Welcome to the latest edition of Technical Roundup.
In developments since the last edition, the Central Bank of Ireland has published its Climate Observatory which provides an annual update on climate-related financial and non-financial metrics using a combination of internal analytics and external data sources. The Financial Reporting Council has issued updated Guidance on the Strategic Report, intended to help prepare a strategic report in accordance with the Companies Act 2006.
Read more on these and other developments that may be of interest to members below.
Financial Reporting
The Financial Reporting Council (FRC) has issued updated Guidance on the Strategic Report. The guidance is intended to help prepare a strategic report in accordance with the Companies Act 2006 and has been revised following a comprehensive periodic review, with amendments made to reflect changes to the reporting framework (including changes to the disclosure requirements in the Companies Act 2006 relating to directors' reports and the UK Corporate Governance Code 2024). The FRC noted that it expects to make further amendments to the guidance to reflect any changes to reporting requirements resulting from the Department of Business and Trade's ongoing 'Modernising Corporate Reporting' programme.
The FRC is hosting a series of Digital Reporting outreach events in March and May 2026, aimed at supporting improved understanding of digital reporting using XBRL and the UK taxonomies.
The FRC has also issued guidance to support actuaries in dealing with historic amendments to pension rules. This has been published prior to the upcoming legislation to address the industry-wide uncertainty raised by the “Virgin Media v NTL Pension Trustees” case.
The International Accounting Standards Board (IASB) has published its January 2026 update as well as an addendum to the November 2025 IFRIC update.
The UK Endorsement Board has published its 2026 Work Plan.
Auditing and Assurance
IAASA issued a consultation seeking stakeholders’ views on proposed narrow scope revisions to the International Standards on Auditing (Ireland) and the International Standards on Quality Management (Ireland). The proposed revisions reflect changes made to the international standards by the International Auditing and Assurance Standards Board (IAASB). The closing date for responses to the consultation is Friday 3 April 2026.
The IAASB and International Ethics Standards Board for Accountants (IESBA) launched a joint global stakeholder survey inviting stakeholders worldwide to participate in the survey. This is the first step in developing each board’s Strategy and Work Plan (SWP) for the 2028–2031 period. The survey is open until 15 May 2026.
Insolvency
The Institute is hosting three in-person sessions which will provide an introduction to 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.
The sessions will also cover compliance matters and will include potential issues and problems that can arise and how to avoid or best navigate these. It will also include some practical examples and a Q&A session.
The sessions are targeted at professionals taking on insolvency appointments and acting as Liquidator, and those training or working in the insolvency sector looking to gain expertise in this area.
Each of these three-hour sessions are free to attend and will take place on the following dates:
Sustainability
Accountancy Europe has issued two factsheets regarding the Omnibus Directive outlining the changes occurring following the amendments of the Corporate Sustainability Reporting Directive (CSRD) and Corporate Sustainability Due Diligence Directive (CSDDD). These two papers aim to provide stakeholders with an overview of the key changes to sustainability reporting and assurance thereon, as well as due diligence requirements across Europe.
Accountancy Europe has also issued its January 2026 Sustainability update.
The European Financial Reporting Advisory Group (EFRAG) has launched a series of three educational videos to support SMEs in complying with the VSME disclosure requirements. These videos will assist SMEs in understanding the supporting guides released in December 2025. For readers who are interested in learning more about the VSME standard, EFRAG are continuing to add new material to their VSME Ecosystem which contains useful guides, templates, videos and case studies.
EFRAG has also released a conference report from its conference “EFRAG unveils Draft Simplified ESRS: A European Milestone for Sustainability Reporting”. This includes recordings, slides and other conference materials.
The Financial Conduct Authority has issued a consultation ‘CP26/5: Aligning listed issuers’ sustainability disclosures with international standards’. This proposes to replace current climate‑disclosure rules with proportionate new requirements that align reporting with international standards, ensure investors receive clear, consistent and reliable information on sustainability risks and opportunities and improve transparency for overseas issuers while reducing unnecessary duplication. The consultation closes on Friday 20 March 2026.
The Department of Business and Trade (UK) (DBT) has published the outcome of its consultation on proposals for an oversight regime for assurance of sustainability-related financial disclosures. The UK government has stated that, in response to the feedback, it will move forward with plans to establish a voluntary, profession agnostic oversight regime for sustainability assurance in the UK. The FRC will be responsible for implementation and oversight, which in time, will be underpinned by legislation, and eligibility criteria will be developed, and guidance will be issued by them in due course. The register will be public, allowing registered practitioners to signal to the market they that have the relevant skills and experience for providing assurance services, as well as demonstrating their adherence to technical and ethical standards. The regime is designed for practitioners who primarily conduct sustainability assurance engagements to larger entities, typically those captured by the Companies Act, the UK Listing Rules (UKLRs), and the EU Corporate Sustainability Reporting Directive (CSRD).
