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The Companies Act 2014: ‘Big Bang’ and Unintended Consequences

There are some unintended consequences arising from the ‘big bang’ method of implementation of the Companies Act 2014 which auditors, accountants and other professionals need to be aware. On 1 May 2015 the Irish Minister for Jobs, Enterprise and Innovation, Mr Richard Bruton signed the commencement order providing that the Companies Act 2014 (the “Act”)… Read More



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Inter-Company and Directors’ Loans and the impact of FRS 102

Groups, stand alone companies and company directors may have, in the past, relied on informal arrangements and verbal agreements. They may now wish, as a result of the rule changes in FRS 102, to introduce more formal documentation to ensure their intentions are reflected in the contractual terms and in the accounting, so as to… Read More


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More than a decade on: why is AML still an issue?

It would seem fair to assume that after eleven years the profession has got to grips with the anti-money laundering (AML) regulations. However they remain one of the key problem areas encountered on regulatory inspections. Perhaps the obvious reason for failing to focus on AML procedures is that firms can’t raise a fee note for… Read More




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Nine Key Differences Between Current Irish/UK GAAP and FRS 102

  Nine Key Differences Between Current Irish/UK GAAP and FRS 102 Introduction   The article examines the more common areas of difference between the existing Irish/UK GAAP i.e. the existing FRSs/SSAPs and UITF (Urgent Issues Task Force) pronouncements and new Irish GAAP. The new Irish/UK GAAP is called FRS 102 and it comes into force… Read More


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Engagement letter fundamentals – an important line of defence

Welcome to another of our regular blogs on topical issues for accountants in practice. Our last blog https://jmcc.ie/d7/node dealt with engagement letters in general and focused on audit and audit exempt engagement letters. This blog targets tax engagement letters specifically.   Engagement letter fundamentals – an important line of defence Tightening the language used in… Read More


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Are your engagement letters up to date?

Welcome to the first of our regular blogs on topical issues for accountants in practice. Are your engagement letters up to date? Once upon a time it was possible to have the same client engagement letter in place for several years, without too much upset. However the pace of change in the various pieces of… Read More