Technical roundup 12 October

Oct 12, 2018

Developments of interest this week are set out below. 

Ireland

  • IAASA has published guidelines developed by the Committee of European Auditing Oversight Bodies (‘CEAOB’), of which IAASA is an active member, on monitoring the fee cap on non-audit services.  The guidelines can be accessed here.
  • IAASA has also announced speakers for its upcoming Brexit Breakfast Briefing, to be held on 24 October.  Details and information on booking attendance are available here.
  • The CRO has issued its latest newsletter.
 UK           
  • The Financial Reporting Council (FRC) has announced a strategic programme of work to ensure that audit better serves the public interest, including work on auditor independence, audit quality, the future needs of investors, and corporate viability.
  • The FRC has also issued comments on the Competition and Markets Authority’s review of the audit sector, and expressed its intention to work closely with the Authority as it carries out its study.  
  • The Prudential Regulatory Authority (PRA) has issued its Regulatory Digest covering September 2018.  The Digest is intended to provide information for those working in the UK financial services industry and sets out key regulatory news and publications delivered in the month. 

Europe

  • As noted above, the Committee of European Audit Oversight Bodies has issued guidelines on applying the fee cap on non-audit services.  The guidelines, also published in Ireland by IAASA, are available on the CEAOB website here, where information about the Committee’s work can also be viewed.   

International

  • The International Accounting Standards Board (IASB) has announced plans for its annual Research Forum, to be held in November 2018.  Details of the programme, which includes an analysis of IFRS disclosure requirements, can be viewed here.