Welcome to the latest edition of Technical Roundup.   In developments since the last edition, the final omnibus directive, which amends the audit directive, the accounting directive, the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD) has been published in the EU Official Journal. In the UK, the government has published the final UK Sustainability Reporting Standards (UK SRS) for voluntary use in the UK and are based on IFRS S1 and IFRS S2. The Corporate Enforcement Authority (CEA) has recently highlighted its Information Note on circumstances leading to disqualification under the Companies Act 2014 and the associated consequences.    Read more on these and other developments that may be of interest to members below.   Financial Reporting   In the fourth episode of its “IAASA Insights” podcast series, IAASA explore the key themes from their recent 2025 Corporate Reporting Observations Document. Themes covered are economic uncertainty and its impact on financial reporting, new sustainability reporting requirements under CSRD & ESRS, and financial reporting topics including financial instruments.  The International Accounting Standards Board (IASB) has issued its February 2026 update. The update covers preliminary decisions of the Board at its recent meeting on the following issues:  Financial Instruments with Characteristics of Equity   Post-implementation Review of IFRS 16 - Leases   Amortised Cost Measurement   Equity Method   Post-implementation Review of IFRS 9 -Hedge Accounting   Provisions  The IASB has issued some videos which explain the aims of the proposed Risk Mitigation Accounting model. These videos support the ongoing consultation which is open for comment until 31 July 2026.  The IASB has released a webcast to provide an overview of the upcoming standard IFRS 20 Regulatory Assets and Regulatory Liabilities. The new standard is expected to be issued in the second quarter of 2026 and will be effective for periods beginning on or after 1 January 2029.  The European Financial Reporting Advisory Group (EFRAG) has issued its final endorsement advice letter to the European Commission on the proposed EU adoption of Amendments to IAS 21 Translation to a Hyperinflationary Presentation Currency, and has recommended adoption of the amendments. In light of this, EFRAG has also updated its Endorsement Status Report.  EFRAG has issued a draft comment letter on the IASB's Exposure Draft ‘Amendments to the Fair Value Option for Investments in Associates and Joint Ventures- Proposed amendments to IAS 28’.   The UK Endorsement Board (UKEB) has published its draft comment letter on the same Exposure Draft and has also issued its updated Work Plan.  EFRAG has published the December 2025 and January 2026 update reports and podcasts. These summarise public technical discussions and decisions taken at EFRAG as well as open consultations, future events and vacancies.  Auditing and Assurance   The IAASB published an invite for stakeholders worldwide to participate in its public consultation survey as part of its post-implementation review of International Standard on Auditing (ISA) 540 (Revised), Auditing Accounting Estimates and Related Disclosures. The survey is open until 15 June 2026.  Accountancy Europe has published its March 2026 Audit Policy Update.  Insolvency   The Institute held three in-person events this week in Cork, Galway and Dublin. These well attended events provided a comprehensive overview of the Creditors Voluntary Liquidation Handbook  published last year to assist Liquidators in complying with legislative and Statement of Insolvency Practice (SIP)  requirements when conducting statutory meetings, reporting to creditors and approval of remuneration. The sessions also covered compliance matters and potential issues and problems that can arise and how to avoid or best navigate these. Sarah Jane O’Keeffe, Partner in Azets, and Derek Wilson, former inspector in the Institute presented at the events and provided attendees with great practical examples.   A recent High Court decision regarding the recognition and enforcement of an Individual Voluntary Agreement in Northern Ireland is noted as being significant in the post-Brexit landscape. This is a practical example of the development cross-border insolvency in Ireland. Philip Lee Solicitors have more information available here.   The Corporate Enforcement Authority (CEA) has recently highlighted its Information Note on circumstances leading to disqualification under the Companies Act 2014 and the associated consequences.  The Information Note is available to read in full here.    Sustainability   The final omnibus directive, which amends the audit directive, the accounting directive, the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD) has been published in the EU Official Journal. It will take effect 20 days after publication, with Member States required to transpose its provisions into national law within 12 months. The Department of Enterprise, Tourism and Employment will be responsible for transposing the Directive in Ireland.  The UK government has published the final UK Sustainability Reporting Standards (UK SRS) for voluntary use in the UK. The standards are based on IFRS S1 and IFRS S2.   The International Sustainability Standards Board (ISSB) has published a Jurisdictional Readiness Assessment Guide for the adoption or other use of ISSB Standards.  The International Sustainability Standards Board (ISSB) has released a podcast hosted by ISSB Chair Emmanuel Faber and ISSB Vice-Chair Sue Lloyd discussing the latest developments around the ISSB.  The Global Reporting Initiative (GRI) has published a report that analyses the pollution disclosure practices of 1,000 publicly listed companies across high-emitting sectors.  