claim deadline.
World Cleanup day – join the CPA community
We also ask members for feedback on the recently introduced use of PPS numbers for certain CRO filings.
New opportunities for our profession
The demand for the services of our profession has never been stronger. In Ireland and across the world, the marketplaces in which we operate are ever changing, bringing opportunities and challenges in the short and longer term.
CCAB-I highlights concern over ERR
CCAB-I have highlighted significant concerns about Revenue’s proposed introduction of Enhanced Reporting Requirements (EER) for all employers from 1 January 2024.
Guidance and request for feedback on PPS Numbers
From June 11th 2023, when filing Forms A1, B1, B10 and B69, company directors are required to provide their PPS numbers. The PPS number is used for identity verification to ensure that the company director is alive and is a natural person.
Deadline approaching for TBESS claims
Revenue has reminded businesses that the deadline to submit claims for TBESS is 30 September 2023.
Hot and Cold File Reviews
As a consequence of an unsatisfactory quality assurance review, a firm may be required to engage in either the cold or hot file review process with a view to improving standards in the firm.
Business Users Support Scheme for Kerosene announced
The Department of Enterprise, Trade and Employment has launched a new energy support scheme for businesses that were impacted by significant increases in the cost of Kerosene during 2022.
Revisit of Continuity of Practice Agreements
Practitioners are reminded of the requirement to have in place a valid continuity of practice agreement. A sole practitioner or a member who is the only practising certificate holder or statutory auditor in a firm must have a continuity of practice agreement in place.
Update to Solicitors Accounts Regulations Guidance
Following updates to the Solicitors Accounts Regulations which became effective from 1st July 2023, CCAB-I has issued updated guidance for Reporting Accountants which can be found here.
Europol report shines light on euro underground criminal economy
The European Financial and Economic Crime Threat Assessment looks closely at current and emerging threats relating to financial and economic crime.
Audit Firm Notification Requirements – check the register!
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. S.1488 of the Act requires that the notification be signed.
CPD for September
The CPD schedule for September includes an exploration of the ethical standards for auditors and guidance on the audit of regulated and other entities. The Success Skills Series will also start again with a wide range of topics to be covered.
Help us take part as a CPA community on September 16th
World Clean Up Day unites millions of volunteers, governments and organisations in 191 countries to tackle the global waste problem and build up the new and sustainable world.