Professional Standards

What we do

The Professional Standards Department of Chartered Accountants Ireland, along with relevant compliance and disciplinary committees, is responsible for the delivery of the Institute's regulatory and disciplinary obligations which derive both from statute and its own Bye-Laws and Regulations. The Regulatory Policy Board develops Institute policy with regard to regulatory matters and approves Institute Regulations governing regulation & discipline. The Chartered Accountants Regulatory Board (CARB), oversees and supervises how the Institute fulfils its regulatory and disciplinary remit.

Annual Returns

Annual Returns

Submit your Annual Returns for firms or individuals.

CARB

CARB

Chartered Accountants Regulatory Board, known as CARB, was established under the Bye-Laws of Chartered Accountants Ireland.

Professional Standards

Professional Standards

From 1 January 2017, the department responsible for regulation and discipline will change its name from CARB.

New audit regulations

New audit regulations

New audit regulations effective from 1 April 2017.

News

News

Keep up to date with our latest news.

Latest news

Professional Standards

We would like to remind our members that all outstanding Regulatory Fees are now due.

May 26, 2017
Professional Standards

FIU Ireland will be acquiring a new IT software solution, called goAML on Monday 29 May 2017.  This is an IT software solution specifically designed by the United Nations Office on Drugs and Crime (UNODC) for use by Financial Intelligence Units (FIUs) throughout the world - approximately thirty FIUs around the world use goAML, with many more in the process of acquiring it. To date, most Suspicious Transaction Reports (STRs) pursuant to Section 42 Criminal Justice (Money Laundering & Terrorist Financing) Act 2010 were received by the FIU and Office of the Revenue Commissioners in paper format.  The goAML system will allow reporting entities to submit STRs electronically to the FIU either as (1) web reports via a secure website or (2) uploading XML Files - see the goAML User Guide. When the website www.fiu-ireland.ie, featuring the goAML system goes live, reporting entities will be able to submit STRs electronically to the FIU.  Prior to being able to submit an STR online, the Money Laundering Reporting Officer (MLRO) must register his/her entity on the FIU Ireland website - there is a guide (goAML Web Registration Guide) that explains the registration process.  Once the registration has been completed, FIU Ireland will authorise each reporting entity as a user of goAML.  When the registration has been authorised, STRs can then be submitted electronically to the FIU. Once an STR has been accepted by the FIU, this exact STR can be printed and forwarded to the Office of the Revenue Commissioners (RC) as is currently the procedure.  The FIU is currently engaging with the RC with regard to goAML - while the RC is not, at this juncture, planning to acquire goAML, they are exploring available options which would allow for them to also receive STRs electronically.  The RC have stated that they are willing to receive STRs in this goAML format as opposed to being handwritten/typed on the traditional STR form (Form ML1).  Please see the Quick Reference Guide which gives step by step instructions on how to submit an STR. goAML will provide a number of benefits, including the following: Secure submission of STRs. Electronic receipts for submitted STRs. Reduce cost on postage and stationary. Multiple users - The goAML website allows for multiple users to be registered for each reporting entity. Message board - goAML features a message board that will allow a reporting entity to communicate directly and securely with the FIU. Trends, typologies or alerts - The FIU will use the message board to share information on various money laundering & terrorist financing trends and typologies resulting from the analysis of STRs, etc.  In the event that reporting entities need to be quickly alerted concerning particular suspicious/fraudulent activities identified from STRs, this can be done via the message board. Statistics - goAML contains a feature which allows for reporting entities to maintain statistics on data of interest such as the number of STRs that they have submitted to the FIU, etc. Please note that while your entity will receive an automatic acknowledgement when an STR is accepted by the FIU, periodic feedback as to the status of each STR will cease.  If the FIU needs to communicate with the MLRO on individual STRs, this will be done via the secure message board. If your firm experiences any difficulties with the registration process or with the electronic submission of STRs after the 'go live' date, email correspondence can be forwarded to FIU - Ireland@garda.ie outlining the specific problem(s) and a member of the FIU team will revert with assistance.  In urgent matters, direct contact should be made by telephoning the FIU at 01 6663714. If your entity wishes to explore forwarding STRs by way of single/batch XML uploads, correspondence re: same should also be forwarded to FIU-Ireland@garda.ie. Please note that the website will not be 'live' until Monday, 29 May 2017 so you will not be able to submit a request for resignation as a goAML user until this date. 

May 18, 2017
Professional Standards

The Joint Insolvency Committee (JIC) is consulting on a revised version of the Code of Ethics applicable to insolvency practitioners. The draft Code of Ethics (the draft Code) has been developed by a JIC working group comprising a variety of insolvency stakeholders including HM Revenue and Customs, Max Recovery and representatives from the Recognised Professional Bodies (the RPBs). An Explanatory Note has been produced to accompany the consultation which sets out in more detail the background to the need to revise the Code and the approach adopted in developing the draft Code. The JIC working group have also recognised that activities leading to insolvency appointments, particularly in the personal/consumer debt insolvency arena, bear little recognition to the landscape when the Code was introduced. Services offered by firms or groups in which IPs operate are far greater than the accountancy or legal practice in which IPs have traditionally been associated with. The sections within the Code pertaining to Obtaining specialist advice and services, Fees and other types of remuneration and Obtaining insolvency appointments are of key concern given developments since the Code was last reviewed. It is felt that this area is of such fundamental importance that specific consultation on stakeholder views should be undertaken prior to deciding on whether the Code should be revised in these areas. Further context to consultation in this area is also provided in the Explanatory Note. It is intended that the revised Code of Ethics will apply UK wide.  A Questionnaire is provided to submit your response with the consultation closing on 25 July 2017.

May 09, 2017