Accountancy Europe published a statement regarding the revised ESRS highlighting that stability is needed in the reporting ecosystem calling on the European Commission to keep the standard-setting process technical and avoid subjecting it to political pressures.  Accountancy Europe published a briefing paper regarding 'Preventing Greenwashing' and the importance of corporate ecosystem roles'. The publication highlights that mitigating greenwashing risks requires a systemic approach and examines how different actors in the corporate ecosystem (across the three lines of defence) can identify and mitigate greenwashing risks, clarifying how each contributes to safeguarding the integrity of sustainability disclosures.   The Department of Enterprise, Tourism and Employment (DETE) announced the findings of the second phase of SME Sustainability Research – Wave 2 noting that 85% of businesses say sustainability is important to their business on a day-to-day basis. DETE commissioned Amárach to conduct research among Irish SMEs in relation to sustainability and wider trends.  In its response to the public consultation of the Greenhouse Gas Protocol on the proposed changes to Scope 2 Guidance, the European Financial Reporting Advisory Group (EFRAG) has called for a balanced and cost effective approach to the proposed changes, whilst also raising some strong concerns regarding the complexity of some of the proposals.  EFRAG has released an updated version of the VSME digital template. The template now includes language support in Irish.  Anti-money laundering  The Financial Action Task Force (FATF) published its Annual Report 2024-2025 outlining the work by the FATF during the first year of the Mexican Presidency.  FATF published a 'Cyber-Enabled Fraud - Digitalisation and Money Laundering, Terrorist Financing and Proliferation Financing Risks' paper. The paper examines the evolving threat of cyber-enabled fraud and how jurisdictions can harness the FATF Standards to combat it. This is in the context of cyber-enabled fraud now being one of the most widespread and damaging profit-motivated forms of crime, generating large volumes of illicit proceeds through the exploitation of victims around the world.  The UK's HM Treasury has published guidance regarding Using digital identities with the Money Laundering Regulations - GOV.UK. This guidance has been created to provide information on how the UK digital verification services trust framework and the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (MLRs) interact. It is approved guidance for the purposes of compliance with the MLRs. The Using digital identities with the Money Laundering Regulations Guidance sets out how entities regulated under the Money Laundering Regulations can use digital verification services for customer due diligence checks.  The European Commission proposes new measures to prevent and counter terrorism. A factsheet was also published to support this proposal.  HM Treasury is collecting data from UK AML supervised firms to prepare for the UK’s upcoming FATF Mutual Evaluation and the update of the Proliferation Financing National Risk Assessment (PF NRA). Chartered Accountants Ireland encourages firms to take part. The survey closes on 31 March 2026. Chartered Accountants Ireland also published a recent news item regarding the FATF and Proliferation Financing Survey.  Central Bank of Ireland (CBI)  The CBI published its 'Regulatory and Supervisory Outlook (RSO)' report, which sets out its latest assessment of the risk landscape facing the financial sector and the supervisory work it will undertake in response. The report includes an overview of the global macro environment, major trends and drivers of risk, assessment of the key risks facing the entities regulated by the CBI, overarching supervisory priorities, and key areas of supervisory focus and planned activities for financial services' sectors. The RSO also features three articles addressing specific topics in more detail including a supervisory perspective on artificial intelligence, the importance of operational resilience in service provision, and the approach for supporting better outcomes for consumers and investors.  The CBI's Governor Gabriel Makhlouf published his latest blog 'Reflections on Building Resilience and Anchoring Stability'. The blog covers several areas including responding to change, strengthening resilience, access to cash and safeguarding a foundational service, the importance of the Central Bank's independence, and the CBI's 2026 work programme.  The CBI published its first quarterly access to cash report. The Finance (Provision of Access to Cash Infrastructure) Act 2025 has put in place a framework to ensure sufficient and effective access to cash across the State. The report uses newly collected data to show the number, location and opening hours of ATMs and cash service points across eight geographical regions in Ireland, as of 31 December 2025. The Minister for Finance set the access to cash criteria in November 2025. The Central Bank monitors whether these criteria are met. From July onwards, people can make a submission to the Central Bank if they believe there is a local deficiency in relation to access to cash.   Deputy Governor of the Central Bank of Ireland Colm Kincaid welcomed the publication of the OECD's Consumer Finance Risk Monitor 2026, which is a comprehensive global assessment examining consumer protection challenges across 60 international jurisdictions. The Consumer Finance Risk Monitor 2026 examines trends, issues, and risks across the banking and payments, consumer credit, insurance, investments, and pensions sectors. The 2026 report highlights that 85% of responding jurisdictions report that financial scams and frauds are a top risk facing consumers.  