The Institute of Chartered Accountants Scotland (ICAS) and Chartered Accountants Ireland are partnering to host a webinar on Thursday 12 March - ‘Carbon Border Adjustment Mechanism: What you need to know’. Learn how CBAM currently operates and what its implementation is revealing in practice. Register here to attend.
The European Commission updated its request to CEAOB on limited assurance sustainability standards asking the CEAOB to re-focus on the preparation of technical advice for the development of EU specific add-ons (and possible carve-outs) to ISSA 5000 to support the preparation of the Delegated Act adopting limited assurance sustainability standards.
IAASA has released a new episode of its Insights podcast on Ireland’s first year of CSRD reporting.
The Global Reporting Initiative (GRI) has released a new case study series entitled “ESG Reporting in Action”. This case study looks at how licensed tools and software are helping companies manage sustainability data.
GRI has also issued its quarterly standards update.
The International Sustainability Standards Board (ISSB) has issued its January 2026 update and podcast.
Anti-money laundering
The EU’s Anti-Money Laundering Authority (AMLA) announced that it will launch a data collection exercise to test and calibrate its risk assessment models for the financial sector. The exercise, set to start in March, is being conducted in close cooperation with national supervisors and the private sector. It represents a preparatory step towards AMLA’s direct supervision. The data collection will involve two groups of financial institutions including those that may be eligible for AMLA’s direct supervision, and a representative sample of entities likely to remain under national supervision.
The changes announced by the European Union regarding its high risk jurisdictions list in December 2025 entered into force on 29 January 2026. This list highlights jurisdictions identified as having strategic deficiencies in their AML/CFT regimes. Members are reminded that they are obliged to carefully consider business relationships and transactions involving high-risk third countries through increased customer due diligence checks and control measures.
The UK government’s sanctions list changed to a single list on Wednesday 28 January 2026. UK sanctions designations are now only detailed in the UK Sanctions List (UKSL), published by the Foreign, Commonwealth and Development Office. The Office of Financial Sanctions Implementation (OFSI) list has been withdrawn and is no longer in use. The UK government has published guidance for businesses and industry regarding this change.
AMLA published its Single Programming Document (SPD) for 2026-2028. This document outlines priorities and timelines as AMLA moves from foundation to delivery. It contains AMLA’s work programme, provides a roadmap for the market, and gives an overview of scheduled mandates for 2026 and AMLA’s strategic objectives. Several supporting documents have also been published including the associated press release, an explainer on the SPD, and the list of 2026 mandates.
Central Bank of Ireland (CBI)
The Central Bank of Ireland (CBI) published its Climate Observatory, which provides an annual update on climate-related financial and non-financial metrics using a combination of internal analytics and external data sources. It includes an evidence-based view of climate science, progress on decarbonisation, and evolving financial risks. The CBI has also published a summary of the report.
The CBI's Governor Gabriel Makhlouf published his latest Blog, which focuses on the role of the economics profession during times of major upheaval and how this affects the work of the CBI.
Artificial Intelligence (AI)
The Department of Enterprise, Tourism and Employment (DETE) published the General Scheme of the Regulation of Artificial Intelligence Bill 2026. The General Scheme includes details of the distributed model of competent authorities for the AI Act, which include leveraging established sectoral regulatory authorities. In addition, it includes a proposal to establish a new statutory independent body called the AI Office of Ireland, which will act as the Single Point of Contact and central coordinating authority for the implementation and enforcement of the EU AI Act in the State. The General Scheme also provides for the empowerment of Competent Authorities, and rules on penalties for infringement of the Act.
Cybersecurity
The NCSC in the UK published a blog regarding guidance and tools to support cloud security posture management (CSPM) which is a category of security tools designed to continuously monitor, assess and improve the security posture of cloud environments.
The European Union Agency for Cybersecurity (ENISA) recently published its Single Programming Document for 2026-2028. This document outlines areas including multiannual planning, ENISA’s work programme for 2026, and multiannual staff planning. In addition, ENISA also published its stakeholder strategy for 2026-2028.
