EU Commissioner for Democracy, Justice, the Rule of Law and Consumer Protection Michael McGrath has confirmed that the long awaited 28th Regime or ‘EU Inc’ proposals will be published next week. EU Inc. will be a new EU-wide legal framework designed to make it easier to set up, scale up and invest across the Single Market. It will provide an alternative to the complex and differing regulations faced by businesses that want to expand across different Member States. The ambition is that a company can be established using a fully digital platform within 48 hours, and it will be recognised throughout the European Union. There will be a common rulebook that will simplify business operations across the EU Single Market and boost competitiveness. With 450 million people, the Single Market is the world’s largest trading bloc. For Irish companies wishing to expand into other Member States, this legislation will reduce the burdensome administration costs and enable easier access to the European Market. Commissioner McGrath has set four distinct objectives from these proposals: The ability to register and establish a company cheaper, faster and digitally that is recognised in each Member State; EU Inc will provide for adaptable, flexible and future-ready governance tools; Companies will find it easier to attract and retain talent; Access to investment will be boosted. In September last year, Chartered Accountants Ireland responded to a call for evidence from the Commission on the 28th Regime. There will be a further public consultation on these proposals once they are announced and Chartered Accountants Ireland will engage in that process to ensure the final proposals adopted by the EU will fulfil the ambitions and objectives set out previously. The proposals are set to be launched next week, and the Institute will keep you informed of developments.

Chartered Accountants Ireland is issuing 'Guidance for audit evidence and documentation' to members in practice carrying out audits (in Ireland, Northern Ireland, and the UK) for this busy season. This guidance is based on common issues arising on audit monitoring visits and will support members with understanding requirements when it comes to gathering sufficient appropriate (relevant and reliable) evidence to support financial statement balances, transactions, and disclosures that are assessed as material during the audit. This is to ensure compliance with International Standards on Auditing (ISA) 230 Audit Documentation and ISA 500 Audit Evidence. This guidance is not designed to cover all audit documentation and audit evidence areas given it’s based on common themes arising during audit monitoring visits. The focus of the guidance is on the ISAs and does not include requirements regarding Irish and UK law. Members should note that this guidance is not mandatory and should not be a substitute for reading the ISAs. The guidance covers areas including: International Standard on Quality Management (ISQM) 1 Risk assessments at the engagement level Evidence and documentation regarding accounting estimates and going concern Auditing contract management activities Group audit documentation Considerations for regulated audit clients Fraud considerations Financial reporting areas to consider during audits Interpretation of small companies' exemption rules For further details, members should refer to the attached 'Guidance for audit evidence and documentation'.    This information is provided as resources and information only and nothing in these pages 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 pages. 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 these pages, 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 in these pages.