The CBI published details regarding the International Women’s Day event hosted by the European Central Bank (ECB) on 2 March 2026, where President Christine Lagarde and several guest speakers discussed the gender gap in financial literacy. The event also provided an opportunity to reflect on the progress made regarding the financial literacy commitments agreed upon by the President and central bank Governors in 2025, and to reinforce the importance of further coordinated action across the Eurosystem. During the event, the ECB, together with Central Bank of Ireland and other participating central banks, launched the “EuroSteps Walking Challenge”. For further details, please refer to CBI's 'EuroSteps Challenge for Financial Literacy' webpage.   The CBI published a Discussion Paper examining the potential role of Distributed Ledger Technology (DLT) and tokenisation in the financial system. An associated press release was also published regarding the discussion paper.  The CBI’s CP166 consultation regarding Prohibition Notices Under the Fitness and Probity Regime is currently open. The CBI is planning to provide additional guidance regarding Prohibition Notice procedures (the Supplemental Guidance) and is seeking stakeholders’ views regarding the Supplemental Guidance. The consultation closes on 25 March 2026. The CBI is hosting a webinar on 11 March which will provide an overview of CP166 Consultation on Prohibition Notices under the Fitness & Probity Regime.   Artificial Intelligence  The Department of Enterprise, Tourism and Employment announced that as part of the Presidency of the Council of the European Union 2026, Ireland will host the International AI Summit, opening European AI innovation Month, in partnership with the European Commission. This event, taking place on 14 October 2026 in Dublin, will bring together over a thousand EU & global leaders, Heads of Government, CEOs, investors, innovators and academics, under the theme: Enabling AI to Power European Growth.   Cybersecurity   The National Cyber Security Centre in the UK advises UK organisation to take action following conflict in the Middle East and is advising organisations to review their cyber security posture.  Internal Audit  The Chartered Institute of Internal Auditors (IIA) in the UK published a blog regarding 'What does professional judgement mean in practice?'. The blog highlights that professional judgement comes at the start of the internal audit process - when an internal audit plan is developed. It continues through the middle of the process – when the Internal Audit team identifies what is important and at the end of the process - when the Internal Audit team selects where and how to communicate conclusions and whether any challenge is needed.   The Chartered IIA in the UK released a survey regarding its ‘Risk in Focus 2026/27’ report. The survey is open to Chief Audit Executives (CAEs) and Heads of Internal Audit until 27 March 2026. This leading annual poll of CAEs across Europe identifies the top risks their organisations face as they prepare their audit plans for the year ahead.   Data Protection  The Data Protection Commission (DPC) published a statement welcoming the publication of the European Data Protection Board’s (EDPB) report on the implementation of its Coordinated Enforcement Framework (CEF) action on the right to be forgotten.  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 returns must be submitted by 31 March 2026. 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. Accountants linked to childcare service providers received a letter (attached) from the Department at the end of February outlining the steps to complete for submitting the financial returns. Please refer to the Chartered Accountants Ireland news item and a dedicated webpage for further details regarding financial returns for childcare core funding.  Other News  Minister for State for European Affairs [Thomas Byrne] strongly encourages eligible applicants to apply for the Communicating Europe Initiative to foster an ongoing nationwide conversation about the benefits of Ireland’s EU membership and the upcoming EU Presidency.  Communicating Europe Initiative grant applications opened by Minister McEntee and Minister Byrne.  The Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation, Jack Chambers, announced the establishment of a new Regulatory Simplification Unit to support faster delivery of critical infrastructure projects.   Accountancy Europe responded to the European Commission’s public consultation on professional qualifications for regulated and third country professions. Accountancy Europe noted in its response that it welcomes efforts to enhance transparency and digitalisation of qualifications across the EU, while stressing that quality, proportionality, and simplification must remain central to any future EU action.   The International Federation of Accountants (IFAC) released new global research analysing the rapid growth of private equity (PE) investment in professional accountancy firms and its potential implications for the future of the profession. The analysis includes thirteen key take-aways to help accountancy professionals understand, assess and guide PE investment decisions.  The Department of Enterprise, Tourism and Employment (DETE) and the Department of Foreign Affairs and Trade published the First Progress Report on the Government’s Action Plan on Market Diversification. A commitment was made to publish a progress report on the actions contained within the Government Action Plan on Market Diversification after six months (following the publication of the action plan in August 2025).   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.  

