Welcome to the first edition of Practice Plus for 2024. In this edition we bring you details of a series of Town Hall events happening around the country to provide information on the proposed amalgamation of CPA Ireland and Chartered Accountants Ireland.
We also advise members of an upcoming thematic AML review and provide updates on relevant tax and audit consultations.
CPA membership amalgamation with Chartered Accountants Ireland - Member Town Hall events
Discover what voting yes to amalgamate with Chartered Accountants Ireland will mean for you as a member of CPA Ireland, our organisation, and for the accountancy profession in Ireland. A series of Town Hall meetings will be held over the coming weeks to answer any questions you may have.
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AML Thematic Review 2024
In Quarter 1 2024, a sample of designated persons for Anti-money laundering (AML) purposes will be selected by CPA Ireland's QA team for an AML review, to assess their compliance with the relevant AML legislation.
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Technical Release – Personal Insolvency (Amendment) Act 2021
The Personal Insolvency (Amendment) Act 2021 completed its passage through the Houses of the Oireachtas and was signed into law by the President in May 2021. A Technical release has been published to assist members.
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Consultation paper to revise ISA 505
IAASA has published a Consultation paper on its proposal to revise International Standard on Auditing (Ireland) 505 External Confirmations, and make related conforming amendments to ISA (Ireland) 600 (Revised February 2023) Special Considerations – Audits of Group Financial Statements (Including the Work of Component Auditors).
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Modernising Ireland’s administration of VAT – public consultation extended
In October 2023, Revenue announced the launch of a
public consultation on modernising Ireland’s administration of Value-Added Tax (VAT).The focus of this initial public consultation is the modernisation of Business to Business (B2B) and Business to Government (B2G) VAT reporting, supported by eInvoicing.
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8 Useful tips to succeed in your Quality Assurance Review
Have you received a recent Quality Assurance review notification from CPA and it is filling you with a sense of dread? The good news is not to worry as we are here to help!
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CPD for Statutory Auditors
Statutory auditors are reminded that they must document the planning and evaluation of their CPD activities on an annual basis. To assist, CPA Ireland have published some supporting templates and guides.
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Revised Solicitors Accounts Regulations 2023
Practitioners are reminded that revised Solicitors Accounts Regulations came into effect from 1
st July 2023. The Solicitors Accounts Regulations 2014 continue to apply in relation to the filing of the reporting accountants report where the accounting period has commenced before 1 July 2023.
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New sample financial statements launched
CPA Ireland has expanded its resource of sample financial statements by adding additional samples to assist members and firms navigate disclosure and reporting requirements.
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Upcoming CPD
CPA Ireland has a host of upcoming CPD events to kick off 2024, including a regulatory update from IAASA and an update on the revised Solicitors Accounts Regulations.
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