In this extract from Important Work: A History of Irish Chartered & Certified Public Accountants, authors Brenda Clerkin, Bríd Murphy and Martin Quinn reflect on the place of trust and accountability in modern accounting, where complex technologies such as AI play an increasing role, and how this affects the future of the profession. Trust has always formed the bedrock of professional accountancy. Yet, public confidence in the profession has periodically been shaken by corporate scandals, audit failures and the global financial crisis. In this context, the rise of AI and advanced analytical tools presents both a chal¬lenge and an opportunity. Paradoxically, if embraced strategically, these technologies may strengthen rather than erode trust in the profession. As machines take over routine, data-heavy tasks, accountants will increasingly be judged on how they handle exceptions, escalations, risk judgements, anomaly detection and interpretative insights. Their role will evolve from data processors to ‘sense-checkers’ of machine outputs – providing assurance that algorithmic systems (including AI) are properly built, tested, validated and free from bias. In this capacity, the accountant becomes a ‘data guardian’ or ‘model reviewer’, ensuring that AI oper¬ates under sound professional oversight. With automation handling the minutiae, human professionals can focus on higher-value work: exercising judgement, evaluating risk, interpreting scenarios and prioritising what truly matters to clients. However, the integration of AI also introduces new layers of ethical and governance complexity. Bias, fairness, interpretability and account¬ability become central concerns. A misclassified fraud or a flawed predictive model can expose organisations to severe reputational and regulatory risks. To manage these challenges, accountants must develop strong capabilities in ethics, transparency, explainable AI, and technology governance. The profession must therefore make ‘ethics + technology governance’ a core pillar of education and continuous development. Beyond internal capability, accountants must engage with regulators and legislators to help shape emerging standards for algorithmic financial reporting, AI auditing and oversight – ensuring that technology serves the public interest rather than undermines it. Conclusions on the direction of the profession In the coming years and decades, the accountancy profession in Ireland must evolve from being a labour-intensive, compliance-driven practice into a forward-looking, insight-led, trust-based profession. Technology – AI, automation, data analytics, cloud computing, blockchain – will do much of the mechanical work. But the real value will reside in human judgement, ethical leadership, strategic advisory capacity, risk oversight, domain expertise, client and stakeholder relationships and the govern¬ance of technology. To succeed, the profession must attract, retain and motivate talent by offering meaningful work, flexibility, diversification and personal devel¬opment. It must revamp education and CPD to build capacity for the ever-changing demands on the profession. It must shed stereotypes of long hours and drudgery, and project a more modern, purpose-driven brand. And, crucially, it must anchor all of this on trust – assuring clients, regulators and the public that even in an AI-driven world, the human professional remains the conscience, the overseer and the guarantor of integrity. Important Work: A History of Irish Chartered & Certified Public Accountants will be launched on Thursday, 19 March at 6pm at Chartered Accountants House, Dubin 2. You can order a copy of the book in our bookshop. You can register to attend the event which will feature addresses by author Martin Quinn, Institute President Pamela McCreedy and a keynote address by Professor of Economics at the University of Limerick, Professor Stephen Kinsella.

