The Department of Finance and the Department of Public Expenditure and Reform have published the Fiscal Monitor for October 2025 confirming an Exchequer deficit of €0.9 billion to the end of October. This compares to a surplus of €1.3 billion recorded for the same period last year and is impacted by receipts arising from the Court of Justice of the European Union (CJEU) ruling in the Apple State Aid case. When these receipts are excluded from total receipts in 2024 and 2025, an underlying deficit of €4.2 billion was recorded which represents a deterioration of €2.3 billion on the same period last year. Tax receipts collected to the end of October were €78.8 billion, which was €2.4 billion higher than the same period in 2024. Excluding the once off receipts from CJEU judgement in the Apple State Aid case, total receipts amounted to €77.0 billion, an increase of €3.8 billion on the corresponding period in 2024. Income tax receipts for the month of October were €2.9 billion which was a reduction of €0.2 billion on receipts collected in October 2024. On a year-to-date basis, receipts to the end of October of €28.7 billion were up by €1.1 billion, when compared to end of October 2024. Corporation tax receipts of €1.1 billion were collected in October, a decrease of €2.4 billion on the same month in 2024. On a cumulative basis, receipts of €21.1 billion were down by €0.3 billion on the same period last year. When the once-off CJEU receipts are excluded, cumulative corporation tax receipts to October 2025 amounted to €19.4 billion, up on the same period last year by €1.1 billion. October is not a VAT due month, with modest VAT receipts collected of €0.3 billion. Cumulative receipts of €19.1 billion were ahead by 4.3 percent on end of October last year. Commenting on the figures, Minister for Finance, Paschal Donohoe said: “Today’s figures are broadly consistent with the updated fiscal projections published as part of Budget 2026. Those projections, which I published on Budget Day, incorporated a substantial upward revision to revenues, mostly on corporation tax.”

In this week’s detailed miscellaneous updates which you can read more about below, we bring you updates on guidance for contractors and subcontractors within the Construction Industry Scheme, the updated VAT registrations manual, and HMRC’s agent escalation and resolutions service. HMRC email updates, videos and webinars for the Construction Industry Scheme HMRC has updated its guidance on paying tax and record keeping for the Construction Industry Scheme for contractors and subcontractors. You can subscribe to receive email updates, view webinars on various matters, and find information on fraud in the labour supply chain. HMRC updates its VAT registration manual HMRC has updated its guidance on VAT, including information on whether someone must register VAT, when they may register for VAT, and how to deal with changes to details held on the VAT register. HMRC agent escalation and resolution services HMRC has provided updated guidance on its agent services. You can read information on tracking the progress of a query and when you can expect a reply, how to use the HMRC service’s dashboard, the Agent Account Managers service, and other tools.

Finance Bill 2025 has completed its third stage through the Oireachtas with the Bill being reviewed section by section as part of the Committee Stage. The amendments arising from this review were published last week in the Finance Bill 2025 Committee Stage Amendments. The Institute, under the auspices of CCAB-I, have been actively engaging with the Department of Finance and Revenue on proposed changes and clarifications to the Finance Bill. The Committee Stage amendments provide the opportunity to address some of the concerns raised and provide additional details on proposed changes.

Last week, HMRC launched its refreshed mobile app (available on Android and iPhone) as part of Talk Money Week. HMRC encourages taxpayers to use the app to support financial conversations and get information about your tax, National Insurance and State Pension forecast. The theme of this year’s Talk Money Week was ‘start the conversation’ and the app can provide the starting point for these discussions. The app has been used by more than 5.6 million since 6 April 2025 and the most popular services used are: Checking pay before it lands in the bank account and other Pay As You Earn (PAYE) information Viewing the annual tax summary – 1.94 million users Viewing or saving their National Insurance number or checking contributions Checking their State Pension forecast Viewing the Self Assessment summary and making payments.

Revenue has published updated guidance on the Keep Employee Engagement Programme (KEEP) clarifying that the limits applicable to a qualifying share option must be met at the time the option is granted. The Institute, under the auspices of CCAB-I, had sought this clarification through the TALC Direct and Capital Taxes subcommittee, and welcomes the confirmation in the updated guidance. The limits outlined in the definition of qualifying share option confirm that the total market value of the share options which may be granted to any one employee/director cannot exceed €100,000 in any one year of assessment or €300,000 in all years of assessment. The updated guidance confirms in paragraphs 9.3.1 and 9.3.2 that these limits must be satisfied at the date a share option is granted. Examples 2,3,4 and 11 have also been updated to reflect this clarification.