Digital Operational Resilience Act (DORA)
The CBI published information regarding the upcoming submission for financial entities to submit registers of information (RoI) in relation to all contractual arrangements on the use of ICT services provided by ICT third-party service providers in accordance with DORA article 28(3). Financial entities are required to submit their RoI, with a reporting date as of 31 December 2025, to the CBI via the Central Bank Portal during the window of 2 March to 31 March 2026. The CBI also updated the DORA frequently asked questions on its website.
Financial returns for childcare core funding
Core Funding is a grant scheme provided directly to Early Learning and Childcare service providers administered by the Department of Children, Disability and Equality (the Department). Under the Core Funding Partner Service Agreement, all service providers that had an active core funding contract during the 1 September 2024 - 31 August 2025 programme year (Year 3) must engage a qualified professional accountant to submit a financial return.
The Department requires that these financial returns must be submitted by a qualified professional accountant. The accountant can be an employee of the provider (if certain conditions are met) or an independent qualified accountant who holds a practising certificate (PC) and professional indemnity insurance.
For the 2024/2025 programme year (Year 3), accountants will need to submit a trial balance prepared at site level using accruals-based accounting. Submission of the trial balance prepared using accruals-based accounting is a change for Year 3 given returns submitted in Years 1 and 2 used cash-based accounting.
The Department is currently finalising the www.cfcrrs.ie portal website and supporting guidance that will be used by accountants to submit the financial returns. It is planned that a trial balance section will be added to the portal and this section of the portal will need to be used by accountants for submitting the trial balance based on chart of accounts and nominal codes guidance issued by the Department. Chart of accounts and nominal codes guidance documents for Year 3 have been added to Department's Hive website.
The provisional date currently planned for making the portal available to accountants is end of February 2026 and it is planned that there will be a four-week window for accountants to submit the financial returns. Further information will be shared with members via the Chartered Accountants Ireland Audit and Assurance section of the Technical Hub in the coming weeks once all guidance documents have been finalised by the Department.
Other News
The Corporate Enforcement Authority (CEA) released a new podcast called 'Enforceable'. The 'Enforceable' podcast focuses on what company law is all about and why it's so important to the economy. The first episode features the Director of Legal and Policy, David Hegarty, talking about who the CEA is, and the interesting work that they do. The first episode is available on Spotify, Apple, Acast and Amazon.
The CEA also published its Strategy Statement for 2026 - 2028. The overarching focus of the Strategy, the CEA's second, is on increased impact and added value. The CEA proposes to achieve this overarching objective through three principal strategies, namely by optimising the delivery of effective enforcement, empowering stakeholders, and investing in CEA's employees.
The CEA has recently issued the February 2026 edition of the CEA newsletter giving updates on its activities and news of the last three months.
The UK's Information Commissioner's Office (ICO) published an update provided to the UK Government regarding progress towards commitments to boost the UK’s economy and foster economic growth setting out what the ICO is doing in 2026 to further enable growth across the UK.
The UK’s ICO published a statement regarding the next phase of the Data (Use and Access) Act (DUAA) implementation, commencing on 5 February 2026. This means that most of the remaining data protection provisions of the Act have come into force, except for the requirement for organisations to have a complaints procedure, which is due to commence on 19 June 2026 and some ICO governance provisions which will follow at a later date.
DETE published the General Scheme of the Data Bill 2025. The EU Regulation known as the Data Act (Regulation (EU) 2023/2854) came into force in EU law on 11 January 2024 and became fully applicable in member states on 12 September 2025. While many of the obligations apply directly, it is necessary to give effect to some of the Data Act’s provisions with national legislative measures. The General Scheme sets out how the Competition and Consumer Protection Commission (CCPC) and Commission for Communications Regulation (ComReg) are designated as competent authorities for the Data Act, and how they will execute their powers and functions under the Regulation. The CCPC is also designated as the ‘Data Coordinator’.
The European Commission updated its FAQ document regarding the EU Data Act.
Accountancy Europe responded to the European Commission's Call for Evidence on Better Regulation. The response focuses on the key principles needed for the EU’s better regulation agenda including evidence-based policymaking, proportionality and simplification including SME considerations, transparency, stakeholder engagement, and legal certainty.
The Pensions Authority has published the text of a speech made by the Pensions Regulator to the National Pensions Summit in January 2026. The speech covered the current pensions situation in Ireland in early 2026, the outlook and issues for pension and the Pensions Authority’s priorities and plans for the coming year.
For further technical information and updates please visit the Technical Hub on the Institute website.
This information is provided as resources and information only and nothing in the information purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the information. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of the information we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained herein.
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