  This week’s Sustainability/ESG bulletin highlights Ireland’s gender pay and digital skills gaps and their impact on competitiveness, alongside new requirements for centralised pay gap reporting. Also included are updates on the Government’s actions on energy security, offshore wind, expanded zero‑emission HDV grants, and the introduction of the EU’s ESAP portal to support SME finance. The Green Economy reached €12.1bn output in 2023, with emissions intensity falling. Also covered are EU clean‑energy measures, greenwashing guidance, technical updates, key articles, and upcoming sustainability events. IRELAND SMEs and sustainable finance Tánaiste and Minister of Finance, Simon Harris, has signed into law the Statutory Instruments creating the Irish framework of the European Single Access Point (ESAP), an EU-wide data portal centralising free source of public information about EU companies and investment products. Read more. Gender pay gap consequences for Ireland’s competitiveness, innovation and resilience Minister for Children, Disability and Equality Norma Foley has urged employers to publish their gender pay gap reports, pointing to new research showing how a gender pay gap is evident in the early stages of young women’s careers. A gender skills gap has also been a priority area for certain sectors across Europe, with research published by the ESRI and European Parliament. Read more. Energy security and competitiveness developments The Department of Climate, Energy and the Environment (DCEE) has convened a meeting of the Government's Energy Security Group to assess the current implications of the conflict in the Middle East and Gulf region; however, commentators argue that the crisis in the Middle East exposes over-reliance on fossil fuels, particularly LNG as a liability for Ireland, and call for investment in household energy security and clean energy alternatives. Read more. Government expands zero emission HDV grants for Irish logistics sector Irish businesses are set to benefit from expanded Government support to help cut costs and accelerate the move to zero-emission transport. Read more. Gross Output of Ireland’s ‘Green Economy’ €12.1 billion in 2023 The Gross Output of the Green Economy was €12.1 billion in 2023, up 10 percent on 2022, according to figures released by the CSO office. Meanwhile, a separate publication revealed that Ireland’s economy is becoming less emissions-intensive and is producing fewer greenhouse gas emissions per unit of economic activity. Read more. ISIF invests €140m in new climate action fund The Ireland Strategic Investment Fund (ISIF), part of the National Treasury Management Agency (NTMA), has announced it will commit up to €140m as a cornerstone investor in a major new climate action fund. Read more. NORTHERN IRELAND/UK Urgent call for action as rising oil and gas costs hit households and businesses Economy Minister Dr Caoimhe Archibald has written to the British Government warning that the rapid rise in global oil and natural gas prices is now placing significant pressure on households and businesses across the north. It comes as consumers using heating oil saw prices rise over 80 percent in less than a week. The Minister’s call for action builds on her engagement last week with her Irish and British Government counterparts, business, consumer, and industry stakeholders, on the stark price rises in petrol, diesel and heating oil. The call was made only five days after a report was published detailing the percentage  of electricity consumption in the region generated from renewable sources. The report found that the volume of renewable electricity generated in the year to December 2025 was equivalent to 47 percent of gross final electricity consumption compared to 44 percent in the previous period, of which the majority (72 percent) was from wind. EUROPE Commission presents measures to increase EU's energy independence and affordability The European Commission has presented a package of initiatives designed to boost investment in homegrown clean energy solutions, increase resilience and reduce energy prices. Delivering on the Affordable Energy Action Plan which was adopted in February 2025 to strengthen Europe's competitiveness, reduce energy dependencies and increase affordability for households, the package comprises: a Clean Energy Investment Strategy to help bridge the gap between the private capital currently available and the investments needed, de-risking projects and mobilising private finance for grids, innovative clean energy technologies and energy efficiency. a Citizens Energy Package to reduce energy bills, empower citizens to produce and share their own clean energy and fight against energy poverty a Strategy for Small Modular Reactors (SMRs) to reduce import dependencies and ensure strategic autonomy by enabling EU Member States pursuing this technology accelerate their development and deployment. The Commission will present further measures in due course. Accountancy Europe on the EU sustainable reporting ecosystem and greenwashing Accountancy Europe has called for stability in the EU sustainability reporting ecosystem, as the European Commission drafts and ultimately adopts the Delegated Act on Revised ESRS. Calling for the EC to “keep the standard-setting process technical and avoid subjecting it to political pressures” Accountancy Europe advises the Commission to refrain from further diluting the standards or reopening technical elements, which it warns would undermine the due process the Draft Revised ESRS went through at EFRAG level. Separately, Accountancy Europe’s new publication Trust and integrity: the role of corporate ecosystem actors in preventing greenwashing demonstrates that mitigating greenwashing risks requires a systemic approach. The publication 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. “Sustainability information is key to capital allocation and stakeholder decision-making and demand for it will persist. With lighter regulation due to the latest changes under the ‘simplification agenda’, ensuring good governance and clarifying the roles of corporate ecosystem actors is more important than ever.” RESOURCES Technical Roundup (from our colleagues in Professional Accounting)  The International Sustainability Standards Board (ISSB) has published:  a Jurisdictional Readiness Assessment Guide for the adoption or other use of ISSB Standards a podcast  on the latest developments around the ISSB.  EFRAG has called for a balanced and cost effective approach to the proposed changes to Scope 2 Guidance in its response to the public consultation of the Greenhouse Gas Protocol, while also raising some strong concerns regarding the complexity of some of the proposals. EFRAG has  also released an updated version of the VSME digital template, which includes language support in Irish.  ARTICLES Sustainability isn’t dead. It’s a commercial risk (Business Post) "A Quiet Momentum" - Trends of Sustainability in Business for 2026 (IBEC) More than half a million car journeys avoided every day in Dublin by walking and cycling (The Journal) Why it makes sense for women to work for women (Financial Times) Women represent 40pc of board member positions in Irish companies (Irish Independent) Pension gender gap would see women working 10 extra years (Irish Examiner) “A real opportunity to level-set pay gaps”: Employers face new EU salary transparency rules (The Currency) After years of pay gap reporting, what do we know? (Financial Times) New law to fast-track infrastructure will ‘benefit businesses’ (Business Post) EVENTS Dublin Chamber, SustainableSolutions Match 2026 In conjunction with the Enterprise Europe Network, Dublin Chamber is running free online events to exchange ideas, discover innovations, and connect with partners who share the same ambition: building a more sustainable and circular European economy. Whether you’re a company searching for practical sustainability solutions or an innovator ready to showcase your ideas, this event is where collaboration turns into action. 🌍 Opening Session 16 March | 💡 Online Pitching Sessions 16-24 March | 🤝 Online B2B Meetings 16-27 March   Enterprise Ireland, Sustainability Kickstarter Workshops A half‑day workshop series designed to support business leaders in recognising the strategic importance of sustainability and decarbonisation. The sessions provide practical skills to integrate core sustainability principles, identify competitive opportunities, and build actionable plans to meet rising customer expectations for sustainable products and services. Workshops | Dates & Times • Friday, 20 March 2026 | Half‑day workshop • Friday, 17 April 2026 | Half‑day workshop • Friday, 8 May 2026 | Half‑day workshop   Goodbody Clearstream From Strategy to Supplier Performance: Making EcoVadis Work for Your Organisation  Join this webinar to explore how EcoVadis is being used by organisations to strengthen their sustainability performance and meet growing expectations. We’ll begin with a clear introduction to the EcoVadis Scorecard and IQ Plus tools and hear directly from businesses that are using EcoVadis today. Through their experiences, you’ll gain valuable perspective on implementation timelines, internal engagement, challenges faced, and the business benefits achieved. Whether you’re new to EcoVadis or looking to better understand its role in supply chain and sustainability management, this session will provide practical insight into how the platform supports continuous improvement and risk management. Virtual | Thursday, 26 March |12:30pm – 1:15pm   SEAI, SEAI Energy Show 2026 The SEAI Energy Show is a business-to-business event where you can learn about the latest developments in energy efficiency and renewable energy. In person, RDS, Main Arena, Merrion Rd, Ballsbridge, Dublin 4, D04 AK83, 22nd - 23rd March 2026 Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.