Revenue issued a press release last week confirming an extension of the deadline for filing Local Property Tax (LPT) returns for the 2026-2030 period to 5:30pm on Wednesday, 12 November 2025. Revenue’s LPT helpline will also operate extended opening hours in the lead-up to the new deadline. We have been closely engaging with Revenue as last week’s deadline approached, and we are pleased to see this pragmatic approach to filing adopted. Revenue confirmed that LPT returns in respect of approximately 1.4 million properties have been filed to date and property owners are encouraged to submit their Local Property Tax (LPT) returns online using myAccount, ROS, or the LPT portal.  Revenue has outlined that a practical and fair approach will be taken, with property owners wishing to pay by monthly Direct Debit or Deduction at Source being encouraged to file their returns as soon as possible, as these payment options must be arranged in advance.

The heads of tax administrations from EU Member States and representatives from candidate countries attended the annual summit of EU Tax Administrations last week.  The summit concluded with a renewed focus on modernising EU tax governance through digital resilience in a climate of geopolitical and technological volatility. The participants reaffirmed their commitment to cooperation between Member States, and the gradual integration of candidate countries.

The OECD has published a working paper on the current reform of Brazil’s consumption tax system replacing the five main consumption taxes with a dual VAT system consisting of a Federal VAT and a State and Municipal VAT. The paper considers challenges, solutions, transition to and management of the new regime.

Revenue has announced today that it is extending the Local Property Tax (LPT) filing deadline to 5.30pm on Wednesday, 12 November 2025. To support property owners, Revenue’s LPT Helpline (01 738 3626) will operate extended opening hours in the lead-up to the new deadline. For Monday and Tuesday, the LPT Helpline will operate between 9.00am and 8.00pm and on Wednesday it will operate from 9.00am to 4.30pm.  You can read the full press release here.

In this week’s Sustainability/ESG Bulletin, read about the report warning how extreme weather events will test Ireland’s economic and financial resilience and the Department of Finance’s report into potential long-term impacts of global megatrends, like climate change, on Ireland’s economy and public finances. Also covered is the announcement by the EIB of new support to develop Ireland’s district heating systems, the agreement by EU Member States on emissions targets, the proposed changes to carbon accounting, and the landmark European Court of Human Rights ruling setting a precedent for climate accountability, as well as the usual articles, jobs and upcoming events.   IRELAND Report into climate adaptation finance identifies shortfalls in Ireland’s resilience A new joint report by the Climate Change Advisory Council and the Central Bank of Ireland has warned that the deployment of climate adaptation finance is below what is required to address the escalating risks posed by climate change. Without action, the impact of extreme weather events will test Ireland’s economic and financial resilience. The report, Funding Climate Adaptation in Ireland, emphasises the importance of credible transition plans to build resilience in the financial sector and contribute to a resilient economy. Actionable solutions include transition planning that incorporates adaptation, and the development of scalable, investable project models, and a register of successful adaptation projects to build momentum and share solutions. Report publishes on long-term fiscal and economic assessment of Ireland’s needs The Minister for Finance, Paschal Donohoe TD, has published Future Forty: A Fiscal and Economic Outlook to 2065 examining the long-term impacts of global megatrends and other structural shifts and their potential impact on Ireland’s economy and public finances in the years ahead. In total, over 2,000 scenarios have been modelled, which collectively point to a continued growth in living standards, but with slowing growth over the long-term, and a steady decline of our fiscal position. Among the key economic and fiscal drivers identified as contributing to this is the long-term costs of decarbonisation and climate mitigation along with demographic shifts and slowing productivity, and a slowdown in corporation tax receipts. The next decade is highlighted as a window of critical opportunity to boost economic growth potential, address the structural challenges and avail of the opportunities that may lie ahead. Ireland responds to EU’s proposed 2040 climate target Ireland’s Minister for Climate, Energy and the Environment, Darragh O’Brien has welcomed the EU’s agreement on a proposed 2040 climate target and updated Nationally Determined Contribution (NDC) (see below), praising in particular its recognition of “the particular characteristics of our agriculture sector” and the importance of energy affordability and social cohesion. The announcement follows the publication of reports by Environmental Protection Agency (EPA) that Ireland is significantly off  track to meet its legally binding 2030 emissions reduction goals, with agriculture accounting for over 37.8 percent of Ireland’s total greenhouse gas emissions — the largest share of any sector. Other reports point to continued degradation of Ireland’s water quality caused by excess nutrients from agriculture, urban wastewater and other human activities. Separately, Taoiseach Michael Martin attended the two-day World Leaders Climate Action Summit in Belém, Brazil, which brings together