IAASA has published a Consultation paper on its proposal to revise International Standard on Auditing (ISA) (Ireland) 600: Special Considerations – Audits of Group Financial Statements (including the Work of Component Auditors) and make related conforming amendments to other standards. The proposed effective date of the revised standard is for audits of group financial statements … Continued

ISA (Ireland) 315 (Revised October 2020), Identifying and Assessing the Risks of Material Misstatement, is effective for audits of financial statements beginning on or after 15 December 2021. The standards that have been updated to reflect the conforming amendments, including the corrections in the 2020 edition of the International Auditing and Assurance Standards Board’s Handbook, are:

ESMA has recently published an updated ESEF Reporting Manual applicable to the 2022 financial year. This manual includes the requirement to mark up the notes to and the accounting policies of the IFRS consolidated financial statements, following the “block tagging” approach. This has the potential to be a significant task and we encourage issuers to engage early … Continued

IAASA over recent weeks has published a series of videos designed to provide information on the new suite of Quality Management Standards in Ireland. The full series is available here. To accompany the video series, IAASA has published a factsheet for each Quality Management Standard available here. The new standards apply to periods from 15 December 2022. Firms … Continued

IAASA, Ireland’s accounting enforcer, has today published a paper setting out information requests that it has raised with companies on their climate-related disclosures in their annual financial reports. The primary purpose of this paper is to provide preparers, auditors and users of financial statements with information to encourage discussion as to whether issuers adequately consider … Continued

IAASA has published its final video in a series designed to provide information on the Quality Management Standards in Ireland. This video provides an overview of the revisions to ISA 220 – Quality Management for an Audit of Financial Statements. Find the explainer video at the following link here

IAASA, Ireland’s accounting enforcer, has today published its annual Observations paper highlighting matters that those charged with governance should consider when preparing their financial statements for 2022. The paper notes that 2022 financial statements will be prepared against an uncertain outlook with businesses facing uncertainties: Meanwhile, the COVID-19 recovery path remains unclear and sporadic resurgence in cases … Continued

IAASA has published a Consultation Paper on its proposed revised Policy Paper – Publication of information regarding IAASA’s financial reporting supervision activities. The purpose of this proposed revised Policy Paper is two-fold: (a)to set out IAASA’s policy on the publication of the outcomes of its financial reporting examination activities, and (b)to set out the nature and … Continued

IAASA has published its fourth video in a series designed to provide information on the Quality Management Standards in Ireland. This video provides an overview of International Standard on Quality Management 2 – Engagement Quality Reviews. The final video in the series, which will be published on IAASA’s YouTube channel over the coming weeks, will … Continued

IAASA has published its third video in a series designed to provide information on the Quality Management Standards in Ireland. This video provides an overview of the eight components of a system of quality mangagement as set out in International Standard on Quality Management 1- Quality Management for Firms that Perform Audits or Reviews of … Continued