Tag Archives: Coronavirus (COVID-19)

Charities Regulator Report by the Numbers

Charities Regulator Report by the Numbers As we saw in last weeks’ blog there is a wide variety of charity on the Register of Charities in Ireland. This week we look at the percentage of charities by income and numbers of employees. Charities by Income 52% of charities had annual income of more than €100,000,… Read More

Charities Regulator Report

Charities Regulator Report The number of charities registered in Ireland passed the 10,000 mark in 2019 (the actual number was 10,514), according to the Charities Regulator which published its annual report in July 2020. The Register of Charities The 10,514 charities on the public Register of Charities at the end of 2019 is an increase… Read More

Anti-Money Laundering Compliance

How is your AML Compliance? In last week’s blog we wrote about the recent publication of the 2019 Annual Report of the Chartered Accountants Regulatory Board (CARB). The section on Money Laundering inspections will be of interest to readers. Money Laundering Compliance Review – Every firm is required to perform an annual money laundering compliance… Read More

Institute Inspection Visit Results for 2019

Institute Inspection Visit Results for 2019 The publication of the 2019 Annual Report of the Chartered Accountants Regulatory Board (CARB) makes interesting reading. It includes the results of the inspections carried out by the Professional Standards Department  that were concluded in 2019. Here we look at an extract from the report where 113 audit inspections… Read More

Audit Evidence

The recent reminder from the Chartered Accountants Ireland Professional Standards Department about findings on audit review visits, could have been written ten years ago or more. The same issues keep coming up. They are essentially about the lack of adequate evidence and lack of documentation of the audit work performed. There are some critical concepts… Read More

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COVID-19 Going Concern, Risk and Viability

‘Going concern’ is not a simple binary or pass/fail concept. A company can be a going concern even when one or more material uncertainties exist. In such circumstances what becomes important is the disclosure about the uncertainties and management’s consideration of these.’ Quote from the recent Financial Reporting Lab’s guidance on ‘Going concern, risk and… 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

COVID19 Symptoms vs Protection

Are your COVID-19 financial statement disclosures appropriate?

The Financial Conduct Authority in the UK said in March 2020 that all London listed companies are permitted two extra months to publish their audited financial results, giving them six months in total. Meanwhile the Irish Companies Registration Office has further extended the filing deadline for all annual returns that are normally due for filing… Read More