heads of state and government, ministers, and leaders of international organizations to discuss pressing climate change challenges and commitments. Commenting, Taoiseach Martin said that there needs to be more leaders "ready to tell it as it is" and that Ireland is adapting by investing in flood relief schemes and coastal defences, early-warning systems and sustainable agriculture and industrial practices. Over the coming weeks Chartered Accountants Ireland will provide coverage of the climate summit, and potential impacts to business on its Sustainability Centre. European Investment Bank (EIB) announces new supports for Ireland’s district heating The European Investment Bank (EIB) has announced new technical and financial advisory support to help Ireland develop district heating systems. Heating accounts for more than one-third of Ireland’s energy-related emissions, with more than 80 percent of households still relying on fossil fuels. District heating—common across Nordic and central European countries—offers a proven way to decarbonise heating by using renewable, waste, and low-carbon heat sources. It also provides more stable, predictable costs and the opportunity to shield connected households from market volatility.  Ireland’s networks currently supply less than 1 percent of national heat demand, highlighting a major opportunity for growth. The Department of Climate, Energy and the Environment has opened an Expression of Interest (EoI) through the SEAI website, for interested parties to be considered for the fund. EUROPE Member States agree on emissions targets Member States of the European Union have agreed on new EU Nationally Determined Contribution (NDC) under the Paris Agreement ahead of the UN Climate Change Conference (COP30). This annual global climate change conference begins in Belém, Brazil, on 10 November. The new EU NDC, which will now be submitted to the United Nations Framework Convention on Climate Change (UNFCCC), is to reduce net GHG emissions by 66.25 –72.5 % below 1990 levels by 2035, and by 90 percent by 2040. The agreement followed protracted talks among environment ministers in Brussels and included flexibility about how that target could be met, such as the ability to buy carbon “credits” to allow EU countries to finance climate action elsewhere and count that financing towards up to 5 percent of their own reduction targets. This has drawn criticism as allowing for carbon credits means the actual impact on reductions in emissions could be lower than what is needed to arrest climate change. The 2040 climate target can become law following approval by MEPs in the European Parliament. European Union ‘largely on track’ to achieve 2030 targets A report published by the European Environment Agency has found that the European Union remains largely on track to achieve its 2030 targets to reduce net greenhouse gas emissions. Trends and projections in Europe 2025 estimates that total net greenhouse gas emissions in the EU fell by a further 2.5 percent in 2024. It further found that EU Member States are expected to collectively achieve a net emissions reduction of 54 percent by 2030 compared with 1990 levels, which is just under the 55 percent reduction target. The report also notes that while several developments will require focused attention in the coming years, the foundation for progress is in place: recent years have seen a rapid acceleration in emission reductions and the emergence of numerous technological and policy solutions. However, it also underscores the scale of the remaining challenge — in particular, the need to strengthen more resilient carbon sinks, accelerate transport decarbonisation and ensure delivery at national level. Separately the latest European Environment Agency (EEA) review of national climate adaptation actions highlights that while European countries have made substantial progress in planning for climate adaptation and with adopting policies, implementation and evaluation need to be significantly strengthened to ensure actions effectively address the escalating climate risks Europe faces. WORLD COP30 “Return on Action” Campaign The We Mean Business Coalition, the World Business Council for Sustainable Development, and partners are inviting companies to participate in the COP30 “Return on Action” campaign. The initiative showcases how corporate climate action is delivering tangible benefits — from green jobs and energy security to cost savings and sustainable growth. The aim is to “send a clear signal to Heads of State, environment ministers, fellow corporate leaders and concerned citizens, that business remains committed to deliver on the promise of the Paris Agreement” .Their goal is to take over the online conversation for 24 hours during the COP30 negotiations, thereby generating media coverage, and “send an unmissable message to policy makers and the public about the unstoppable momentum of corporate climate leadership.” Businesses are encouraged to submit case studies demonstrating impact, which will be reshared globally on 12 November during COP30 to highlight collective momentum and reinforce commitment to the Paris Agreement. For more information or to get involved, contact cop@wmbcoalition.org  or access the Q&A here. Proposed changes to carbon accounting The Greenhouse Gas Protocol, the leading international standard for measuring and managing greenhouse gas emissions from companies and governments, has launched a public consultation for updates to its guidance on Scope 2 emissions, i.e. emissions from purchased electricity, steam, heat, and cooling. The proposed revisions aim to improve accuracy while keeping reporting clear, consistent, and manageable for organisations of all