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IAASA issues a revised version of ISA (Ireland) 505
March 25, 2024Following public consultation, IAASA has today (25 March) issued a revised version of ISA (Ireland) 505 – External Confirmations. The main changes to the standard relate to: The revised standard is effective for audits of financial statements for periods beginning on or after 15 December 2024, with early adoption permitted. The revised standard is available … Continued
See more...IAASA publishes reports on the quality assurance review of firms that audit public-interest entities
March 11, 2024Increase in percentage of inspected audit files needing improvement. Results are“disappointing.” Today, IAASA has published its 2023 quality assurance review reports in respect of sevenfirms that perform statutory audits of public-interest entities in Ireland.The reports summarise IAASA’s inspection of each firm’s implementation of the InternationalStandard on Quality Management (Ireland) 1 (ISQM 1) which was effective … Continued
See more...IAASA’s inspection insight series 4 – Engagement Quality Reviews
February 26, 2024IAASA’s Audit Quality Unit evaluated the quality of EQRs for each audit selected for inspection in 2023, available here. IAASA’s YouTube channel also includes a video on EQRS available here.
See more...IAASA has published a Consultation paper on its proposal to adopt a Sustainability Assurance Standard in Ireland.
February 26, 2024IAASA has published a Consultation paper on its proposal to adopt a Sustainability Assurance Standard in Ireland. The effective date of the standard will be for the assurance of sustainability reporting for financial years starting on or after 1 January 2024, as required by the European Corporate Sustainability Directive (CSRD). As required by the CSRD, … Continued
See more...IAASA invites potential members and advisors to enquiry/investigation committees
February 9, 2024IAASA undertakes statutory enquiries (‘s933 Enquiries’) and investigations (‘s934 Investigations’) under the companies act 2014 and its own regulations. The preliminary stages are undertaken by the executive. From time to time, IAASA may need to establish committees to carry out full enquiries/investigations, where the matter cannot be settled by mutual agreement before that stage. Membership … Continued
See more...Outcome of financial statement examinations completed in 2023
January 30, 2024Today, the Irish Auditing and Accounting Supervisory Authority (IAASA) has published a summary of the outcomes of its examinations of financial reports completed in 2023. This summary outlines the findings from financial statement examinations completed by IAASA’s Corporate Reporting Supervision Unit in the year. The summary indicates: The summary may be accessed here
See more...IAASA has published a Consultation paper on its proposal to revise International Standard on Auditing (ISA) (Ireland) 505
January 9, 2024IAASA has published a Consultation paper on its proposal to revise International Standard on Auditing (ISA) (Ireland) 505 External Confirmations and make related conforming amendments to ISA (Ireland) 600 (Revised February 2023) Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors). The proposed effective date of the revised standard is … Continued
See more...Letter issued to CEOs of RABs regarding approval of statutory auditors as Sustainability Assurance Service Providers prior to 1 January 2026
November 29, 2023IAASA issued a letter to the CEOs of Recognised Accountancy Bodies (RABs) with regard to the Supervisory Authority’s expectations for the initial approval of existing statutory auditors to be Sustainability Assurance Service Providers ( SASPs). Statutory Auditors approved prior to 1 January 2026, can seek approval as a SASP by acquiring the requisite knowledge of … Continued
See more...Reminder Closing Date 08/12/23 – Vacancies on the Technical Advisory Panel of the Irish Auditing and Accounting Supervisory Authority
November 28, 2023The Irish Auditing and Accounting Supervisory Authority is seeking applications from suitably experienced candidates for appointment to its Technical Advisory Panel (‘TAP’) for two vacancies commencing in February 2024. The TAP contributes to the work of IAASA in adopting auditing standards and related guidance for use in Ireland. Applications are invited from candidates from diverse backgrounds with … Continued
See more...Career opportunities in IAASA
November 23, 2023IAASA is seeking to fill a number of roles. Corporate Reporting Specialists examine the compliance of certain entities’ periodic corporate reporting with applicable accounting standards (principally IFRS and Irish/UK GAAP) and relevant legislation. Additionally, they examine the compliance of those entities’ sustainability reporting in accordance with the Corporate Sustainability Reporting Directive (CSRD ). The Unit … Continued
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