IAASA has published a Consultation Paper on its proposals to issue a revised version of ISA (Ireland) 240, The Auditor’s Responsibilities Relating to Fraud in an Audit of Financial Statements The purpose of this consultation paper is to obtain the views of stakeholders with regard to IAASA’s proposals to issue revised standard and conforming amendments. The … Continued

IAASA, Ireland’s accounting enforcer, has today published a further compendium of financial reporting decisions. These decisions relate to accounting treatments applied by Bank of Cyprus Holdings plc, C & C Group plc, FBD Holdings plc, Irish Continental Group plc and Permanent TSB Group Holdings plc in their financial reports.   These decisions cover a range … Continued

IAASA invites expressions of interest in redeveloping its website, and hosting the new site for an initial period of 12 months. Detail of IAASA’s requirements can be downloaded here, or by accessing the Government e-tenders website, www.etenders.gov.ie. The closing date for receipt of expressions of interest has now passed, and late applications cannot be considered.

IAASA seeks to recruit a Project Executive to work in its Regulatory & Monitoring Supervision Unit.  Working as part of a small team, the successful candidate will assist in the performance in a diverse range of assignments relating to the supervision and regulation of the audit and accountancy profession, as set out in the Companies … Continued

IAASA has today published its Transparency Reporting – Thematic Review.  The objective of this thematic review was to assess the effectiveness of transparency reporting by PIE audit firms in Ireland, to share areas of good practice and other reporting innovations, and to highlight areas where firms need to make improvements. Specifically, the thematic review focused on … 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 that it is minded 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 … Continued

The Irish Auditing and Accounting Supervisory Authority (IAASA) will host its annual audit committee briefing on 13 October 2021. Topics this year will focus on auditor reporting, developments in corporate reporting as well as regulatory updates from IAASA. The event is planned as a hybrid event, however depending on the status of public health restrictions, … Continued

IAASA’s thematic paper on data analytics in Ireland’s statutory audit market IAASA has today published a thematic paper discussing the use of data analytics in Ireland’s statutory audit market, available here. IAASA’s paper provides an overview of the areas where auditors perform data analytical audit procedures and supports in place for auditors in using data … Continued

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, has published a study on the application of IFRS 7 Financial Instruments: Disclosures and IFRS 9 Financial Instruments (impairment requirements) regarding banks’ expected credit losses (ECL). The study highlights opportunities for improvement in the level of compliance, comparability and transparency in the application of … Continued