sizes and reflecting the world’s rapidly changing energy landscape. Proposals involve stricter requirements for both location- and market-based reporting, with final revisions expected in 2027. The 60-day public consultation period began on October 20, 2025 and will run until December 19, 2025. Landmark ruling sets precedent for climate accountability The European Court of Human Rights has reportedly set a precedent for climate accountability in a landmark ruling on the case of Greenpeace Nordic and Others v. Norway. The Court held that when making a decision in the context of the environment and climate change, the State had to carry out an adequate, timely and comprehensive environmental impact assessment in good faith, and based on the best available science. The case began in 2016 with Greenpeace Nordic, Nature and Youth, and six activists challenging Norway’s decision to open parts of the Barents Sea to oil exploration, arguing that the licences violated their rights under the European Convention on Human Rights. The impact of setting science-based targets on businesses The SBTi has released a new report demonstrating that science-based targets deliver competitive advantage—not just climate impact. In The Impact of Setting Science-Based Targets on Businesses report, a survey of 171 companies, a literature review of 22 studies, and three case studies indicate that companies benefit from a wide range of positive effects as a result of setting science-based targets. This ranges from improved investor relations to better financing terms, enhanced strategic cohesion, more alignment with suppliers, and resilience across multiple areas of risk, in addition to higher climate ambition and a faster pace of decarbonisation. Articles Turning Uncertainty into Action: Why Every Business Needs a Climate Transition Plan (IBEC) DEI isn’t dead, it’s just reincarnating (Financial Times) Climate and affordability are at the heart of Zohran Mamdani’s mayoral bid (Sustainable Views – Subscription needed) Critical minerals shortage threatens EU energy transition (Accountancy Ireland - Briefly)   Jobs Financial Services - Climate Change and Sustainability Services - Senior Consultant (EY)   Events Business for Biodiversity Ireland, Supporting Action for Business & Biodiversity BFBI, in partnership with Waterford City & County Council Climate Action Team, will host a free webinar to help Irish businesses understand their relationship with nature and develop a strong Nature Strategy. The session will explore how biodiversity adds value and resilience to organisations. Online, 11 November 2025, 11:00am–12:00pm Irish Green Building Council, IGBC Lunch & Learn: Promoting Business Benefits of Sustainable Strategies for SMEs This one-hour webinar, hosted in collaboration with Bank of Ireland, explores how SMEs can unlock business value through sustainability—covering cost savings, brand enhancement, and access to financial supports, with expert insights and practical tools including the Sustainability Business Coach Virtual, Wednesday 12 November 2025, 1:00pm – 2:00pm Ibec Networks Autumn Seminar Series, Session 4: The culture of sustainability innovation The final webinar in a four-part series Autumn Seminar Series ‘The culture equation’ looks at what supports are available to assist on a journey to becoming a more sustainable business. In the supporting case study from O'Brien's Fine Foods the webinar will discuss what drives a sustainability focused culture in an organisation. Virtual, Thursday 13 November, 11.00-11.50am Sustainable Energy Authority of Ireland (SEAI), SEAI Webinar: Supporting SMEs on the Path to Sustainability This webinar will explore how small and medium-sized enterprises can adopt sustainable practices, reduce energy costs, and access available supports. The session will include expert guidance and practical tools tailored to SME needs. Virtual, Thursday 14 November 2025, 11:00am – 12:00pm  iQuest / Business Post Live, ESG Summit Autumn 2025 This ESG Summit will explore how sustainability is becoming central to business strategy. With a focus on regulatory shifts, climate transition planning, ESG data governance, and nature-positive outcomes, the event brings together business leaders, policymakers, and sustainability professionals to share insights and practical strategies. In-person, 20 November 2025, 8:45am–5:00pm, Croke Park, Dublin  Business in the Community Ireland, Launch of Ireland’s First Climate Transition Plan Scorecard BITCI, in partnership with DCU Institute for Climate and Society, will launch Ireland’s first Climate Transition Plan Scorecard. The Scorecard assesses corporate climate plans across nine key areas and is part of BITCI’s Accelerate campaign. In-person, 20 November 2025, 3:00pm–4:00pm (wine reception until 5:00pm),  Sky Suite, Radisson Blu, Golden Lane, Dublin 8 IBEC, Preparing for Severe Weather Events Severe weather conditions can cause major disruption to roads, bus or train infrastructure and therefore, the operation of your business. In this webinar, Dr. Michael Gillen, Head of OSH Policy will review the key points to consider, practical steps and control measures you can put in place. Virtual, 26 November 11:00 - 11:45 Chartered Accountants Ireland, Network for Chartered Accountants working in ESG This informal network offers Chartered Accountants working in ESG/Sustainability a space to connect, share insights, and discuss challenges and opportunities in the field. Members working on ESG-related projects are encouraged to join and contribute to the conversation. Online, 19 November 2025, 2:00pm–3:00pm, Email sustainability@charteredaccountants.ie to join   Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.  

