Professional Standards

What we do

The Professional Standards Department of Chartered Accountants Ireland, along with relevant compliance and disciplinary committees, is responsible for the delivery of the Institute's regulatory and disciplinary obligations which derive both from statute and its own Bye-Laws and Regulations.
The Professional Standards Board develops Institute Policy with regard to regulatory matters and approves Institute Regulations governing regulation and discipline. It also oversees PSD in its delivery of the Institute’s regulatory and disciplinary functions.

Latest news

Professional Standards

Insolvency Monitoring - Common findings from RoI Visits The Professional Standards Department is hosting two Insolvency related CPD online webinars.   The first online webinar, ‘Insolvency Monitoring - Common findings from RoI Visits’, scheduled for 16 November at 12:00 – 13:00, will focus on the common findings and issues identified during insolvency monitoring visits, which regularly feature in visit reports issued after each visit.  You can register, free of charge, by clicking here. The second online webinar, ‘Insolvency Monitoring - Findings with remuneration approval procedures’, scheduled for 14 December at 12:00 – 13:00, will focus on how to ensure remuneration approval is obtained correctly in accordance with the current legislation and Statement of Insolvency Practice S9B. You can register, free of charge, by clicking here. These webinars are hosted by Professional Standards and are both free of charge.  They are designed for all Insolvency Practising Certificate (IPC) Holders and aim to help prepare for future visits and to give practical advice on the most common areas of weakness found during insolvency visits. We would encourage all IPC holders to attend both webinars as practical updates to processes and procedures will be covered to ensure full compliance with legislation, regulations and SIPs moving forward. Members can claim 1 hour structured CPD per webinar

Oct 22, 2020
Professional Standards

Your Individual Annual Return 2020 is available for completion online.  Please be reminded that this is due to be submitted by 30 October 2020.Click here for your Individual Annual Return.We appreciate that this is a difficult period for members due to the Coronavirus and that members will be prioritising matters differently than they would in normal times. If unable to meet this timescale please contact Individual Annual Return.

Oct 12, 2020
Professional Standards

The UK Government has announced its intention to use the power in the Corporate Insolvency and Governance Act 2020 to require independent scrutiny of pre-pack sales in administration to connected parties. The Pre-Pack Sales in Administration Report sets out the findings and recommendations of a review of pre-packs carried out by Government primarily focussing on whether or not to regulate or ban sales in administrations to connected persons. Published with this report are the draft regulations , which Government intends to lay before Parliament. A summary of the proposed regulatory framework is set out below: The regulations will apply where there is a disposal in administration of all or a substantial part of a company’s assets. An administrator will be unable to dispose of property of a company to a person connected with the company within the first eight weeks of the administration without either the approval of creditors or an independent written opinion. The connected party purchaser will be required to obtain the written opinion. The provider of the opinion must be independent of the connected party purchaser, the company and the administrator and must meet certain eligibility requirements. The administrator must have no reason to believe that the opinion provider is not independent of the connected party or does not meet the eligibility requirements. The opinion provider will provide a written report to state that either the case is made for the disposal or that the case is not made. A connected party purchaser may obtain more than one report. An administrator must consider a report from an opinion provider. Where a report states that the case is not made for the disposal, an administrator can still proceed with the disposal but will be required to provide a statement setting out the reasons for doing so. An administrator will be required to send a copy of the report(s) to creditors of the company and to Companies House.

Oct 12, 2020