  The Ireland Strategic Investment Fund (ISIF), part of the National Treasury Management Agency (NTMA), has announced it will commit up to €140m as a cornerstone investor in a major new climate action fund. The fund has been set up by TirNua Capital Partners (TirNua), an independent, employee-managed private markets investment manager. ISIF has led the investment round in TirNua’s climate action infrastructure fund to accelerate its €2bn climate action investment programme and to continue to act as a catalyst for leveraging additional co-investment from other investors into Irish businesses and projects. Commenting David O’Brien, TirNua CEO described the fund as “a first-of-its-kind private markets platform focused on Ireland’s energy transition […] represent[ing] an exciting new way for investors to channel long-term capital into the projects that have the potential to positively shape Ireland’s future.” Back to the Sustainability/ESG Bulletin

  The Gross Output of the Green Economy was €12.1 billion in 2023, up 10 percent on 2022, according to figures released by the CSO office in their Business in Ireland 2023 – Green Economy. The release, which provides insights on activities that can be classified by their environmental purpose and the business sectors in which they take place, found that the increase was mainly driven by the increased output of the Energy sector. Green Economy statistics are part of environment accounts which constitute a satellite account to national accounts. The release also revealed that the Green Economy represented €5 billion of Gross Value Added (GVA) to the country and supported 48,400 Full-Time Equivalent (FTE) jobs, up 13 percent on 2022. The Industry sector generated €10.2 billion in Green Economy output, up €0.6 billion on 2022 and accounting for 84 percent of total Green Economy output. Within this, construction contributed €3.1 billion (31 percent) underlining its role in delivering environmentally focused infrastructure projects. A separate publication revealed that emissions from the enterprise economy have fallen 12 percent since 2018, notwithstanding strong economic growth. Business In Ireland 2025 - Emissions and Energy Use by Enterprises is the first in a series of releases that looks at data relating to the enterprise economy through the lens of sustainability and climate targets. In the publication, ‘enterprise economy’ refers to activity in the Industry (including Construction) and Services sectors in Ireland. The release revealed that Ireland’s economy is becoming less emissions-intensive and is producing fewer greenhouse gas emissions per unit of economic activity. Greenhouse gas emissions per euro of Modified Gross National Income (GNI) fell by 25 percent between 2018 and 2023.   Commenting on the release, Morgan O’Donnell, Statistician in the Sustainability, Circular Economy & Transport division said:  “Sustainability is of increasing importance to enterprises, in terms of meeting environmental regulations and expectations, but also from an economic and social perspective. There is increasing national and international recognition that economic growth alone is not a sufficient measure of success, and that long term prosperity depends on achieving a balanced integration of economic, environmental, and social outcomes. … This release looks at energy use by the enterprise economy, as it underpins productivity, competitiveness, and employment, while also contributing to greenhouse gas emissions.  By examining energy consumption alongside associated emissions, this release highlights the relationship between business activity and its environmental impact, addressing the dual national goals of sustaining economic activity while reducing emissions.” Back to the Sustainability/ESG Bulletin