ESB has been announced as the Overall Winner for this year’s Chartered Accountants Leinster Society Published Accounts Awards, in addition to winning the ‘Statutory or Unlisted Entity (IFRS)’ Award category.  The Leinster Society have been proudly hosting the Published Accounts Awards for 48 years. These awards honour outstanding achievement in corporate reporting; celebrating companies across the island of Ireland that demonstrate excellence, transparency, and innovation in financial communication. Companies simply submit their annual report, which then goes through a round of technical reviewing, before a team of external judges make their final decision. A lot of hard work goes into producing the annual reports, and the Leinster Society are proud to showcase that hard work. The awards, sponsored by Euronext and Arachas, took place in the Shelbourne Hotel on Thursday 6 November, with host Mario Rosenstock who had us all laughing from the moment he stepped into the room in a questionable wig. From beginning to end there was a buzz of excitement and energy in the room. A total of 27 public and private companies, and 9 not-for-profit organisations competed as finalists across thirteen distinct awards categories. A huge congratulations to all of our winners, see full list below. Check out the photos of the night here. Award 2025 Winner Euronext Dublin (Large Cap > €1bn) Glanbia Euronext Dublin (SME < €1bn) Dalata Company Listed on a Foreign Market Grafton Group Euronext Growth Award Uniphar Statutory or Unlisted Entity (IFRS) ESB Statutory or Unlisted Entity (Non-IFRS) daa Arachas Large Not-for-Profit Concern Worldwide Arachas Small / Medium Not-for-Profit Dogs Trust Sustainability & ESG Reporting Award (UnlistedEntity) Northern Ireland Water Diversity & Inclusion Award (Listed orUnlistedEntity) Bank of Ireland Diversity & Inclusion Award (Not-for-Profit) The Wheel Branding, Communication & Digital Award Dogs Trust Overall Winner ESB   'ESB’s Finance team works closely with colleagues across the organisation to produce an Annual Report which provides our stakeholders with the financial and non-financial information they need to understand ESB’s performance, business model, net zero strategy and contribution to Irish society. This award is testimony to the hard work of our people over many years to continuously raise the standards of our Annual Report year-on-year. The theme of our Annual Report this year was “Empowering the Sustainable Energy Transition”, and we put a particular focus on our disclosures around “Planet, Place and People” in advance of the implementation of the Corporate Sustainability Reporting Directive, which ESB will be voluntarily applying. ' Stephen Walsh, Group Financial Performance Manager, ESB "Dogs Trust Ireland is honoured to receive two Published Accounts Awards. This recognition is a testament to the dedication of our team and their commitment to transparency, accountability, and excellence. Sharing the impact of our work openly with our supporters and stakeholders is central to who we are, and it’s deeply rewarding to see that commitment acknowledged in this way." Karla Dunne, Interim Executive Director, Dogs Trust “daa is delighted to receive this Published Accounts Award for our 2024 Annual Report. It’s a fantastic recognition from the Society of the hard work and collaboration that goes into producing our annual report with our auditors EY and our design partners Emperor. Thank you to everyone involved in organising a superb awards night.”  Kevin Cullinane, Deputy Director of Communications, daa  “We are absolutely delighted and honoured to win this prestigious award which is a true reflection of the time and effort that goes into the production of the Annual Report from cross functional teams across the Glanbia organisation. It is a true example of working together to produce quality output.” Marian Ryan, Assistant Group Financial Controller, Glanbia “Sustainability reporting extends beyond mere disclosure; it represents a commitment to accountability, transparency, and alignment with the Paris Agreement targets. By realigning strategies with science-based goals and conducting a double materiality assessment, businesses can integrate emission reduction, water and biodiversity conservation, robust social and governance practices, and sustainable finance considerations into their strategic planning. To achieve meaningful progress, organisations should also embed circular economy principles, strengthen stakeholder engagement, and enhance climate resilience. Companies that adopt this holistic approach are better positioned to drive responsible growth, create long-term value, and contribute to a sustainable global economy.” Anthony Raivellur, Judge, Former EY and Deloitte Sustainability Professional "The judging panel were incredibly impressed by the high quality of each report shortlisted, and the responsible teams should be immensely proud of their talent and dedication.  he ultimate winner in each category stood out by exemplifying the high standards of quality that we were looking for and have set a standard that other plcs, unlisted companies and charities can aspire to "  Maeve O'Connor, Judge and Group Financial Controller , Hostelworld “The standard of accounts continues to improve year on year with a noticeable effort for accounts to refer to risk factors and strategy achievements.  The leading accounts all have unique and helpful aspects such as informative  graphs and 5 year comparison tables” Gavin O’Flaherty, Judge and corporate partner, William Fry  “It was encouraging to see sustainability approached more holistically this year. The best reports moved beyond environmental checklists and spoke about people, community, and purpose. When brands align sustainability with authentic human connection, that’s when it becomes a meaningful part of their identity.” The full judging panel for the Branding, Communication and Digital Award: Larry Byrne of Larry Byrne Design  Andrea Kavanagh of Resonate Design Barbara Monahan of CUBE Design    

