Technical roundup 22 December

Dec 20, 2017

Developments of interest this week are outlined. 

ROI

  • Chartered Accountants Ireland has published Statements of Insolvency Practice (SIP) 14B ‘A receiver’s responsibility to preferential creditors – Republic of Ireland’ and SIP 19B ‘Appointment as examiner or independent expert under Part 10, Companies Act 2014’.  The SIPs are effective for assignments commencing on or after 1 January 2018.
  • The Central Bank of Ireland has published the second Macro-Financial Review of 2017 which highlights risks to the Irish economy and financial system.
  • The CRO have issued their regular gazette.

UK

  • A new report has been issued by the Financial Reporting Council’s (FRC) Audit and Assurance Lab which encourages audit committees, companies, investors and auditors to collaborate on best practice on audit related issues.

European

  • The European Securities and Markets Authority (ESMA) have issued guidance to national competent authorities (NCAs) and market participants on the topic of continuity of cross-border provision of investment services in the transition between MiFID I and MiFID II.

International 

  • The IFRS Foundation has published Standard IFRS for SMEs guidance which has been developed by the SME Implementation Group (SMEIG).
  • Following the December meeting, the International Accounting Standards Board (IASB) work plan has been analysed to see what changes have resulted and other de­vel­op­ments.

 

 

 

 

 

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