  Irish businesses are set to benefit from expanded Government support to help cut costs and accelerate the move to zero-emission transport. Changes to the Zero Emission Heavy Duty Vehicle (ZEHDV) grant scheme will make it easier and more flexible for companies to invest in electric trucks and buses, with grants of up to €500,000 per year now available. Speaking at an industry working group event, the Minister of State for International and Road Transport, Logistics, Rails and Ports, Sean Canney TD described decarbonising transport “a national priority but […] also a major commercial opportunity”. The updated scheme allows businesses to phase investment over time, rather than relying on a one-off funding opportunity, helping companies manage cash flow while modernising their fleets. Alongside the vehicle purchase support, businesses can also access grants of up to €300,000 under the Zero Emission Vehicle Infrastructure Grant Scheme (ZEHDV-I) to install depot charging infrastructure and support charging logistics hubs and urban locations. The Government is also supporting businesses at the planning stage through the EV Fleet Assessment Grant, which offers fully funded expert assessment to help companies understand how electric vehicles can operate within their existing fleets. Assessments cover routes, vehicle suitability, charging needs and total cost of ownership providing a clear roadmap to electrification. Separately, Minister of Transport Darragh O’Brien TD has announced the launch of a public consultation on the draft National EV Charging Infrastructure Strategy 2026-2028, setting out the next phase of Ireland’s plan to expand and future proof the national EV charging network. Businesses, members of the public, local authorities, representative organisations and community groups are invited to make submissions as part of the consultation process, by 5pm on 24 April 2026. Back to the Sustainability/ESG Bulletin

  The Department of Climate, Energy and the Environment (DCEE) has convened a meeting of the Government's Energy Security Group to assess the current implications of the conflict in the Middle East and Gulf region. The meeting brought together senior officials from relevant government departments, state agencies, and regulators and reviewed current supply and pricing conditions across oil, gas and electricity, and assessed the local impacts arising from the evolving situation. The group reiterated International Energy Agency (IEA) updates that while oil prices continue to fluctuate, there has been some stabilisation; however, commentators argue that the crisis in the Middle East exposes over-reliance on fossil fuels, particularly LNG as a liability for Ireland, and call for investment in household energy security and clean energy alternatives. Separately, Enterprise Ireland has announced the launch of Propel Ireland, a new innovation centre designed to drive collaboration, innovation and supply chain development across Ireland’s offshore wind sector. Representing a key action under Powering Prosperity: Ireland’s Offshore Wind Industrial Strategy, Propel Ireland supports the development of a globally competitive offshore wind industry and positioning Irish companies to capitalise on significant domestic and international opportunities.  Its launch reflects a coordinated, cross-Government approach to developing Ireland’s offshore wind sector, aligned with national climate, energy and enterprise policy. Back to the Sustainability/ESG Bulletin

