Following public consultation last year, IAASA has published a revised Ethical Standard for Auditors (Ireland). As part of the revisions to the standard, IAASA has also updated its Glossary of Terms. IAASA has also published a feedback paper which summarises its response to the main points raised by the consultation respondents. The effective date of … Continued

IAASA has today published a decision about the accounting treatment applied by Glanbia plc in its 30 December 2023 annual financial statements. This decision focused on the identification of cash-generating units (CGUs) by the issuer which, in turn, impacts the level at which a company performs impairment tests. Glanbia plc provided voluntarily undertakings that future … Continued

IAASA has published a decision about the accounting treatment applied by Kenmare Resources plc in its 31 December 2023 annual financial statements. This decision focused on the company’s value-in-use (VIU) projections and how they considered climate change. Kenmare Resources plc provided voluntarily undertakings that future financial statements would: You can find the full financial reporting … Continued

Firmwide systems of quality management show increase in findings. Small decrease in percentage of inspected audit files needing improvement. Today, IAASA has published its 2024 quality assurance review reports in respect of seven firms that perform statutory audits of public-interest entities (PIEs) in Ireland. The reports summarise IAASA’s inspection of each firm’s internal system of … Continued

Today, IAASA released a paper summarising the outcomes of its 2024 financial report examinations. The summary highlights the various issues IAASA addresses with companies as part of its corporate reporting supervision. The paper indicates a strong overall compliance with financial reporting requirements. IAASA remains dedicated to ensuring transparency and accountability in corporate reporting.

The Minister for Trade Promotion, Digital & Company Regulation, Dara Calleary TD has appointed Ms Aisling Kennedy as Chairperson of IAASA with effect from the expiry of her predecessor’s term. Aisling is a current member of the board, and has broad experience as a company director in a range of areas. Aisling will assume the … Continued

The IAASA Audit Committee Briefing 2024 has now been uploaded to the IAASA YouTube channel. You can access all sessions here.

IAASA hosted the IAASA-IAFA Conference on ‘Integrating Sustainability Reporting and Assurance into Accounting Education’ at Maynooth University last Friday 1 November 2024. The discussions on the sustainability imperative and the Corporate Sustainability Reporting Directive highlighted the significant changes already in progress and those ahead for accounting education. The dialogue on preparing future accountants for sustainability … Continued

The European Securities and Markets Authority (ESMA) has published its annual Public Statement setting out the European common enforcement priorities (ECEP) for 2024 annual corporate reports. The Statement addresses financial reporting and sustainability reporting topics. The ECEPs Statement is available here.