Category Archives: Blog


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Latest Manual for Audit Quality Control

Does your ISQC1 Audit Quality Control Manual deal with: • Root Cause Analysis(best practice developments following cold file reviews) and • Section 934 I (3) of the Companies Act, 2014 – as introduced by the Companies (Statutory Audits) Act, 2018 from 21 September 2018, dealing with reporting systems within audit firms to allow audit personnel… Read More


Financial Reporting Council COVID - Resources

COVID-19 Disclosure Resources

In May 2020, the EU Commission predicted that Irish GDP will contract by 7.9% in 2020, as a result of the Coronavirus (COVID-19). The good news is that it has predicted a bounce back of 6.1% in 2021. In this climate, the provision of accurate financial information will be critical in getting Ireland back to… Read More


COVID-19 person in mask

Are you wondering what Coronavirus (COVID-19) disclosures to use in your accounts?

We have recently published a survey of 22 public company financial statements focusing on their Coronavirus (COVID-19) disclosures. Of those companies surveyed, the John Lewis Partnership plc had some of the greatest level of going concern discussion in the notes to the financial statements, with a prominent note under the ‘Basis of Preparation’ section on… Read More


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More Coronavirus (COVID-19) disclosures in published financial statements

Last week we highlighted in our published survey of 22 public company financial statements an example of an Emphasis of Matter audit report. This week, our blog focuses on an extract from the Irish company Grafton plc (in its 31 December 2019 financial statements) which describes the risk: ‘The Group is exposed to the impact… Read More


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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