Welcome to the latest edition of Technical Roundup.
In developments since the last edition, IAASA has published Insights Podcast Episode 4 which looks at some key themes and insights from their 2025 Corporate Reporting Observations Document. The National Cyber Security Centre in the UK has launched the Cyber Action Toolkit: a single destination for sole traders, micro businesses and small organisations to start building their cyber defences.
Read more on these and other developments that may be of interest to members below.
Financial Reporting
Chartered Accountants Ireland has issued its response to the International Accounting Standards Board’s request for information on the post-implementation review of IFRS 16 - Leases. The Institute noted its general satisfaction with how the standard is operating and highlighted some areas where clarifications and additional guidance would be beneficial.
The European Financial Reporting Advisory Group (EFRAG) has issued its September Update. This summarises public technical discussions and decisions taken in the month. EFRAG has also issued its September Podcast.
The IFRS Foundation has developed stand-alone modules for each section of the ‘IFRS for SMEs’ Accounting Standard and is in the process of updating these modules to reflect the amendments in the 2025 version of the Standard.
The UK Endorsement Board (UKEB) has published its Final Comment Letter in response to the IFRS Interpretations Committee Tentative Agenda Decision: Updates to Committee’s Agenda Decisions for IFRS 18.
The European Securities and Markets Authority (ESMA) published its annual public statement setting out the European common enforcement priorities for 2025 annual corporate reports.
Auditing and Assurance
IAASA has published an updated compendium of audit reports.
IAASA has published Insights Podcast Episode 4: which looks at some key themes and insights from their 2025 Corporate Reporting Observations Document.
Sustainability
The complete agenda for this year’s IFRS Sustainability Symposium taking place on 30 October 2025 is now available.
The International Sustainability Standards Board (ISSB) has published the recording of Episode 12 of its 'Perspectives on sustainability disclosure' webinar titled 'Climate-related scenario analysis'.
Anti-money laundering and Fraud
Accountancy Europe has recently launched a new AML publication titled ‘7 principles for AML Regulatory Technical Standards Development.’
The European Banking Authority (EBA) published a report on tackling money laundering and terrorist financing (ML/TF) risks in crypto-asset services through supervision. The Report draws on lessons learnt from recent supervisory cases across the EU and highlights how competent authorities can strengthen their approaches to supervision in this fast-evolving sector.
Central Bank of Ireland (CBI)
The Central Bank of Ireland has announced a reduction in the Insurance Compensation Fund Levy to 1% which will take effect from 1st January 2026.
Central Bank of Ireland Governor Gabriel Makhlouf recently spoke at the Atlantic Council during IMF World Bank Week regarding the ‘Trans-Atlantic economy: pathways and perceptions in an era of global fragmentation’.
Artificial Intelligence
The Apply AI Strategy was launched in October 2025 by the European Commission. It aims to harness AI’s transformative potential by increasing and supporting AI adoption and integration across key industrial and public sectors, especially among small and medium-sized enterprises (SMEs). The Strategy encourages an AI first policy where AI is considered as a potential solution whenever organisations make strategic or policy decisions, taking into careful consideration the benefits and the risks of the technology.
The European Commission launched the AI Act Single Information Platform and the AI Act Service Desk to support implementation of the AI Act and to provide resources and tools regarding the AI Act requirements.
Cybersecurity
The National Cyber Security Centre (NCSC) in the UK has launched the Cyber Action Toolkit: a single destination for sole traders, micro businesses and small organisations to start building their cyber defences. The UK Government is concerned enough about cyber risk to send a Ministerial letter on cyber security to CEOs and chairs in October 2025. In it they asked for 3 actions, make cyber risk a Board-level priority using the Cyber Governance Code of Practice, sign up to the UK’s National Cyber Security Centre Early Warning service, and require Cyber Essentials in the company’s supply chain. This is a government-backed scheme which certifies that organisations have key cyber protections in place to prevent common cyber-attacks.
In addition, the NCSC in the UK published its Annual Review 2025 report highlighting that the cyber threats facing the UK continue to escalate and that cybersecurity is now a matter of business survival and national resilience.
The National Cyber Security Centre (NCSC) in Ireland issued an alert regarding multiple vulnerabilities in Oracle E-Business Suite. 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 Oracle Corporation in addition to conducting a compromise assessment. The UK NCSC has also published a similar alert on their website with links included to supporting tools and guidance.
Autumn 2025 Legislation programme
The Government issued its Autumn legislative Programme 2025 in September 2025.
Pre-legislative scrutiny is underway on the National Cyber Security Bill which is listed for priority publication. As we have reported here previously, the Bill will transpose the EU Directive on measures for a high common level of cybersecurity across the Union into national law. The directive was due to be transposed by 17 October 2024, so Ireland is overdue in its implementation and is subject to European Commission infringement procedures for failure to implement. Readers might be interested to note that in the recent budget the allocation to the Department of Justice, Home Affairs and Migration for the National Cyber Security Centre was increased by over 50% to €12 million (This is an increase of €4.1 million). This increased funding is due to the significant expansion in scope and role of the centre as a consequence of the NIS2 Directive and new national security powers from the National Cyber Security Bill.
