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IAASA launches information series ‘What IAASA does’

April 4, 2022

We are pleased to launch our information series on ‘What IAASA does’. This series is intended to promote awareness and understanding of IAASA’s role. Each instalment will focus on a key function that IAASA performs under the Companies Act 2014. It will include a short explainer video along with factsheets and a set of useful … Continued

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IAASA publishes Information Note “Applying IFRS 9 Financial Instruments – expected credit losses”

January 14, 2022

IFRS 9 Financial Instruments, which sets out an impairment model based on an expected credit loss (ECL) model for financial instruments, became effective in 2018. Since its first application, IAASA has examined how banks have applied the key judgements in IFRS 9. IAASA’s Information Note is based on observed trends in the application of IFRS … Continued

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Opportunity for experienced accounting professional

January 3, 2022

IAASA seeks to recruit a Project Manager to its Financial Reporting Supervision Unit.  The Financial Reporting Supervision Unit examines the compliance of certain entities’ periodic financial reporting with applicable accounting standards (principally IFRS and Irish GAAP) and relevant legislation.  The Unit is also responsible for liaising with other countries’ financial reporting and enforcement bodies and fora, … Continued

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IAASA publishes reports on the quality assurance review of firms that audit public-interest entities

January 3, 2022

Today, IAASA has published its 2021 quality assurance review report in respect of seven firms that perform statutory audits of public-interest entities in Ireland. The reports summarise IAASA’s assessment of areas of each firms’ system of quality control and include any findings and recommendations made by IAASA to the firm. The reports also summarise the … Continued

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IAASA issues revised ISA (Ireland) 240

December 10, 2021

IAASA issues revised ISA (Ireland) 240 Following public consultation, IAASA has today (12 October) issued a revised version of: ISA (Ireland) 240 The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements The main changes to the standard are designed to: provide increased clarity about the auditor’s obligations to detect material fraud enhance … Continued

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Central bank publishes findings and expectations from a review of compliance with Market Abuse Regulation.

December 7, 2021

The Central Bank today (12 July 2021) published a series of findings and expectations from its industry-wide review of compliance with the Market Abuse Regulation (MAR). This review examined how regulated firms, issuers, and advisors who act on behalf of issuers are meeting their obligations to ensure organisational arrangements are effective in mitigating the risk … Continued

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IAASA Website Questionnaire

December 5, 2021

IAASA has issued a short questionnaire regarding the proposed redesign of the IAASA website. The purpose of this questionnaire is to obtain the views of stakeholders with regard to IAASA’s website, including its content, design and functionality. The questionnaire is available here. Stakeholders and interested parties are invited to provide responses to the questionnaire no later … Continued

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ESMA publishes report on EU accounting enforcement in 2021

December 3, 2021

The European Securities and Markets Authority (ESMA) has published its report “2021 Corporate reporting enforcement and regulatory activities”.  ESMA’s Report aims to assist companies, Audit Committees and their auditors to further improve future financial and non-financial reports, by assessing how companies comply with International Financial Reporting Standards (IFRS) and non-financial reporting obligations and adhere to ESMA’s recommendations. The … Continued

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IAASA publishes reports on the quality assurance review of public-interest entity audit firms

December 3, 2021

Today, IAASA has published a quality assurance review report in respect of each of Ireland’s seven audit firms that perform statutory audits of public interest entities (PIE audit firms). Each of the reports summarise IAASA’s findings arising from the quality assurance reviews of the PIE audit firms that took place in 2020.  Where improvements are … Continued

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