Welcome to the latest edition of Technical Roundup.
In developments since the last edition, IAASA has published its Work Programme for 2026-2028, Accountancy Europe has published a new paper which looks at third party ownership in the European accounting sector and EFRAG has published its eagerly awaited draft simplified European Sustainability Reporting Standards.
Read more on these and other developments that may be of interest to members below.
Chartered Accountants Ireland has responded to the IFRS Interpretations Committee (IFRIC) Tentative Agenda Decision on Classification of a Foreign Exchange Difference from an Intragroup Monetary Liability (or Asset) (IFRS 18). In its submission, the Institute highlighted its concerns regarding the Tentative Agenda Decision and encouraged IFRIC to undertake additional technical analysis on the issue to decide whether standard setting on this matter is necessary.
The European Financial Reporting Advisory Board (EFRAG) has updated its Endorsement Status Report to reflect the recent amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Translation to a Hyperinflationary Currency.
The International Accounting Standards Board (IASB) has issued its November 2025 update and podcast.
The IASB has issued illustrative examples which demonstrate how companies can apply IFRS Standards when reporting the effects of uncertainties in their financial statements.
In its recently published Exposure Draft entitled “Risk Mitigation Accounting Proposed amendments to IFRS 9 and IFRS 7”, the IASB has proposed a new accounting model which it hopes will “better reflect how financial institutions manage interest rate risk throughout their portfolios”. The Exposure Draft remains open for public comment until 31 July 2026.
As part of its work in response to the IASB research project on the Statement of Cash Flows and Related Matters, the UK Endorsement Board has published its fifth research paper on the topic. This paper covers the prevalence of net debt disclosures globally, their importance to users of financial statements, and how the IASB might improve the accessibility and comparability of this key financial performance metric.
The International Public Sector Accounting Standards Board (IPSASB) has issued an updated IPSAS 33 ‘First-time Adoption of Accrual Basis International Public Sector Accounting Standards’.
The Irish Auditing & Accounting Supervisory Authority (IAASA) has recently published its Work Programme for 2026–2028.
The Financial Reporting Council (FRC) has published its annual 'Audit Market and competition developments' report, showing that initiatives to promote a more resilient and competitive audit market have supported firms outside of the Big Four to build their share of Public Interest Entity (PIE) audit engagements.
EFRAG has published the eagerly awaited draft simplified European Sustainability Reporting Standards (ESRS), along with its technical advice to the European Commission. In its press release, EFRAG have highlighted many of the simplifications implemented which it hopes will help reporting companies integrate sustainability reporting into their business. The simplifications noted by EFRAG include:
Also, on 4 December EFRAG launched the ESRS Knowledge Hub, an interactive online platform designed to support companies, practitioners and stakeholders in navigating the European Sustainability Reporting Standards (ESRS) and broader sustainability reporting materials developed by EFRAG. First time users can click the link to go to the landing page and register to log -in.
Anti-money laundering and sanctions
Bruna Szego, Chair of AMLA, appeared before the ECON and LIBE Committees of the European Parliament on 2 December 2025 in Brussels, presenting the Authority’s progress, outlining priorities, and responding to MEPs questions on a range of topics. A full recording of the hearing can be viewed at the following link.
The European Parliament published an in-depth analysis regarding the 'Future of Anti-Money Laundering in the European Union' covering AMLA’s institutional mandate, its interaction with national and EU authorities, and its potential evolution in a digitalised financial environment.
In the UK, on December 17 from 11am to 12pm GMT the Foreign, Commonwealth & Development Office and Office of Financial Sanctions Implementation are holding a free webinar about upcoming changes to the UK Consolidated List and UK Sanctions List. In this webinar they will be discussing the change taking place on the 28 January 2026, an explanation of what improvements are being made to the UK Sanctions List and its search tool and steps to take to ensure you are prepared.
Central Bank of Ireland (CBI)
The CBI hosted the fourth annual Financial System Conference on November 25. At the opening of the conference, Governor Gabriel Makhlouf delivered a speech regarding 'Better Rules, Better Outcomes: The Next Evolution in Financial Regulation'.
The CBI welcomed the announcement by the Tánaiste and Minister for Finance regarding legislation relating to the Finance (Provision of Access to Cash Infrastructure) Act 2025. For more details regarding this legislation, please refer to the following link.
The CBI published the Investment Firm and Intermediary Newsletter. The newsletter includes updates regarding a recent operational resilience thematic risk assessment, implementation of the Individual Accountability Framework (IAF), financial scams and fraud, and the Consumer Protection Code 2025.