Welcome to the latest edition of Technical Roundup. In developments since the last edition, the Charity SORP making body has published the latest version of the SORP, the IFRS Foundation has published its latest compilation of IFRIC’s agenda decisions and IAASA has published some highlights from their recent Audit Committee Briefing. The EU and UK Government have also updated their sanctions measures. Read more on these and other developments that may be of interest to members below. Financial Reporting The FRC has issued two thematic reviews to enhance the quality of, and provide insights into, UK company reporting in respect of investment companies and share-based payments. The Financial Reporting Council (FRC) is hosting an online roundtable session on Tuesday 18 November looking for feedback from UK companies who follow the Corporate Governance Code. The Financial Reporting Council (FRC) has issued a consultation on the Actuarial Standard Technical Memorandum 1 (AS TM1) which proposes no significant amendments to the standard. The FRC has published a discussion paper on future technical development of UK digital reporting taxonomies inviting feedback from stakeholders across the digital reporting ecosystem.  Comments are requested by 11 January 2026. The FRC has published its guidance to the UK Stewardship Code 2026. This optional guidance offers suggestions for the types of information organisations may want to include in their reports which explain their approach to stewardship. The International Organization of Securities Commissions (IOSCO) has issued a statement highlighting the importance of high-quality valuation information in financial reporting. The European Securities and Markets Authority (ESMA) has published the latest edition of its “Spotlight on the Market” Newsletter. The European Financial Reporting Advisory Group (EFRAG) has published its final comment letter in response to the International Accounting Standards Board’s (IASB’s) Request for Information on the Post-implementation Review of IFRS 16 Leases. EFRAG are currently holding two surveys of SMEs across the EU. The surveys- which address the needs of start-ups and SMEs, and challenges for finance providers- remain open until 17th November. The IASB has released a series of webcasts to assist SMEs in applying the third edition of the IFRS for SMEs Accounting Standard. The most recently released webcast looks at Section 12 Fair Value Measurement. The IASB has released its October 2025 Update and Podcast. The IFRS Foundation has published Compilation of Agenda Decisions – Volume 13. This covers decisions made by the IFRS Interpretations Committee (IFRIC) from May 2025 to October 2025. IFRIC has also issued its Q3 2025 Podcast. The UK Endorsement Board (UKEB) has issued a summary of its recent report entitled “An Approach to Estimating Capital Market Effects”. The UKEB has also published its latest work plan. Accountancy Europe has issued its October 2025 Newsletter. The Consultative Committee of Accounting Bodies (CCAB) has published the new edition of the LLPs SORP. Auditing and Assurance IAASA has released its third publication as part of its 2025 AQS Insight Series which focuses on key messages for auditors in relation to IFRS 17. The FRC has published a report setting out the key findings and good practice they have identified in the 2023/4 and 2024/5 inspection cycles related to the audits of the twelve largest audit firms. IAASA has published highlights from their recent Audit Committee Briefing. Sustainability Following on from its “VSME in Action” event held on 6 October, EFRAG have released a summary of the event containing an event report, recordings and slides. Following its recent response to EFRAG’s Exposure Draft on the amended European Sustainability Reporting Standards, Accountancy Europe has shared some of its thoughts and key suggestions in relation to the proposed amendments. The International Sustainability Standards Board (ISSB) has issued its October 2025 update. Following the rejection of the simplified rules for sustainability reporting and due diligence obligations in the EU Parliament on 22 October, MEP’s will again vote on amendments at the upcoming Plenary Session on 13 November. Charities The Charity SORP making body has issued the October 2025 edition of the Charity SORP. For Charities who apply the SORP these changes will be effective for periods commencing on or after 1 January 2026 and take into account the changes arising from the 2024 Periodic Review of FRS 102. The Charities Regulator has established a Consultative Panel on the advancement of human rights as a charitable purpose. The Charities Regulator has released Issue 36 of its Regulator Newsletter. This includes some updated guidance on internal financial controls for charities, details of a dedicated webpage which summarises the main changes included in the Charities (Amendment) Act 2024 and new guidance on recognising and addressing dominant behaviour in Charities. Carmichael have issued the 14th edition of their “Governance Dilemma” series, which discusses real-life challenges faced by boards of non-profit organisations. This edition looks at difficult circumstances a charity might be faced with when both a CEO and Board Chair resign suddenly, and a board member encounters pressure to step up to fill the vacant position. Anti-money laundering and Fraud The