Expectations in respect of the European Single Electronic Format (ESEF) Regulation Under the EU Transparency Directive and ESEF Regulation, annual financial reports of issuers which have securities listed on an EU regulated market must be published in accordance with the requirements of the European Single Electronic Format (ESEF) for financial years beginning on or after … Continued

Earlier this year, it was announced that the requirements of the European Single Electronic Format (ESEF) Regulation would be postponed  for one year as part of the EU Capital Markets Recovery Package. In light of this delay, under  the EU Transparency Directive and ESEF Regulation, annual financial reports of issuers which have securities admitted to … Continued

IAASA, Ireland’s accounting enforcer, has today published its annual Observations paper highlighting some significant topics that those charged with governance should consider when preparing their financial statements for 2021.  IAASA’s paper highlights some key areas that warrant close scrutiny by those preparing, approving and auditing 2021 financial statements in the upcoming reporting season including:  alternative performance … Continued

IAASA has recently finalised guidelines for the recognised accountancy bodies which apply when they perform investigation and disciplinary functions in respect of their accountant and auditor members. The effective date of these guidelines is 1 January 2022. The provision of accounting and auditing services to clients places accountants in a special position of trust. Clients, … Continued

Pursuant to its powers under section 931(4) of the Companies Act 2014 (‘the Act’), the Irish Auditing and Accounting Supervisory Authority (‘the Authority’) has decided to revoke the recognition of the Institute of Chartered Accountants in England and Wales (‘ICAEW’) granted under S.930 of the Act with effect from 21 July 2021. This means that … Continued

On 31 March 2021 the European Securities and Markets Authority (ESMA) issued a Public Statement “Brexit: Clarifications on the application of the TD requirements by UK issuers with securities admitted to trading on regulated markets in the EU” concerning the application of transparency requirements by UK issuers with securities admitted to trading on regulated markets … Continued

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/UK GAAP) and relevant legislation.  The Unit is also responsible for liaising with other countries’ financial reporting and enforcement bodies and fora, … Continued

Following public consultation, IAASA has today (21 December) issued: International Standard on Quality Management (‘ISQM’) (Ireland) 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements; International Standard on Quality Management (Ireland) 2, Engagement Quality Reviews; and International Standard on Auditing (‘ISA’) (Ireland) 220 (Revised … Continued

IAASA has published a Consultation Paper on its proposals to issue  revised versions of International Standard on Quality Management (‘ISQM’) (Ireland) 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements; International Standard on Quality Management (Ireland) 2, Engagement Quality Reviews; and International Standard on Auditing (‘ISA’) … Continued

In 2019, the International Forum of Independent Audit Regulators (IFIAR) established the Internationally Relevant Developments in Audit Markets Task Force to monitor developments in IFIAR Member jurisdictions, focusing on developments relevant to the audits of public interest entities. To do so, the task force conducted an extensive survey amongst IFIAR Members in the beginning of … Continued