Heads are in preparation and priority drafting is signalled for the Regulation of Artificial Intelligence and Non-Personal Data Bill. This now appears to have been rolled into one the Regulation of Artificial Intelligence Bill and EU Data Regulation Bill which were two separate bills in the Spring legislative programme. The overarching purpose of the Data Bill is to support innovation and economic growth. It creates a harmonised framework on fair access and use of data and clarifies who can create value from data and under which conditions. It will also give full effect in Ireland to the EU Regulation on Artificial Intelligence, including the establishment of the national AI central office. DETE recently noted there was a €25.5 million increase in current funding, bringing the Department’s allocation to €618 million, which will ensure the delivery of several new and emerging priorities, including establishing the AI Office of Ireland to drive Artificial intelligence adoption and proportionate regulation.
Work is ongoing on a Central Bank (Amendment) Bill 2025 to transpose certain elements of the Sixth Anti-Money Laundering Directive of relevance to the Central Bank of Ireland, through amendment to the Central Bank Reform Act 2011 and/or the Central Bank (Supervision and Enforcement) Act 2013.
Heads are in preparation for a bill to transpose the IDAS Directive. This is to make necessary legislative changes to provide for a digital wallet as required under the European Digital Identity Framework Regulation, which must be available to EU citizens by December 2026 for use on a voluntary basis for online and offline public services across the EU.
Earlier this year the Minister for Children, Disability and Equality announced that the long-awaited gender pay gap reporting portal will be launched in autumn 2025. We note that heads are in preparation in the Autumn legislative programme of a Gender Pay Gap Information (Amendment) Bill to clarify the legislative basis for employers to report their gender pay gap to the Minister via a central online portal.
There is no update in relation to the Co-operative Societies Bill on which work is stated to be ongoing nor on the legislation on limited partnerships and business names.
Other news
The Minister of State for Employment, Small Business and Retail, Alan Dillon, has announced a survey and public consultation seeking the views of stakeholders on the Directive (EU) 2024/2831 of the European Parliament and of the Council of 23 October 2024 on improving working conditions in platform work (Platform Work Directive).
The Charity Commission for Northern Ireland has published a report with outlines a detailed analysis of the 7,258 charities registered by the Commission between December 2013 and July 2025.
The Pensions Authority is conducting an anonymous online customer satisfaction survey which will remain open until close of business on Friday, 31 October 2025.
The European Supervisory Authorities (ESAs) published a warning for consumers regarding the risks and limited protection for certain crypto-assets and providers. The ESAs also published a factsheet on crypto-assets.
The European Data Protection Board (EDPB) published an endorsement of joint guidelines with the European Commission regarding the interplay between the Digital Markets Act (DMA) and the General Data Protection Regulation (GDPR). These are the first joint guidelines planned by the Board and the European Commission, which are now open to a joint public consultation.
The EDPB also published details of the 2026 selected topic for the coordinated enforcement framework as part of the annual priority set by the EDPB regarding a certain topic for Data Protection Authorities to work on at national level. The 2026 selected topic will focus on compliance with the obligations of transparency and information under the General Data Protection Regulation (GDPR).
The European Commission’s Directorate General for Financial Stability, Financial Services and Capital Markets Union (DG FISMA) recently commissioned a Study on Venture and Growth Capital Funds with the aim of identifying barriers to the scaling up of funds investing in innovative and growth- oriented companies. The published document is available to download here.
The Finance Bill 2025 Explanatory Memorandum has been published. This implements the tax changes announced on Budget Day, as well as introducing some administrative and technical changes to the tax code. The 142-page document provides for amendments relating to the rate of VAT applying to the hospitality and hairdressing sectors, the Automatic Enrolment Retirement Savings Scheme, the Participation Exemption for Foreign Dividends, and the rates of taxation that apply to investments in Irish domiciled funds and life assurance policies. It also provides for changes to existing measures to support enterprises and farming, individuals and households, as well as property-related measures. These include the Rent Tax Credit, VAT on the sale of apartments, Residential Zoned Land Tax, Benefit-in-Kind on motor vehicles, the Research and Development Tax Credit, and the Key Employee Engagement Programme. It also provides for amendments to certain Stamp Duty measures and an extension of the Bank Levy.
Minister Burke updated the government on their initiatives on cutting red tape and simplifying processes. From paperwork to progress: Government cuts red tape highlights the achievements made to date.
The Joint Committee of the European Supervisory Authorities (EBA, EIOPA and ESMA - the ESAs) published its 2026 Work Programme, outlining key areas of collaboration for the coming year. The upcoming Programme aims to strengthen the financial system’s digital operational resilience under the Digital Operational Resilience Act (DORA), ensure the continued protection of consumers, and identify risks that could undermine financial stability particularly in the context of ongoing geopolitical tensions and heightened uncertainties.
The European Banking Authority (EBA) published its annual report on convergence of supervisory practices for 2024 across the European Union (EU). The Report details the EBA’s extensive efforts to strengthen the alignment of supervisory approaches across Member States and across all dimensions of its activities including prudential, resolution, consumer protection, digital finance and, until the end of 2025, anti-money laundering/countering the financing of terrorism (AML/CFT).
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