Coronavirus (COVID-19) disclosures in published financial statements May 2020

Coronavirus (COVID-19) disclosures in published financial statements In our published survey of 22 public company financial statements we highlight several useful examples of disclosure that company directors, auditors, accountants and financial controllers will find of relevance, in the midst of the Coronavirus (COVID-19) pandemic. This thirty-page report, just published on our website, is available to… Read More


Do you know what your kids are up to?

Cybercrime is not without victims and is taken extremely seriously by law enforcement. Teenagers can drift into cyber-crime without realising the seriousness of their actions. In a timely video message from the UK National Crime Agency (NCA), parents are warned about the crimes teenagers can get involved in, especially during COVID-19 confinement. The NCA have… Read More



Do you have a stocktake to attend today?

Following the announcement by the Taoiseach, on the 27th March, all non-essential workers must stay at home and only travel for work if absolutely necessary. This means disruption to 31st March stocktake attendance by auditors. It’s unclear how popular a 31st March period end is in Ireland. It tends to be more popular in the… Read More


How are you coping with working from home?

Many accountants and their staff are on a steep learning curve discovering what it’s like to work from home. I started working from home (WFH) eleven years ago, which seems like a lifetime ago now. It took some getting used to, from IT issues to challenges around time management and work/life balance. For those of… Read More


By 2022 an estimated 60% of world GDP will be digitalised

According to the Financial Action Task Force (FATF), digital payments are growing at an estimated 12.7% annually and are forecast to reach 726 billion transactions annually by 2020. Within the next two years, an estimated 60% of world GDP will be digitalised. As we mentioned in last week’s blog, the FATF recently issued a guidance… Read More


New Procedures Manual to help with AML

We have just published an update to the AML Policies Controls & Procedures Manual last week, which is available to purchase now on our website. Our latest February 2020 edition includes the following updated items: Pronouncement by the FATF arising from their Public Consultation on FATF Draft Guidance on Digital Identity (discussed at the FATF plenary meeting… Read More


FSSU deadline highlights the inadequacies of the Education Act, 1998

Many accountants and auditors are working hard this week to assist primary and post-primary schools around Ireland meet the 28 February 2020 deadline set by the Financial Support Services Unit (FSSU) for the filing of schools’ annual financial statements. The Education Act, 1998 (the Act) is the relevant legislation that governs this area but it’s… Read More



How to deal ethically with conflicts of interest

As we highlighted last week there is a newly revised and restructured Code of Ethics coming soon for accountants in Ireland, expected to be effective from the 1st of March 2020. Sometimes accountants realise they have a conflict of interest due to lack of foresight or pre-planning. An example could be trying to sort out… Read More