Our International Women’s Day celebration took place on Thursday (March 5) and brought together colleagues, speakers, and members for an inspiring and thought-provoking afternoon focused on empowerment, allyship, and wellbeing. Loretta Lee of CA Support opened the event with a powerful reflection on the charity’s long-standing commitment to supporting members, students, and their families during times of crisis. She spoke about CA Support’s roots as a fund that once primarily assisted widows at a time when women’s roles were centred in the home, and how it has evolved over nearly a century to meet the complex realities people face today. Loretta highlighted the ongoing financial vulnerabilities that disproportionately affect women, unstable work patterns, economic dependence, relationship breakdowns, financial coercion, and the pressures of single-income households. Through her work, she has seen first-hand how these challenges impact women managing childcare costs, household bills, debt, and unforeseen hardships. If you would like to donate to CA Support to help its work, you can do so here. Our keynote speaker, Cara Sothern, guided attendees through the concept of living an intuitive, grounded life amidst busy schedules. She explained the role of the parasympathetic nervous system in stress regulation and led an energising session that encouraged participants to quite literally “shake out” stress. Through practical breathwork exercises, she demonstrated simple techniques to calm the body, enhance clarity, and support resilience, tools everyone can integrate into their daily routines. Our panel featured a wide range of members who shared insights on this year’s theme, “Give to Gain,” emphasising the power of giving back, building allyship, fostering mentorship, and elevating others. Our panel consisted of: Sarah Murphy, Distribution Services Leader at PWC and Chair of the Chartered Accountants Ireland Leinster Society Loretta Lee, Finance Director at Workday and Chair of CA Support Bernard Byrne, Chair of Balance for Better Business Sarah McAleese, Risk Consulting Manager at KPMG and a member of Chartered Accountants Ireland Inclusion and Diversity committee Aine Spellacy, Executive Director at EY and Council Member of Chartered Accountants Ireland Each panellist shared some honest reflections about their personal career journey and spoke about the women, male leaders, and colleagues who supported and encouraged them along the way. Key insights from the panel included: Be brave enough to ask for what you want—opportunities often begin with a single courageous step. Give back by helping others start their journey, set goals, and recognise their own potential. Seize every opportunity, especially early in your career, to build confidence and broaden your experience. Look out for emerging talent and use leadership positions to open doors for others. The panel reinforced that uplifting one another is essential to advancing equality and strengthening our community. Our fireside conversation with Meabh Cahill and Rosemary Keogh explored leadership through the lens of Rosemary's personal experience. Rosemary spoke candidly about her early career journey and her experience as a CEO. Some of her shared honest reflections included: the loneliness that can come with senior leadership, the challenge of finding female role models, early in her career, the importance of telling your story and recognising your own worth, And the practical ways she manages pressure—coaching, Pilates, and building a support network. A central theme emerged from the conversation was confidence grows when you own your value, understand who you are, and advocate for yourself. The chat also emphasised the power of events like this to foster connection, representation, and vulnerability among peers. Attendees were encouraged to ask for help, check in with one another, and embrace the grounding that the CA qualification provides: a platform from which you can pursue any direction you choose. You can see photos from the event here.

On 3 March, the Ulster Society hosted a webinar on the topic of ESG, Green Loans and reporting requirements with Hannah McDaid and Katie Britton of our legal partner, A&L Goodbody. This webinar provided an update on the fast-evolving landscape of green loans, highlighting key legal developments and the principles driving the loan market. A&L Goodbody provided an overview of the reporting requirements for borrowers, external verification options for green projects, the distinction between green and sustainability-linked loans and the significance of qualitative vs quantitative indicators. We also considered the operational impacts on borrowers and included an overview of the regulatory and risk landscape. A recording of this webinar is available to view, for free and on demand HERE A copy of the slides used in the presentation is available HERE

Minister for Public Expenditure, Infrastructure, Public Service Reform and Digitalisation,  Jack Chambers TD, this week secured Government approval for the General Scheme of the long awaited Critical Infrastructure Bill.  The Bill, once enacted will allow Government, subject to Dáil approval, to designate specific infrastructure projects as critical. This would then oblige all State bodies involved in the approval process to cooperate and coordinate with each other.  At its core this legislation is designed to speed up the approval process for major pieces of national infrastructure. For far too long critical infrastructure projects have been delayed.A delayed project imposes a cost on the entire economy and as delays mount the cost of the entire project escalates.  The progress on this Bill follows the establishment last week of a Regulatory Simplification Unit by Minister Chambers. 

