• Current students
      • Student centre
        Enrol on a course/exam
        My enrolments
        Exam results
        Mock exams
      • Course information
        Students FAQs
        Student induction
        Course enrolment information
        F2f student events
        Key dates
        Book distribution
        Timetables
        FAE elective information
        CPA Ireland student
      • Exams
        CAP1 exam
        CAP2 exam
        FAE exam
        Access support/reasonable accommodation
        E-Assessment information
        Exam and appeals regulations/exam rules
        Timetables for exams & interim assessments
        Sample papers
        Practice papers
        Extenuating circumstances
        PEC/FAEC reports
        Information and appeals scheme
        Certified statements of results
        JIEB: NI Insolvency Qualification
      • CA Diary resources
        Mentors: Getting started on the CA Diary
        CA Diary for Flexible Route FAQs
      • Admission to membership
        Joining as a reciprocal member
        Admission to Membership Ceremonies
        Admissions FAQs
      • Support & services
        Recruitment to and transferring of training contracts
        CASSI
        Student supports and wellbeing
        Audit qualification
        Diversity and Inclusion Committee
    • Students

      View all the services available for students of the Institute

      Read More
  • Becoming a student
      • About Chartered Accountancy
        The Chartered difference
        Student benefits
        Study in Northern Ireland
        Events
        Hear from past students
        Become a Chartered Accountant podcast series
      • Entry routes
        College
        Working
        Accounting Technicians
        School leavers
        Member of another body
        CPA student
        International student
        Flexible Route
        Training Contract
      • Course description
        CAP1
        CAP2
        FAE
        Our education offering
      • Apply
        How to apply
        Exemptions guide
        Fees & payment options
        External students
      • Training vacancies
        Training vacancies search
        Training firms list
        Large training firms
        Milkround
        Recruitment to and transferring of training contract
      • Support & services
        Becoming a student FAQs
        School Bootcamp
        Register for a school visit
        Third Level Hub
        Who to contact for employers
    • Becoming a
      student

      Study with us

      Read More
  • Members
      • Members Hub
        My account
        Member subscriptions
        Newly admitted members
        Annual returns
        Application forms
        CPD/events
        Member services A-Z
        District societies
        Professional Standards
        ACA Professionals
        Careers development
        Recruitment service
        Diversity and Inclusion Committee
      • Members in practice
        Going into practice
        Managing your practice FAQs
        Practice compliance FAQs
        Toolkits and resources
        Audit FAQs
        Practice Consulting services
        Practice News/Practice Matters
        Practice Link
      • In business
        Networking and special interest groups
        Articles
      • Overseas members
        Home
        Key supports
        Tax for returning Irish members
        Networks and people
      • Public sector
        Public sector presentations
      • Member benefits
        Member benefits
      • Support & services
        Letters of good standing form
        Member FAQs
        AML confidential disclosure form
        Institute Technical content
        TaxSource Total
        The Educational Requirements for the Audit Qualification
        Pocket diaries
        Thrive Hub
    • Members

      View member services

      Read More
  • Employers
      • Training organisations
        Authorise to train
        Training in business
        Manage my students
        Incentive Scheme
        Recruitment to and transferring of training contracts
        Securing and retaining the best talent
        Tips on writing a job specification
      • Training
        In-house training
        Training tickets
      • Recruitment services
        Hire a qualified Chartered Accountant
        Hire a trainee student
      • Non executive directors recruitment service
      • Support & services
        Hire members: log a job vacancy
        Firm/employers FAQs
        Training ticket FAQs
        Authorisations
        Hire a room
        Who to contact for employers
    • Employers

      Services to support your business

      Read More
☰
  • Find a firm
  • Jobs
  • Login
☰
  • Home
  • Knowledge centre
  • Professional development
  • About us
  • Shop
  • News
Search
View Cart 0 Item

Technical Hub

☰
  • Home
  • Audit and assurance
  • Financial reporting
  • Anti-money laundering
  • Legislation
  • Home/
  • Knowledge centre/
  • Technical Hub/
  • Anti-money laundering /
  • Sanctions/
  • In the news/
  • Technical news item

Technical Roundup 14 October

Oct 14, 2022

Welcome to this week’s Technical Roundup.

In developments this week, IAASA has published a paper setting out information requests that it has raised with companies on their climate-related disclosures in their annual financial reports and did you know about the European Commission’s podcasts? Short episodes are released at the same time as the monthly EU Commission Finance Newsletter on topics related to banks, capital markets, insurance, digital or sustainable finance, anti-money laundering, sanctions, etc.

Read more on these and other developments that may be of interest to members below.

Financial Reporting

In their latest edition of “Insight from SME accountants” series, Accountancy Europe looks at how sustainability matters for the new generation of accountant.

