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 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

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

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

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

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

IAASA has today published summary information of its financial reporting enforcement activities undertaken during 2020. The Snapshot document may be accessed here.   The primary role of IAASA’s accounting enforcement activity is to examine the financial reports of the 91 listed entities within its remit for compliance with accounting standards.   In 2020, IAASA examined … Continued

IAASA’s corporate services unit provides a broad range of administrative supports to IAASA, and a Secretariat to the Board and to certain of its Committees.  The Legal Services Manager works as part of the corporate services team, reporting to the head of that unit.  S/he will also act as the Authority’s Data Protection Officer.  The … Continued

IAASA has today published its key messages for auditors in the area of cash and cash equivalents, available here. IAASA’s YouTube channel also now includes a video that shares questions asked by IAASA’s audit inspectors during 2021 in the area of cash and cash equivalents, available here.