IAASA has published its annual Profile of the Profession for 2021. This contains statistical data provided by the six Prescribed Accountancy Bodies (‘PABs’) within IAASA’s supervisory remit.   The Profile of the Profession presents an overview of the PABs’ members and students and includes statistics about the PABs’ regulatory and monitoring activities.

IFIAR has published its tenth annual survey of inspection findings arising from its member regulators’ individual inspections of audit firms. IFIAR’s 2021 survey of inspection findings is available here. Should you have any queries, please contact IAASA at [email protected] About IFIAR’s 2021 survey 52 IFIAR members contributed to the survey and reported findings affiliated with … Continued

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

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

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

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

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

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