Welcome to the latest edition of Technical Roundup.
In developments since the last edition, the CCAB-I Insolvency Committee has published a new Creditors Voluntary Liquidation Statutory Meeting Handbook. The purpose of the Handbook is to aid directors in the pre-appointment period and insolvency professionals in the post appointment period. The Financial Reporting Council (FRC) is hosting a series of roundtables to discuss their Future of Audit Supervision Strategy (FASS). The first roundtable takes place on Monday 9th June with additional dates scheduled throughout the summer.
Read more on these and other developments that may be of interest to members below.
Financial Reporting
The Financial Reporting Council (FRC) is hosting a series of roundtables to discuss their Future of Audit Supervision Strategy (FASS). The first roundtable takes place on Monday 9th June with additional dates scheduled throughout the summer.
The European Financial Reporting Advisory Group (EFRAG) has published its draft endorsement advice on IFRS 19 ‘Subsidiaries without Public Accountability: Disclosures’. The draft advice recommends that IFRS 19 should be endorsed in the EU. The invitation to comment which accompanies the draft endorsement advice is open for public comment until of 3 September 2025.
EFRAG has published its Annual Review 2024. This review provides a comprehensive overview of its activities, milestones, and strategic developments over the past year.
EFRAG has also published its April 2025 update. This summarises the public technical discussions held and decisions taken over the past month.
The IFRS Foundation has published a two-part webcast series which explain the main changes to the IFRS Taxonomy following the introduction of IFRS 18 Presentation and Disclosure in Financial Statements.
The FRC has published the UK Stewardship Code 2026 which presents a framework for reporting that demonstrates high quality stewardship to support economic growth and investment.
Auditing and Assurance
The Financial Reporting Council (FRC) has issued a consultation on a proposed UK version of the International Standard on Sustainability Assurance (ISSA) 5000, “General Requirements for Sustainability Assurance Engagements”. The consultation proposes ISSA (UK) 5000 for use on a voluntary basis by assurance providers and comments are requested by 31 July 2025.
As part of its campaign to support small and medium-sized enterprises (SMEs) access audit services, the Financial Reporting Council (FRC) has issued additional material to help SMEs effectively engage with the annual audit process.
The Irish Auditing and Accounting Supervisory Authority (IAASA) recently published its 2024 Annual Audit Programme and Activity Report. The report details IAASA's oversight of the audit profession during 2024, providing valuable transparency into how audit quality is regulated in Ireland. IAASA mentions its key highlights in 2024 which includes completion of supervisory reviews of accountancy bodies' investigation and disciplinary systems and support for implementation of the Corporate Sustainability Reporting Directive (CSRD) in Ireland.
Insolvency
The CCAB-I Insolvency Committee has published a new Creditors Voluntary Liquidation Statutory Meeting Handbook. The purpose of the Creditors Voluntary Liquidation (CVL) Statutory Meeting Handbook is to aid directors in the pre-appointment period and insolvency professionals in the post appointment period. This document provides a compendium of statutory meeting templates and guidance around the various meetings during the course of a CVL. It also assists Liquidators in complying with legislative and SIP requirements when conducting statutory meetings, reporting to creditors and approval of remuneration.
On 11 June, Derek Wilson, a licensed insolvency practitioner and experienced insolvency monitor, and Sarah-Jane O’Keeffe, director at Azets, along with Chartered Accountants Ireland, are hosting a free webinar which will provide an overview of best practice and introduce the new Creditor Voluntary Liquidation workbook. The workbook has been produced to assist Liquidators in complying with legislative and SIP requirements when conducting statutory meetings, reporting to creditors and approval of remuneration. Click here to register for this free webinar.
Sustainability
Wim Bartels, Chair of Accountancy Europe’s Sustainability Policy Group and member of EFRAG’s Sustainability Reporting Board, spoke on behalf of Accountancy Europe at the European Parliament (EP) Legal Affairs Committee hearing on sustainability reporting obligations on 13 May. During this, he shared some of the early insights of the CSRD and ESRD based on the first year of implementation.
The International Sustainability Standards Board (ISSB) May 2025 update and podcast have been published.
The International Sustainability Standards Board (ISSB) has published the recording of its tenth 'Perspectives on sustainability disclosure' webinar. The webinar is titled ‘Governance of sustainability-related risks and opportunities’.
Artificial intelligence
Minister of State for Trade Promotion, Artificial Intelligence and Digital Transformation Niamh Smyth made a high-profile visit to Singapore at the end of May at the invitation of the Singaporean Government to participate in Asia Tech x Singapore (ATxSG) 2025.
Anti-money laundering and sanctions
The Central Bank of Ireland has announced that Derville Rowland, Deputy Governor Consumer and Investor Protection, will join the newly established Anti-Money Laundering Authority (AMLA).
Central Bank of Ireland (CBI)
The Central Bank of Ireland published its Annual Report and Annual Performance Statement for 2024 on 29 May. Click to read the Governor’s blog on the CBI 2024 Annual Report.
We reported in our last edition on the passing into law of the Finance (Provision of Access to Cash Infrastructure) Act 2025. CBI recently welcomed the enactment of the legislation saying that CBI is committed to ensuring that cash is readily available as a means of payment and it warmly welcomes the signing into law of this significant legislation.
CBI has published its May 2025 Investment Firm and Intermediary Newsletter. It is a twice-yearly publication by supervision teams within the Investment Firms & Retail Intermediary Supervision Division of the Capital Markets & Funds Directorate. While the newsletter main focus is on new items on its website and regulatory issues that MiFID investment firms need to be aware of, the information on DORA Digital Operational Resilience and the EU Accessibility Act may be of general interest to readers.
Click to read comments of the CBI Director, Capital Markets and Funds at the recent Blockchain Ireland Summit 2025 including some insights on the implementation of the Markets in Crypto-Assets Regulation (MiCAR) regime.
Other news
The Financial Reporting Council (FRC) has published the UK Stewardship Code 2026, an updated set of principles which offers a framework for reporting that demonstrates high quality stewardship to support economic growth and investment. The new Code takes effect from 1 January 2026 and aims to support long-term sustainable value creation while significantly reducing the reporting burden for signatories.
The European Securities and Markets Authority (ESMA) has issued a Call for Evidence (CfE) on the retail investor journey under MiFID II in order to assemble feedback from stakeholders to better understand how retail investors engage with investment services and whether regulatory or non-regulatory barriers may be discouraging participation in capital markets.
The Minister for Enterprise, Tourism and Employment, Peter Burke, TD, has announced the establishment of a dedicated Small Business Unit, based in the Department of Enterprise, Trade and Employment.
Accountancy Europe has published its May 2025 update which discusses many matters of relevance to accountants across Europe including AML and sustainability.
The Irish Pensions Authority recently published the text of an address in March 2025 by the Pensions Regulator to the Irish Association of Pension Funds’ Spring Conference. The address was about the Pensions Authority’s recent supervisory review activities, its plans for the rest of 2025 and its longer-term priorities.
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