Earlier this week, the Institute made a submission to the Public Consultation on Northern Ireland’s upcoming Budget 2026. Northern Ireland’s competitiveness depends on an economy that attracts investment, supports entrepreneurs, enables cross-border labour mobility, and expands workforce participation through affordable childcare. Chartered Accountants Ireland urged the Executive to prioritise:  Progress on entrepreneurial tax supports childcare investment, Removal of barriers to cross border working, The activation and use of devolved powers on corporation tax, and Childcare investment.  These actions would increase productivity, stimulate job creation, and strengthen long term fiscal sustainability. Better tax supports for entrepreneurs Entrepreneurs are the backbone of any economy, creating wealth and employment throughout the country.  Entrepreneurs need supports specifically designed for them. Urgent action is needed by the UK Government to rectify the divergence between Northern Ireland and Great Britain in the context of forthcoming changes to the UK’s Tax Advantaged Venture Capital Schemes. Tax supports for entrepreneurs should not be limited to high growth companies but should be expanded to other businesses with a growth mission. A wider review of how the UK tax system can better drive business growth and harness the entrepreneurial spirit of business owners is warranted. Cross-border and remote/hybrid working on the island of Ireland Embracing a more integrated approach to cross border working would offer the opportunity to drive growth, build a more stable future for the entire island, and improve outcomes for communities and citizens in both jurisdictions.  The current rules on cross-border and remote/hybrid working are negatively impacting the all-island labour market. We urged the Executive to work with Treasury and the Irish Government to minimise administrative responsibilities for both employers and employees when a frontier worker works from home a few days a week. The Institute also highlighted the disparity in tax treatment of pension contributions and retirement income. Reduction to the Corporate Tax rate A reduced corporate tax rate in Northern Ireland would attract investment, create well paid, secure jobs, and encourage innovation and entrepreneurialism. The Institute called on the Department of Finance and the Department for the Economy to fund an economic analysis to assess the various impacts of a reduced corporate tax rate in Northern Ireland.  We also called on the Executive to urgently invest in and reform Invest NI to enable the agency to establish critical relationships in major companies and to adequately sell Northern Ireland as a destination for investment. Affordable childcare Affordable and available childcare can boost labour market participation and increase economic productivity. In our most recent research 51% of respondents in Northern Ireland confirmed they had either reduced their working hours or requested to work flexible hours because of childcare pressures. We called on the Executive and the Assembly to prioritise childcare investment in the upcoming Budget.  We welcomed the publication of the draft Early Learning and Childcare Strategy and encourage the Executive to implement the measures in it subject to budgetary constraints. 

Last week the Institute responded to the HM Treasury ‘Call for Evidence: Tax Supports for Entrepreneurs’, which was launched on Autumn Budget Day last November. We thank members for their feedback on this important issue. In our submission, the Institute highlights how the draft Finance (No. 2) Bill clauses implementing the Autumn Budget 2025 changes to the various limits for several of the UK’s tax advantaged venture capital schemes would exclude specified Northern Ireland (NI) companies due to EU State Aid rules. The submission also highlights that there is a need for a wider review of how the UK tax system could better support all entrepreneurs, and not just those investing in high growth companies. A specified NI company is currently defined in the Finance (No. 2) Bill as a company that has its registered office in NI which carries on a trade involving a trade in goods, or the generation, transmission, distribution, supply, wholesale trade, or cross-border exchange of electricity. As a result, these NI companies will be unable to benefit from the increased scheme limits from April 2026. This divergence in UK tax policy means that companies in NI who are excluded are being disadvantaged when seeking external finance compared to their competitors across the remainder of the UK for no objective reason other than their location. To level the playing field, the Government needs to take the necessary steps to resolve this issue and enable the April 2026 changes to apply to all companies in NI via discussions through the existing UK-EU structures which underpin the Windsor Framework, followed by an application for State Aid approval.

In Irish news, a delegation from the Institute recently met with the Department of Finance to discuss the Interest Review and Revenue has provided details of upcoming ROS updates. In UK news, the Institute has responded to HM Treasury’s Call for Evidence on Tax Supports for Entrepreneurs and this week’s miscellaneous updates highlights upcoming HMRC webinars. In International news this week, the European Commission has launched a public consultation on GBER. Ireland 1. Representatives from the Institute met last week with the Department of Finance to discuss our response to the Phase One Interest Review Feedback Statement.  2. Revenue has published details of planned ROS updates in March and April. UK 3. Read the Institute’s response to HM Treasury’s Call for Evidence on Tax Supports for Entrepreneurs. 4. This week’s miscellaneous updates include details of upcoming HMRC webinars. International 5. The European Commission has launched a public consultation on a draft new General Block Exemption Regulation (GBER). Keep up to date with all the latest Irish, UK, and international tax developments through Chartered Accountants Ireland’s Tax Newsletter. Subscribe to the Tax News by updating your preferences in MyAccount.    