The CBI's Deputy Governor Colm Kincaid delivered a speech regarding 'Strengthening Consumer Protection and Supervision in an Increasingly Digitalised World' at the joint International Financial Consumer Protection Organisation (FinCoNet) and Central Bank of Ireland international seminar. This seminar was held as part of the recent 2025 Annual General meeting of FinCoNet in Dublin.
The CBI announced the publication of a report regarding 'Retail Investor Participation in Ireland - Consumer Research and Analysis', which concludes that Irish households are not realising the full benefit of investment options. The report outlines that Ireland has among the lowest levels of direct retail participation in capital markets in the EU, with people tending to prefer to hold their wealth in property, life assurance and pensions, and the fact that Ireland does not yet have all the key factors to success in place to support retail investment.
The CBI's Deputy Governor Vasileios Madouros delivered a speech at the Climate Finance week outlining the macro financial effects of climate change in Ireland. The speech also focused on outlining the fact that progress towards decarbonisation has been slower than intended by the Paris Agreement and highlighted the continued focus of the CBI on climate change and associated risks despite shifting priorities globally.
The CBI's Deputy Governor Colm Kincaid addressed the Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation regarding digital banking focusing on the work of the CBI in the area of digital frauds and scams, and the CBI's evolving approach to supervising financial services provided digitally. For details of the speech, please refer to the following link.
The European Banking Authority (EBA) published an update regarding the 'AI Act: implications for the EU banking and payments sector', which includes an AI Act mapping exercise.
The NCSC in Ireland launched its 2025 National Cyber Risk Assessment. This is a comprehensive review of the cyber threats, systemic risks, and sectoral vulnerabilities facing the State and highlights increasingly sophisticated nation-state activity, the accelerating pace of cybercrime, and growing likelihood of cascading impacts across interconnected sectors. The 2025 National Cyber Risk Assessment is available at the following link.
The National Cyber Security Centre (NCSC) in Ireland published an alert regarding critical vulnerabilities in the Mattermost product. The NCSC strongly recommends installing updates for vulnerable systems with the highest priority, after thorough testing. Affected organisations should review the latest release notes and install the relevant updates from Mattermost.
The NCSC in the UK recently published an article calling for all small businesses to act in relation to cybersecurity including using the NCSC's Cyber Action Toolkit.
A report was published by Munster Technological University (MTU) regarding 'SME Cyber Resilience - State of the Sector 2025' in collaboration with the NCSC in Ireland. The report concludes that Ireland's small and medium enterprises (SMEs) face a critical cyber resilience gap.
The Charity Commission for Northern Ireland will hold its annual public meeting on Thursday, 22 January 2026 from 10.30am to 12.30pm at Malone House, Barnett Demesne, Belfast, BT9 5PB.
The Corporate Enforcement Authority (CEA) has issued their November 2025 newsletter which includes updates on recent events and advocacy work, also the latest developments in company law.
The Department of Enterprise, Tourism and Employment has carried out a periodic critical review of IAASA, as required by the Code of Conduct for the Governance of State Bodies. This report outlines that IAASA is performing well in undertaking its standard setting, supervisory enforcement and advisory functions and set out some recommendations for the Authority.
The European Parliament and Council of the European Union negotiators announced a provisional agreement on the Payment Services Regulation and the Third Payment Services Directive (PSD3). The deal focuses on a more open and competitive EU payment services sector, with strong defences against fraud and data breaches to focus on more protection from online fraud and hidden fees. In terms of next steps, the deal needs to be formally adopted by the Parliament and Council before it can come into force with exact implementation timelines not yet confirmed. The Banking and Payments Federation Ireland (BPFI) also published a statement welcoming the provisional agreement of the EU Payment Services Regulation (PSR).
The European Commission recently announced the 'European 2030 Consumer Agenda', which focuses on the strategic vision for EU consumer policy. The agenda focuses on an action plan for consumers in the Single Market, digital fairness and consumer protection online, stronger enforcement, and sustainable consumption. For details of the agenda, please refer to the attached document and factsheet.
The European Central Bank (ECB) has published a press release outlining an overview of financial stability vulnerabilities for the Euro area, which are included in the ECB's November 2025 Financial Stability Review. The review highlights that financial stability vulnerabilities remain elevated given uncertainty over geoeconomic trends and tariff impacts.
For further technical information and updates please visit the Technical Hub on the Institute website.
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