IAASA, Ireland’s accounting enforcer, has published its annual
Observations paper highlighting matters that those charged with governance should consider when preparing their financial statements for 2022.
The paper notes that 2022 financial statements will be prepared against an uncertain outlook with businesses facing uncertainties:
- interest rate increases with the first European Central Bank rate rises in 10 years and the expectation of further rate increases later in the year
- inflation with domestic price increases at their highest level in 38 years, and
- a slowdown in economic growth forecasts and some talk of recessionary risks in some economies.
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