Practice Plus July 2020




Welcome to the July edition of Practice Plus. We hope you are all well and getting a break over the summer period. This month we bring you guidance on changes to criteria for audit qualification, the Digital Competency Maturity Model (DCMM™) survey and details on a new agreement between CPA Ireland and the Analytics Institute of Ireland.

Important Notice - Changes to Eligibility Criteria for Audit Qualification

Members and students are advised of changes to CPA Ireland’s Bye Law 13, Practice and Audit Regulations, from 1st July 2020. Bye Law 13 sets out the requirements for CPA members who wish to obtain a practising certificate or become a statutory auditor.
Read more.

Digital Competency Maturity Model (DCMM™) - Take the Survey

The Digital Competency Maturity Model (DCMM™) comprises a questionnaire that enables practices to rate their current level of maturity on digital competency, identify areas where competencies are strong or lacking and then develop a road map for achieving a higher level of maturity.
Read more.

ODCE 2019 Annual Report

The ODCE has published its Annual Report for 2019.
Read more.

CPA Ireland and the Analytics Institute of Ireland Establish a New Agreement

Newly qualified CPA Ireland accountants will now have the opportunity to automatically be recognised as a Certified Business Data Analyst. This follows a new collaboration between CPA Ireland, and the Analytics Institute of Ireland.
Read more.

CCAB-I Correspondence with Revenue regarding the TWSS Compliance Programme

In recent correspondence to CCAB-I, Revenue said that employers having difficulty preparing information in response to letters issued under the TWSS compliance programme can contact Revenue for additional time.
Read more.

Audit Implications of COVID-19

In a recent article in Accountancy Plus, Colm Divilly explores the audit implications of COVID-19.
Read more.

CRO Annual Report 2019

The annual report of the CRO is available on the CRO website. In respect of applications for extension to filing time in 2019, CRO received 687 notices of applications from companies to the District Court and 3 notices of application to the High Court.
Read more.

Accountancy Europe June SME and Technology Updates

Accountancy Europe has published its June SME and Technology updates.
Read more.

Charity SORP Survey

In March 2020, a new Charity SORP Review group was formed with members drawn from the 4 charity law jurisdictions (including Ireland) covered by Irish-UK GAAP. This group will advise the SORP-making body on a review of the existing SORP and recommend changes to be incorporated in an updated SORP.
Read more.