In this extract from his book Networking Matters: The Power of Human Connection, author Kingsley Aikins explains the importance of relationships and trust in a changing world. Former British Prime Minister Harold Macmillan was once asked what he considered the greatest challenge for a statesman and replied, “Events, my dear boy, events.” In the past, people’s lives were more predictable. However, now we live in a rapidly changing business environment where technology and globalisation are wiping out whole industries, disruption is the norm, and networks are increasingly important. Professor Anne Marie Slaughter, the first woman to serve as Director of Policy Planning in the US Department of State, has written extensively on networking and stated: “The information age is over. We now live in the networked world. In the networked world, the measurement of power is connectedness. We are moving from the vertical world of hierarchies to the horizontal world of networks. The 20th century was a billiard ball world with countries colliding off each other in military and economic conflict. Now we live in an interconnected world. Key is centrality in a dense global web. In this world, the state with the most connections will be the central player able to set the global agenda, unlock innovation and sustainable growth. The global economy is increasingly driven by networked clusters of the world’s most creative people. Only the connected will survive. Networked power comes from the ability to make the maximum number of valuable connections. In the 21st century corporations, civic organisations and government agencies will increasingly operate by collecting the best ideas from around the world.” Disruption and change In today’s world of VUCA – volatility, uncertainty, complexity and ambiguity – technology is eliminating lower-skilled, entry-level jobs while steadily raising the skill level of new jobs. Creativity and innovation are replacing raw materials, labour and capital as the key source of economic value. We are seeing the emergence of stakeholder capitalism with issues such as climate change, sustainable development and economic inequality becoming factors in how companies see their role in and engage with the world. Impact investing and ESG (environmental, social and governance) issues are going mainstream.Arguably, artificial intelligence (AI) will be as transformative for us as the controlled use of fire for our ancestors and the impact will be enormous. New technologies, data and social networks are impacting how we communicate, collaborate and work. There is also an emerging awareness of the darker side of technology and a sense that global production and consumption systems are not fit for purpose. Change has always been with us but not at the same trajectory, pace and momentum. Trust in a changing world The technological changes will put a premium on relationships and trust. For centuries, we made things, but now 80% of work is in the service industry where relationships are paramount. In addition, the top-down, command-and-control structure is being replaced by teams of teams – circles are replacing pyramids – so interpersonal skills are critical. Also the traditional parental career advice – work hard, keep your head down, keep out of trouble and let your good work speak for itself – is wrong, and why? Because good work doesn’t speak – other people speak. In this new dynamic, employers want candidates to demonstrate their employability. They want well-rounded individuals who have shown their ability to learn new skills and openness to new ideas. They are hiring those with skills for today and those who will continuously gain new skills to make them relevant to future needs. This will come from a combination of academic study, volunteer work and sporting and social endeavours. The implications of these shifts are significant. There is less demand for obedient workers who will show up on time and follow directions. Now, the demand is for self-directed workers who can adapt and learn quickly, think critically and are strong communicators and innovators. “It is not the strongest of the species that survives or even the most intelligent but those most able to handle change.” Charles Darwin   In the networked economy, information and knowledge are no longer sufficient. Everyone has access to a multitude of content via the internet and you can’t compete with what everybody knows and has access to. As you progress up the corporate ladder, it becomes more difficult to compete on individual competency. The key, then, is not content but the context that comes from your network regarding comments, advice, views and opinions. As people become more dynamic and mobile in their careers, building a diverse web of relationships and community connections becomes more important. Leadership is becoming less about the corporate hero in the corner office and more about collaborative teams who work together and complement each other. Kingsley Aikins is founder of The Networking Institute. His new book, Networking Matters: The Power of Human Connection, is published by Chartered Accountants Ireland.

