Welcome to the first edition of Practice Plus for 2022. We would like to wish you all a very Happy and Prosperous New Year. This month, we bring you lots of news and guidance to keep you updated and informed.

Bye Law 9, PII Revised

Revisions to CPA Ireland’s Bye Law 9, Professional Indemnity Insurance, become effective from 1st January 2022 and apply to members who hold practising certificates. The changes can be summarised as follows;
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New Bye Law 15, Anti-Money Laundering Regulations
A new Bye Law 15, Anti-Money Laundering Regulations, becomes effective for CPA members from 1st January 2022.
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Important Regulatory Update webinar on 27th January - Free for CPA members 
A number of CPA Ireland’s Bye Laws have recently been revised and become effective from 1st January 2022. Many of the changes represent a modernisation and streamlining of the regulations and also reflect new IAASA requirements particularly in the area of CPD for statutory auditors.
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Annual Renewal of Practising Certificates 2022
All CPA Practising and Auditing Certificates are renewed annually. Investment business authorisation must also be renewed.
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Final day for survey – Proposed standard for less complex entities
In late August, the International Auditing and Assurance Standards Board (IAASB) opened a six-month public consultation on its landmark new proposed standard for audits of financial statements of less complex entities (LCEs).
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Changes to CPD for Statutory Auditors
CPA members, affiliated partners and responsible individuals who are authorised by CPA Ireland as statutory auditors are advised that new IAASA CPD Guidelines commence from 1st January 2022. The requirements do not allow for exemptions or waivers of CPD for statutory auditors
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 Fraud and Cybersecurity awareness
The European Payments Council has recently issued its 2021 Payment Threats and Fraud Trends Report which provides an overview of the most important threats on the payments landscape,
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Charities Regulator Newsletter
The Charities Regulator has recently issued its newsletter, which may be of interest to members with charity clients.
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IAASA issue Quality Management Standards
Following public consultation, IAASA has recently issued revised quality management standards:
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Changes to the Quality Assurance Process for 2022

The CPA Quality Assurance process continues for 2022 in accordance with the Companies Act 2014 and Bye Law 7, Quality Assurance. There are some important changes to the process for 2022.
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Accountancy Europe  online event “ A Green Recovery Counts
Accountancy Europe are holding a virtual event on 22th January 2022;10:00am (Central European Time).
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Enterprise Ireland notes Strong Employment Growth figures for 2021

The Tánaiste and Minister for Enterprise, Trade and Employment, Leo Varadkar, TD, and Enterprise Ireland, recently announced that net jobs created in companies supported by Enterprise Ireland increased by 11,911 in 2021.
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