The purpose of this section is to answer some of the most common questions practitioners have in relation to practice compliance. If you have any further queries, please do not hesitate to contact us at practicemembers@charteredaccountants.ie.

1. Where can I access all the practice toolkits I need for my practice?
2. Where can I find the Public Practice Regulations?
3. Where can I find out information on professional ethics?
4. Where can I access information for training for the services I need for my practice?
5. Where can I find more information about Anti-Money Laundering (AML)?
6. Where can I find out my General Data Protection Regulation (GDPR)?
7. Our office is currently looking at moving from physical hardcopy to electronic file storage. Is there any requirement to hold the original signed accounts for clients, or are scanned copies are sufficient?
8. Have I done enough CPD hours for the year?
9. Where can I find Independence, Fit & Proper Declarations?
10. Where can I find guidance for my firm’s Annual Return?
11. How can Practice Consulting help with my compliance needs?

1. Where can I access all the practice toolkits I need for my practice?

   Practice Consulting have a suite of toolkits for all your practice needs.  You will find them in the Shop on our website in practice toolkits.

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2. Where can I find the Public Practice Regulations?

   The Public Practice Regulations can be found on the Professional Standards section of the website, along with Guidance on Public Practice Regulations.

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3. Where can I find out information on professional ethics?

   The Institute’s ethics resources can be found in the Ethics Resource Centre. Resources here include the Chartered Accountants Ireland Code of Ethics.

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4. Where can I access information for training for the services I need for my practice?

   The Practice Consulting team can provide all your training needs through their various workshops. You can also visit CPD with whom we work closely to support our members training requirements.

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5. Where can I find more information about Anti-Money Laundering (AML)?

   Please see the Professional Standards Department’s AML section of the website, including reporting obligations and guidance on the Money Laundering Supervision Regulations (ROI).

   Our popular Anti-Money Laundering Policies and Procedures practice toolkit is available in our online shop.

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6. Where can I find out my General Data Protection Regulation (GDPR)?

   Please see our dedicated GDPR resources section, including our GDPR resources for practices.

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7. Our office is currently looking at moving from physical hardcopy to electronic file storage. Is there any requirement to hold the original signed accounts for clients, or are scanned copies are sufficient?

   While not aware of any legal requirement that would prohibit you simply maintaining a scanned electronic copy of such “wet” signed financial statements for your clients, our Institute advice would be to still hold a hard copy of these financial statements.

   Two examples of what can go wrong with scanned copies of any document –

   • if incorrectly scanned there can be missing pages; or
   • the copy/file can be corrupted and not openable/usable.

   While these scenarios do not happen very often thankfully, it is still important to have the original hard copy to hand for financial statements and indeed other important legal contracts.

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8. Have I done enough CPD hours for the year?

   Please see this summary of CPD requirements, and this list of documents that have been prepared to assist you in understanding and complying with the requirements of CPD Regulations.

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9. Where can I find Independence, Fit & Proper Declarations?

   Please see our Statement of Independence and Confidentiality and Confirmation of Fit and Proper Status at Helpsheet F1.

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10. Where can I find guidance for my firm’s Annual Return?

    Please see here for guidance on completing your firm’s annual return. Any queries on your annual return should be directed to professionalstandards@charteredaccountants.ie.

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11. How can Practice Consulting help with my compliance needs?

    Our team in Practice Consulting can provide comprehensive compliance support.  We offer tailored in-house training, coaching and advice on all compliance issues. We can also carry out annual compliance reviews for audit, investment business and AML.  Please see here for information on our charge-out rates.

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