Practice Plus March 2020




Welcome to March’s Practice Plus. In these difficult times we bring you some CPA operational and other coronavirus updates for business and auditors. We also remind practising certificate holders to complete their annual returns to renew their certificates.

Expiry of Practising Certificates

Practising certificate holders are reminded that the deadline to apply for the renewal of practising certificates has now passed. If it is your intention to renew please ensure that you complete the online process immediately to avoid any disruption to your public practice activities.
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CPA Ireland and CPD Update on COVID-19

Due to advice issued recently by the HSE, CPA Ireland will be physically closed to the public, however, it will be business as usual and students and members are advised not to call the main telephone number but to email the relevant person/department.
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Quality Assurance Arrangements

In light of the recently issued government advice regarding COVID-19 virus emergency measures, to minimise disruption, the Professional Standards department will be implementing contingency plan arrangements regarding upcoming quality assurance onsite reviews, with a view to ensuring that reviews are conducted in a manner that does not compromise the health of the parties involved.
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Revenue Measures to Assist SMEs Experiencing Difficulties Arising from COVID-19

Having regard to the measures announced by An Taoiseach to interrupt the transmission of COVID-19, a Revenue press release outlines some key advice and actions taken to assist small and medium enterprise (SME)* businesses experiencing cashflow and trading difficulties arising from the impacts of the virus.
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ESMA Statement on COVID-19

IAASA has re-published a Public Statement made by European Securities and Markets Authority (ESMA) regarding COVID-19.
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FRC Statement on COVID-19

The FRC has this week published guidance for companies and auditors on disclosure of risks and other reporting consequences arising from the emergence and spread of Coronavirus (COVID-19).
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Register of Beneficial Ownership

The CRO have advised on their website that the number of companies which had registered their beneficial ownership details with the RBO at the end of February 2020 was 177,000.
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Fraudulent Trading and Money Laundering Charges

Arising from an investigation conducted by the Office of the Director of Corporate Enforcement ("ODCE") into the former charity Console, the Director of Public Prosecutions has directed that a woman be charged with a number of serious offences.
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Digital Transformation - Transforming Business in Stages

A recent article in Accountancy Plus explored the many benefits and reasons as to why a company would look to automate their business processes
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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. For details of the programmes available and to purchase please click below.
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