Minister for Children, Disability and Equality Norma Foley has urged employers to publish their gender pay gap reports, pointing to new research showing how a gender pay gap is evident in the early stages of young women’s careers. A gender skills gap has also been a priority area for certain sectors across Europe. Research published in February 2026 by the ESRI found that Ireland has the largest gender gap in Europe for advanced workplace digital skills use, with consequences for Ireland’s competitiveness, innovation and resilience. A report published on 11 March by the European Parliament similarly argued that improving the labour market participation and working conditions of women could help address skills and labour shortages and improve the EU’s productivity and growth. This echoes comments from Minister for Enterprise, Tourism and Employment, Peter Burke TD in the Foreword to the Eighth Report from the independent business-led Review Group Balance for Better Business (B4BB), published in November 2025: “For Ireland to remain competitive in the global market it is vital that we see this progress continue, as we know that the companies with the greatest gender diversity tend to be the best performing, more innovative and more resilient.” The Gender Pay Gap Information Act 2021 introduced the legislative basis for annual gender pay gap reporting in Ireland. Since 2024, all employers with over 150 employees have been legally obliged to report on their gender pay gap, with this requirement extended in November 2025 to include employers with over 50 staff. However, not all employers are doing this. Legislation will be introduced to make it mandatory to report on their gender pay gap to a centralised reporting database-the Gender Pay Gap Portal. Back to the Sustainability/ESG Bulletin

Tánaiste and Minister of Finance, Simon Harris, has signed into law the Statutory Instruments creating the Irish framework of the European Single Access Point (ESAP), an EU-wide data portal centralising free source of public information about EU companies and investment products. The portal, which is established via EU legislation, aims to improve public access to companies’ financial and non-financial information, including that of SMEs. Minister with responsibility for Small Business and Retail and the Circular Economy, Alan Dillon TD, described the rollout of the portal as “mark[ing] an important milestone for Irish businesses, particularly SMEs seeking greater visibility and investment opportunities. By providing a single, standardised source of company information, this platform will simplify cross border engagement, improve investor confidence, and contribute to a more connected and competitive European marketplace.” Commenting, the Tánaiste stated that the portal benefits the green transition by centralising sustainability related financial information and illustrates the commitment the Irish government and the EU has to simplifying the investment journey for retail investors and finding ways to boost investment in Ireland’s domestic industry: “Altogether, the ESAP has the potential to bring a myriad of benefits to Irish people whilst simultaneously supporting the objectives of the Savings and Investment Union and making it easier for firms to raise capital across the EU.” The ESAP will be established and administered by the European Securities and Markets Authority (ESMA). Designated national collection bodies as well as the European Supervisory Authorities will provide data to ESMA for the purposes of ESAP. Back to the Sustainability/ESG Bulletin

Chartered Accountants Ireland was one of seven bodies internationally which renewed a Mutual Recognition Agreement (MRA) with CPA Canada as announced this week. The Institute has 10 MRAs in place with global bodies, allowing members of each institute to benefit from recognition and member supports in each other's representative bodies. Commenting on the benefits for Chartered Accountants Ireland's members, CEO Rosemary Keogh said: "As a small island, Ireland has always been outward-facing, and our members use their qualifications globally. This renewed agreement will benefit the many Irish professionals building their careers in Canada and will allow both bodies to continue to collaborate even more closely in supporting all our members."

In Irish news, the Fiscal Monitor for February 2026 has been published, and Revenue has announced plans to issue a customer services survey on its Estimated Response Time feature. In UK news, the Institute has reacted to last week’s Spring Forecast, and the latest Finance Bill is now at report stage in Parliament. In International news this week, CFE Tax Advisers Europe publishes a Charter of Rights and Obligations on the ethical use of artificial intelligence by tax advisers. Ireland 1. The Department of Finance and the Department of Public Expenditure, Infrastructure, Public Service Reform and Digitalisation have published the Fiscal Monitor for February 2026 which confirms an Exchequer deficit of €1.8 billion to the end of February.   2. Revenue is seeking feedback on the Estimated Response Time (ERT) feature in MyAccount and ROS. UK 3. Read the Institute’s reaction to the Spring Forecast announced by the UK Chancellor of the Exchequer last week. 4. The UK Finance Bill has reached the report stage following completion of the committee stage last month. International 5. Read about the recent publication on a Charter of Rights and Obligations on the ethical use of artificial intelligence by tax advisers. 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. You can also read this week’s Cross-border developments and trading corner here.