The IASB has produced a series of eight webcasts to explain the Dynamic Risk Management project to date.

The FRC Lab has published a report on the disclosure of net zero commitments. This provides tips for companies on how to consider when disclosing their commitments.

IAASA has published a paper setting out information requests that it has raised with companies on their climate-related disclosures in their annual financial reports.

Anti-Money laundering, sanctions

On 6 October 2022 the European Union announced its eighth package of sanctions. Click here for a press release on the eighth package of sanctions and please also visit our sanctions webpages “Europe & International” for more details of what the eighth package consists of.

HMRC in the UK has recently issued an economic crime supervision annual self-assessment report for the period  1 April 2021 to 31 March 2022 which it says  analyses the extent to which HMRC is meeting its obligations under the Money Laundering Regulations 2017, as well as comparing it to the standards set for professional body anti-money laundering supervisors.

The National Cyber Security Centre Ireland has a quick guide to phishing to help to avoid being phished, spotting the giveaway signs of phishing e-mails, and what to do if you think you’ve already clicked the attacker’s bait.

Other

The Minister for Public Expenditure and Reform recently signed the commencement order for the Protected Disclosures (Amendment) Act 2022 to set 1 January 2023 as the date on which the Act will commence in its entirety. Readers may be aware that the new legislation will substantially amend the Protected Disclosures Act 2014. It will expand the categories of protected person to include protections for volunteers, shareholders, board members and job applicants for the first time. It also expands the wrongs in respect of which a protected disclosure can be made. It imposes requirements on organisations to put internal whistleblowing procedures in place and a new Office of the Protected Disclosures Commissioner will be established. You can read more in the Department’s press release on its website here and we will provide more information to members in due course on this topic.

The Department of Enterprise, Trade and Employment has published its October's Enterprise Newsletter. This includes information about Budget 2023 helping businesses and families with escalating energy costs, the Cross-Government launch of a new National Implementation Plan for the Sustainable Development Goals 2022-2024, and EU trade sanctions in response to situation in Ukraine. There are also details of a new pay agreement providing pay increases and wage structure for early learning and childcare workers, publication of the Final Report of the LEEF High-Level Working Group on Collective Bargaining, and public consultation on the Single Market Emergency Instrument. The newsletter can be found here.

The Pensions Authority has published the results of a survey conducted on trustees’ IORP II preparedness. The survey provides information on pension scheme trustees’ progress since a similar survey was carried out in 2020. The survey findings indicate that while significant progress has been made by scheme trustees to meet the requirements of the Act, there is still work to be done by trustees to ensure compliance ahead of the 1 January 2023 deadline. The survey findings also indicate that most DB scheme trustees surveyed intend to continue their scheme, while almost half of the DC trustee respondents noted an intention to wind up their scheme and move to a master trust. Further information and the results can be found here.

Did you know about the European Commission’s podcasts? Short episodes are released at the same time as the monthly EU Commission Finance Newsletter on topics related to banks, capital markets, insurance, digital or sustainable finance, anti-money laundering, sanctions, etc. The latest one “the on about Anti Money laundering dated 29 September 2022 can be accessed now.

Please also click here to read the European Commission’s latest Banking and Finance newsletter where DG FISMA's Director-General talks about topics including the energy crisis and  sanctions, and includes a short discussion about cryptocurrencies, the current ‘crypto winter’, and the digital euro.

Cathy Shivnan, the Corporate Enforcement Authority’s (CEA) Director of Insolvency Supervision, sat down recently with Graham Kenny of Eversheds Sutherland LLP to talk about the role of the newly established CEA. The CEA is now the competent authority in Ireland for the investigation of breaches of the Companies Acts and the taking of necessary enforcement actions. You can listen here.

For further technical information and updates please visit the Technical Hub on the Institute website. 

The latest news to your inbox

Please enter a valid email address You have entered an invalid email address.

Useful links

  • Current students
  • Becoming a student
  • Knowledge centre
  • Shop
  • District societies

Get in touch

Dublin HQ

Chartered Accountants
House, 47-49 Pearse St,
Dublin 2, D02 YN40, Ireland

TEL: +353 1 637 7200
Belfast HQ

The Linenhall
32-38 Linenhall Street, Belfast,
Antrim, BT2 8BG, United Kingdom

TEL: +44 28 9043 5840

Connect with us

Something wrong?

Is the website not looking right/working right for you?
Browser support
CAW Footer Logo-min
GAA Footer Logo-min
CCAB-I Footer Logo-min
ABN_Logo-min

© Copyright Chartered Accountants Ireland 2020. All Rights Reserved.

☰
  • Terms & conditions
  • Privacy statement
  • Event privacy notice
  • Sitemap
LOADING...

Please wait while the page loads.