Professional Standards Department at Chartered Accountants Ireland has published its AML Supervision Report 2024/25. The UK government announced in its AML Supervision Reform Response Document that AML/CFT responsibilities including supervision for professional services (legal, accountancy, and trust and company service providers (TCSPS)) will be consolidated and handled by the Financial Conduct Authority (FCA) creating a Single Professional Services Supervisor (SPSS). It has now issued a consultation on the subject which will run from 6th November 2025 to 24th December 2025. The European Banking Authority (EBA) published its fifth and final report on the Functioning of Anti-Money Laundering and Countering the Financing of Terrorism (AML/CFT) Colleges. This report sets out findings and observations from the EBA's monitoring of AML/CFT colleges, which suggest that, overall, competent authorities continued to use colleges to share relevant information that could enhance the effectiveness of supervision. The EBA also highlights the need for continued progress on key priorities of the AML/CFT Colleges to ensure effectiveness of the work and functioning of the Colleges going forward. From 1 January 2026, the responsibility to monitor AML/CFT colleges will be transferred to the European AML Authority (AMLA). The findings from this report will be relevant for AMLA as it builds its supervisory framework. AML/CFT colleges will remain a key cooperation tool under the new legislative framework, as the AML/CFT colleges framework was enshrined in the AMLD6. The European Banking Authority (EBA) responded to the European Commission’s Call for Advice on the key components of the new AML/CFT framework. This advice puts forward a risk-based and proportionate approach that will support the swift and effective start of the Anti-Money Laundry Authority (AMLA) operations. The EBA’s response outlines details regarding certain draft regulatory technical standards in key areas including the risk assessment AMLA will use to determine the institutions it will directly supervise and information obliged entities will have to obtain as part of the customer due diligence process under the new AML/CFT regime. Please refer to the attached detailed report for details of all areas covered in this Call for Advice. The Financial Action Task Force (FATF) published an update from its Plenary meeting including an update regarding FATF assessments under the new round of mutual evaluations, jurisdictions under Increased Monitoring and an update regarding jurisdictions no longer under Increased Monitoring. In addition, an update regarding jurisdictions subject to a Call for Action was also included. The FATF also approved a new Horizon Scan, to notify public and private sectors around the world about current and potential future illicit finance risks presented by artificial intelligence (AI) and deepfakes.  Sanctions news The European Union has adopted the 19th package of sanctions against Russia. The new package of sanctions substantially increases the pressure on the Russian war economy, targeting key sectors such as energy, finance, the military industrial base, special economic zones, as well as enablers and profiteers of its war of aggression. Sanctions include an introduction of a total ban on Russian Liquefied Natural Gas (LNG) and a further clamp-down on the shadow fleet. Measures also target financial services and infrastructure (including for the first time crypto), as well as trade, the services sector, and strengthen anti-circumvention tools.  The UK Government is making some changes and updates in relation to sanctions .On 3 November it launched a new sanctions enforcement action page on GOV.UK that brings together sanctions enforcement information from across HM Government - including penalty notices, annual reviews, case studies and key lessons for industry. In the UK the Office of Financial Sanctions Implementation (OFSI) issued its Annual Review 2024 to 2025 and click to read more on the OFSI webpages. It was also announced that there will be a move to a single list for UK sanctions designations from 28 January 2026. Currently the OFSI Consolidated List from HMT provides information relating to asset freeze and investment ban targets across all financial sanctions’ regimes implemented in the UK. This list will close at 09:00GMT on Wednesday 28 January 2026 and from then the UK Sanctions List will be the only source for all UK sanctions designations. Guidance has been issued on moving to a single list for UK sanctions designations where you can read more about the changes. Central Bank of Ireland (CBI) In a speech by the Deputy Governor Colm Kincaid to the Central Bank of Ireland’s Consumer Protection Code Workshop, the Deputy Governor highlighted what firms should consider when implementing modernised provisions to protect consumers in vulnerable circumstances. This is in the context of the new Consumer Protection Code, which will come into force for regulated financial service providers in March 2026. The CBI provided an update on the Eurosystem moving to the next phase of the digital Euro project. The Governing Council of the European Central Bank (ECB) has decided to move to the next phase of the digital euro project. This decision follows the successful completion of the preparation phase, launched by the Eurosystem in November 2023, which laid the foundations for issuing a digital euro.  