Practice Plus August 2019

Welcome to the August Edition of Practice Plus




This month we bring you details of a webinar being held to hear the views of members on an important IAASB discussion paper which outlines the challenges faced by practitioners in applying the ISAs. We also bring you news of a CPA radio and digital campaign outlining how you can get involved.


Free Webinar - CPA Ireland Wants to Hear Your Views on Auditing Standards

Join the staff of the CPA Professional Standards team for a webinar on the 20th August 2019 to explore and consider the important discussion paper Audits of Less Complex Entities: Exploring Possible Options to Address the Challenges in Applying the ISAs.
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Find a CPA Campaign

This September CPA Ireland will be running a radio and digital campaign to promote the value that CPAs provide to businesses in Ireland and you have the opportunity to get involved.
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The Central Register of Beneficial Ownership of Companies and Industrial & Provident Societies (RBO) - Update

The Registrar of Companies has been appointed as the Registrar of Beneficial Ownership of Companies and Industrial & Provident Societies (RBO) with effect from 29 July 2019.
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CRO Form B1X

As per CRO, the Form B1X can only be used for the revision of financial statements or the revision of the director’s report.
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Tax Matters Relating to the Companies Act 2014

A new Tax and Duty Manual, Part 38-00-01 has been created by Revenue to provide guidance in relation to certain tax matters arising in connection with the Companies Act 2014 and, in particular in relation to tax administration and compliance matters arising from mergers and divisions.
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Update to the Employers Guide to PAYE

Revenue's Tax and Duty Manual Part 42-04-35A ‘The Employers’ Guide to PAYE’ has been updated to provide further clarification and guidance.
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FRC Commentary on Recent Audit Inspections in the UK

The Financial Reporting Council (FRC) recently published commentary on their audit inspections for 2018/19, these principally relate to the audits of companies’ December 2017 year-ends.
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Substantial Increase in Fines as FRC Takes Tough Action to Tackle Poor Quality Audit

The Financial Reporting Council (FRC) in the UK recently issued its first Annual Enforcement Review which reveals a significant increase in sanctions and settlements.
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IAASA Publishes its Profile of the Profession for 2018

IAASA has recently published its 2018 profile of the profession which contains statistical data regarding the eight Prescribed Accountancy Bodies (‘PABs’) within IAASA’s supervisory remit in Ireland for the year 2018.
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IAASA Consult on S. 933 Enquiries

IAASA has issued a consultation paper on its proposal to issue Companies Act 2014 (Procedure Governing the Conduct of Section 933 Enquiries) Regulations 2019.
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CPA Audit and Exempt Work Programmes Available

The CPA Ireland suite of audit and exempt work programmes are used by firms nationwide. They have been designed to ensure that your firm delivers efficient and effective engagements.
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Essential Practice Update in September

The Essential Practice Update event will run in Dublin on the 12th September 2019 and Cork on the 13th September 2019. The event is to cover the following topics - Automation & Accounting, AML, Governance & Ethics and Tax for Practitioners.
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Louth and Meath Education and Training Board Seek Expressions of Interest

Louth and Meath Education and Training Board (LMETB) is in the process of forming new Finance and Audit & Risk Committees following the local authority elections in May.
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