“THAT the profession of Public Accountants in Ireland is an important one, and their functions are of great and increasing importance” Royal Charter, 1888 On Thursday, 19 March we’ll celebrate the launch of Important Work: A History of Irish Chartered & Certified Public Accountants by Brenda Clerkin, Bríd Murphy, and Martin Quinn. Tracing the development of the profession from the late nineteenth century to today, the book explores its enduring impact on economic life, public trust, and social progress across the island of Ireland, and its publication marks the centenary of CPA Ireland. Read the Foreword to the book by Institute President Pamela McCreedy, in which she commends how the authors capture how professional accountants are integral to the economies, institutions and societies on the island of Ireland. FOREWORD As president of Chartered Accountants Ireland, it is my honour to write the foreword to this new history of the Irish accountancy profession, published to commemorate the 100th anniversary of the formation of CPA Ireland.  The book’s main title, Important Work, reflects the words and intentions of the petitioners for the Royal Charter of 1888, by which the Institute and the Irish accountancy profession was established, that “the profession of Public Accountants in Ireland is an important one, and their functions are of great and increasing importance”.  Important Work also resonates with the truth that runs through every chapter of this book: professional accountants have been and continue to be integral to the economies, institutions and societies on the island of Ireland. In a century and a half of change – political, economic, technological and regulatory – accountants have consistently shaped the conditions under which trust, transparency and public confidence can flourish. This book demonstrates not only what accountants have done, but why their contribution has always been, and continues to be, important work.  Beginning before the establishment of formal professional bodies, the book traces the evolution of accounting from its earliest manifestations in civic administration and industrial enterprise to the sophisticated, technology-enabled profession of today. Through periods of upheaval – war and revolution, partition, economic crises, globalisation, and most recently a worldwide pandemic – the Irish profession has consistently demonstrated resilience, adaptability and an unwavering commitment to the public interest. The stories of those who served during conflict, who guided businesses through volatility, or who modernised practice in the face of technological change are powerful reminders of the profession’s societal role. The authors also tell the extraordinary story of transformation of accountants’ work – from manual ledger keeping and early audit practice to the era of data analytics, artificial intelligence and non-financial reporting. Their account is enriched by vivid examples from professional practice, industry and public service, illustrating how the profession has continually adapted to changing needs, upholding its responsibilities as trusted advisors and business leaders. Accountants steered organisations through the trade disruptions of the 1930s, embraced new theories, practices and strategies in the economic modernisation of the 1960s and 1970s, managed seismic transitions such as decimalisation, EU membership, the financial crisis of 2008 and the COVID-19 pandemic. And the profession’s agility is particularly evident in its response to technological change. The 2024 amalgamation of Chartered Accountants Ireland and CPA Ireland is one of the most significant milestones in the profession’s history on the island and is discussed here for the first time in its historical context. It represents not an end but a new beginning: the creation of a unified, future-focused profession equipped to meet the challenges of a volatile global environment with a shared purpose and continued commitment to the public interest. To know where we are going, we must first understand where we came from, and this is one of the most valuable contributions of this history: it informs our thinking about the future of the profession. In the fifth and final chapter, we are grateful to the authors for helping us on our way. Their account of the future is informed by a powerful idea: the work of accountants has never been more vital, and its importance will only grow. In a world defined by volatility, complexity and profound technological disruption, accountants stand as trusted business leaders – professionals whose judgement, integrity and adaptability will determine the resilience of organisations and economies. Accountants are uniquely trained, skilled and experienced to help organisations make sense of uncertainty, allocate resources wisely and uphold trust at a time when trust is scarce. Important work, indeed. Pamela McCreedy, FCA FCPA President, Chartered Accountants Ireland Important Work: A History of Irish Chartered & Certified Public Accountants by Brenda Clerkin, Bríd Murphy, and Martin Quinn will be launched on Thursday, 19 March at 6pm at Chartered Accountants House, Dubin 2. Register to attend at https://www.charteredaccountants.ie/Meetings/Meeting.aspx?ID=56879

Chartered Accountants Ireland has reacted to today’s Spring Forecast by urging the UK Government to address the tax barriers that are hampering business growth. The Institute is highlighting the urgent need for UK business tax policy to be revamped so that economic growth is stimulated, the tax system is simplified, and the burden of tax on entrepreneurial investments is reduced.  These recommendations formed the basis of the Institute’s response to HM Treasury’s Call for Evidence on Tax Supports for Entrepreneurs which closed last week. Chartered Accountants Ireland is the largest professional body on the island of Ireland and represents over 5,500 members in Northern Ireland.  UK Tax Manager with Chartered Accountants Ireland, Leontia Doran said   “As expected, today’s Spring Forecast contained no tax policy changes, however the Government cannot stand still in harnessing the talents and skills of the entrepreneurs and small businesses that are the heartbeat of the UK economy.  “In recent years, entrepreneurs have seen the value of their business eroded with higher taxes and employment costs. This leaves less money available to invest back into those businesses for their growth mission. For those selling their business, higher exit taxes means that there is less in their pocket for them to reinvest in other businesses. This will be further compounded by tax rises due to take effect from next month, including the reduced benefit of key Inheritance Tax reliefs.  “The Government recently consulted on how it can better support those investing in high growth companies. We urge the Government to launch a wider review of how the UK tax system can truly deliver a strategic long-term plan for entrepreneurial growth and investment.”    Northern Ireland businesses excluded from improved finance options from April 2026  In the 2025 Autumn Budget, the UK Government announced a series of increases to take effect from April 2026 to several of the UK’s venture capital schemes that provide smaller companies with access to finance and which provide a range of beneficial tax reliefs to the equity investor making these riskier investments.  However, the draft legislation for these changes means that certain Northern Ireland companies will not be able to take advantage of the increased thresholds for these finance schemes.  Doran noted  “We are concerned that the regional impact of UK tax policy has been ignored when it comes to Northern Ireland. For EU State Aid reasons, the Finance Bill specifically excludes Northern Ireland companies who trade in goods or electricity from benefiting from the increased limits which will be available when seeking external finance.  “This divergence in UK tax policy places these companies at a competitive disadvantage compared to similar businesses across the rest of the UK for no reason other than their location. This further hampers their growth and ultimately that of the wider economy.  “The Government needs to begin discussions on this issue as soon as possible via the existing UK-EU structures that underpin the Windsor Framework. This will likely require an application for State Aid approval.”   Northern Ireland Corporation Tax rate reduction  Specific policy measures are still needed to unlock Northern Ireland’s economic potential and its dual market access. As part of this, in 2026 the Institute has continued its campaign for a reduced rate of corporation tax more closely aligned with that across the rest of the island.   Cróna Clohisey, Director of Members and Advocacy, Chartered Accountants Ireland said  "The Chancellor spoke today about economic growth for all parts of the UK. Reducing the corporation tax rate for NI would grow the NI economy and ultimately increase the overall tax take from businesses and employees by attracting higher value FDI, which would support the creation of better jobs and opportunities for all businesses and citizens. Ireland’s successful industrial strategy was not the result of a single policy decision and certainly did not start with a big leap. That vision persisted and grew over the long term. We believe that Northern Ireland now needs that same clarity of purpose — and we call on the UK Government to share and support that vision.   “In the longer term, the gains for Northern Ireland would set a real benchmark for what can be achieved with ambitious tax policies. This is something that we know our members want and which we continue to advocate for in 2026.”   

HM Treasury is collecting data from UK AML supervised firms to prepare for the UK’s upcoming Financial Action Task Force (FATF) Mutual Evaluation and the update of the Proliferation Financing National Risk Assessment (PF NRA). We encourage firms to take part. The survey closes on 31 March 2026. This survey is collecting input from firms to support two initiatives: 1. FATF Mutual Evaluation of the United Kingdom The Financial Action Task Force (FATF) is the global standard-setter for combating money laundering, terrorist financing, and proliferation financing. FATF conducts periodic Mutual Evaluations (MEs) of member countries to assess both technical compliance with FATF Recommendations and the effectiveness of measures in practice. The United Kingdom’s next FATF Mutual Evaluation will commence in late 2026. This assessment will evaluate the UK’s compliance with the FATF’s 40 recommendations and the UK’s effectiveness in achieving the required Immediate Outcomes (IOs). HM Treasury is coordinating the UK’s preparation for this evaluation. Two of the outcomes—IO10 and IO11—specifically measure the UK’s ability to implement UN-mandated targeted financial sanctions, related to terrorist financing (TF) and proliferation financing (PF) respectively. The first part of this survey will ask IO10 and IO11 related questions and help inform the UK’s submissions to the FATF. 2. Update of the UK Proliferation Financing National Risk Assessment (PF NRA) HM Treasury is currently updating the UK’s PF NRA to identify PF risks and typologies across sectors and strengthen the UK’s response. Your input to the second part of this survey will help ensure the PF NRA reflects real-world risks and challenges faced by firms. Confidentiality and Use of Responses All responses will be treated in confidence and used solely for the two initiatives: · FATF Mutual Evaluation: Responses will form part of the evidence base for the UK’s submission to FATF assessors, demonstrating the effectiveness of UK firms’ implementation of UN-mandated targeted financial sanctions for TF and PF. · PF National Risk Assessment: Responses to the PF NRA section will inform HM Treasury’s analysis and conclusions in its forthcoming Proliferation Financing National Risk Assessment publication. In both outputs, all information provided through this survey will be aggregated and anonymised, and will not be attributable to any specific firm An outline of the survey is provided to  help you prepare your responses before submission. Closing date is 31 March 2026. To take part please click here.  

Tues 10 March 12.30pm - 1.30pm Free We are delighted to announce our second Expert Series session of the year. Join us and Eugene Nel, Partner, Capital Markets & Accounting Advisory Services, PwC, on Tuesday 10 March.