The CBI announced an enforcement action against a virtual asset service provider for breaching its anti-money laundering and counter terrorist financing transaction monitoring obligations between 2021 and 2025. The fine amounted to €21,464,734. For more details, please refer to the following link on the CBI’s website. Artificial Intelligence (AI) The Workplace Relations Commission (WRC) has issued a Guidance Document for use by all parties who may apply AI tools to assist them in the preparation and submission of material or documents with respect to evidence in their case. The Department of Enterprise, Tourism, and Employment (DETE) announced that the Expert Group on Future Skills Needs (EGFSN) published a new report examining ‘How AI is transforming the Irish labour market’. The report highlights that Ireland leads in terms of the demand for AI related jobs, AI related jobs and usage in Ireland have doubled since 2023, and Ireland ranks 3rd in the EU in terms of digital skills. Cybersecurity The National Cyber Security Centre (NCSC) in Ireland issued an alert regarding F5 devices and products. The advisory applies to organisations operating F5 BIG-IP, BIG-IP Next, F5OS-A/C, or Silverline devices, particularly those running versions listed in the advisory. NCSC advises to take certain actions including reviewing the security incident advisory and F5 guidance document, consulting details regarding affected versions and patch levels, applying recommended fixes and patches, and perform any necessary upgrades. In addition, the NCSC Ireland also issued an alert regarding a remote code execution vulnerability in Windows Server Update Service (WSUS) and strongly recommends installing updates for vulnerable systems with the highest priority, after thorough testing. Affected organisations should review the latest release notes and install the relevant updates from Microsoft. The US Cybersecurity and Infrastructure Security Agency (CISA), in partnership with the National Security Agency and international cybersecurity partners, has released Microsoft Exchange Server Security Best Practices. This is a guide to help network defenders harden on-premises Exchange servers against exploitation by malicious actors. The European Union Agency for Cybersecurity (ENISA) published a report regarding cyber threats faced by the public administration sector in the EU in 2024. The report highlights how EU public administrations are increasingly targeted by hacktivists, primarily resorting to Distributed Denial-of-Service (DDoS) attacks. Recommendations are also included in the report to mitigate common cyber threats encountered in the public administration sector. Companies Office - Busy Filing period The Irish Companies Registration office has published a notice regarding the annal returns peak filing period. Readers are also referred to our recently published tips and pointers for the busy Annual Return filing season which may help you navigate the process with the Companies Registration Office. We echo the CRO advice to file early, if at all possible. Other news Readers can access here a recent Institute news item on the introduction of the Companies (Protection of Title: Accountant) Bill 2025 in Dáil Éireann. Please click to read the Dept of Enterprise Tourism and Employment Statement of Strategy 2025-2028 which was published in October 2025. Click here to read the Statement of Strategy 2025-2028 press release .Actions referred to include removing unnecessary regulatory or administrative burdens on business, undertaking a periodic critical review of the Irish Auditing and Accounting Supervisory Authority and ensure Ireland has an effective auditing and accounting regime, establishing an updated legal framework for co-ops and enacting the Registration of Limited Partnerships and Business Names Bill, to modernise the legal regime applicable to limited partnerships and facilitate ease of use of this legal vehicle. The Pensions Authority has published a consultation on in-scheme drawdown with a closing date for submissions of 5 December 2025. The Financial Conduct Authority has issued a warning to investors in Contracts for Difference (CFDs) that they risk losing out on protections. The European Data Protection Board (EDPB) has adopted the European Commission’s opinions on the extension of the validity of the UK adequacy decisions under the General Data Protection Regulation (GDPR) and the Law Enforcement Directive (LED) until December 2031. The EDPB notes that extension of the validity of the UK adequacy decisions will allow organisations and competent authorities based in Europe to continue transferring data to UK-based organisations and authorities without implementing additional guarantees. It also demonstrates continuing alignment between the UK and Europe’s data protection framework. The European Commission published its 2026 work programme. The 2026 Commission work programme sets out the key strategies, action plans and legislative initiatives that will lay the foundation for the work ahead during this mandate and will help deliver on European Commission’s ambition to build a strong, secure, and prosperous Europe. The focus of the work programme includes sustainable prosperity and competitiveness and simpler rules and stronger delivery. Accountancy Europe has outlined some of the key initiatives on the 2026 work programme that it will be following and contributing to. The European Securities and Markets Authority (ESMA) published a statement welcoming the strong initial engagement by National Competent Authorities (NCAs) on cyber risk and digital resilience and calls for continued efforts on the Union Strategic Supervisory Priorities (USSPs) in the context of ESG disclosures. The Financial Reporting Council (FRC) has published updated guidance on the remuneration of non-executive directors (NEDs) as part of its regular updates to the guidance supporting the UK Corporate Governance Code 2024.   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.