IAASA will host its annual audit committee briefing on 22 October 2024. This in-person and live streamed event will feature expert speakers and insightful discussions on regulatory & sustainability topics including discussions with first adopters, as well as trends in ethics & artificial intelligence.  Registration closing 18 October 2024. The event will take place in … Continued

The Irish Auditing and Accounting Supervisory Authority (IAASA) has today published its 2023 Annual Audit Programme and Activity Report. This report provides a summary of the activities performed by IAASA during 2023 to oversee the audit profession in Ireland and further includes regulatory engagement work proposed for 2024. The report outlines the outcome of IAASA’s … Continued

28 May 2024 The European Securities and Markets Authority (ESMA) has published the 29th Extract from its database of enforcement decisions taken by EU accounting enforcers. The objective of the publication is to provide issuers and users of financial statements with relevant information on the appropriate application of the International Financial Reporting Standards (IFRS). This … Continued

IAASA performed an unlimited interactive examination of the annual financial report of Italian Wine Brands S.p.A. for the year ended 31 December 2022. Consequent on that examination, Italian Wine Brands S.p.A. has published a Corrective Public Notice. The Notice is available here

10 May 2024 The EU Taxonomy Regulation sets out a classification system that defines criteria for economic activities that are aligned with a net zero trajectory by 2050 and the broader environmental goals other than climate. IAASA undertook a desktop examination of the Taxonomy Regulation disclosures of a sample of issuers’ financial statements and has … Continued

IAASA has today published a financial reporting decision relating to Dalata Hotel Group plc’s accounting treatment of the proceeds from the sale of residential units as revenue in its 31 December 2022 annual financial statements. Dalata Hotel Group plc provided voluntarily undertakings that future financial statements would: The financial reporting decision may be accessed here. … Continued

IAASA has published its annual Profile of the Profession for 2023. 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. The full report is available … Continued

Following public consultation, IAASA has today (25 March) issued a revised version of ISA (Ireland) 505 – External Confirmations. The main changes to the standard relate to: The revised standard is effective for audits of financial statements for periods beginning on or after 15 December 2024, with early adoption permitted. The revised standard is available … Continued

Increase in percentage of inspected audit files needing improvement. Results are“disappointing.” Today, IAASA has published its 2023 quality assurance review reports in respect of sevenfirms that perform statutory audits of public-interest entities in Ireland.The reports summarise IAASA’s inspection of each firm’s implementation of the InternationalStandard on Quality Management (Ireland) 1 (ISQM 1) which was effective … Continued

IAASA’s Audit Quality Unit evaluated the quality of EQRs for each audit selected for inspection in 2023, available here. IAASA’s YouTube channel also includes a video on EQRS available here.