Welcome to the latest edition of Technical Roundup.  In developments since the last edition, the International Federation of Accountants (IFAC) has issued five videos that capture the key themes from a recent panel discussion on the implications of artificial intelligence on business and the accountancy profession.  IAASA has published its observations on Wave 1 Corporate Sustainability Reporting Directive (CSRD) reporting summarising key findings from their supervisory work during the first year of CSRD implementation in Ireland. Read more on these and other developments that may be of interest to members below.  Financial Reporting   The European Financial Reporting Advisory Group (EFRAG) has published its feedback statement on its discussion paper “The Statement of Cash Flows-Objectives, Usages and Issues”. EFRAG has published its November 2025 Update. The International Accounting Standards Board (IASB) has issued its December 2025 update and podcast. The IFRS Interpretations Committee (IFRIC) has issued its November 2025 Update. The UK Endorsement Board (UKEB) has adopted IFRS 18 Presentation and Disclosure in Financial Statements for use in the UK. The standard was issued by the IASB in April 2024 and replaces IAS 1 Presentation of Financial Statements. The standard is effective for periods commencing on or after 1 January 2027, with early application permitted. In their 10 December Episode of the Financial Reporting Council's In Conversation podcast series, Kate O'Neill, Director of Stakeholder Engagement and Corporate Affairs, is joined by Anthony Barrett, Executive Director of Supervision, and Jamie Symington, Deputy Executive Counsel, to discuss the progress of the FRC's consultation on proposed amendments to the Audit Enforcement Procedure which launched in October 2025. Auditing and Assurance  The Financial Reporting Council (FRC) has issued a consultation on its draft plan and budget for 2026-27 which sets out its priorities and resources for the year ahead. Accountancy Europe has published a paper setting out principles and good practices to support more effective and coherent audit supervision in the EU, particularly for PIE and cross-border audits where multiple national authorities are involved. Sustainability  In the EU, Omnibus I concluded on 16 December 2025 when the European Parliament (EP) approved a provisional agreement to simplify and reduce the scope of sustainability reporting and due diligence requirements for companies. Only EU companies with over 1,000 employees on average and a net annual turnover exceeding €450 million will be in scope for the CSRD. The CSDDD will apply only to EU companies with over 5,000 employees and a net annual turnover above €1.5 billion. Please see the final text of the proposal which provides further details. Accountancy Europe has shared some of its views in relation to the political compromise on the  Sustainability Omnibus Proposals. The International Sustainability Standards Board (ISSB) has issued targeted amendments to greenhouse gas (GHG) emissions disclosure requirements in IFRS S2 Climate-related Disclosures in response to specific application challenges that were identified as companies started to apply the Standard. The International Sustainability Standards Board (ISSB) and the German Standard-Setter (ASCG) are jointly hosting the second Sustainability Standards Conference in Frankfurt on 18 May 2026. The ISSB has published its December 2025 update and podcast. IAASA has published its observations on Wave 1 CSRD reporting, summarising key findings from their supervisory work during the first year of CSRD implementation in Ireland. The European Financial Reporting Advisory Group (EFRAG) has published three guides to help SMEs report on disclosures identified as particularly challenging in the public consultation and field test on VSME. EFRAG has also published its report into the VSME Market Acceptance. This explores the level of awareness in relation to the VSME, as well as its acceptance as a voluntary sustainability reporting tool. GRI, the Global Reporting Initiative, has conducted research into the value of sustainability reporting. In 22 of the 30 studies reviewed by GRI, a positive correlation was found between companies who disclose their sustainability impacts and improved financial performance. Anti-money laundering and sanctions  Chartered Accountants Ireland, the Central Bank of Ireland, and the EU Sanctions Helpdesk will hold an online webinar on 20th January at 10.30am, which will provide practical compliance support and guide participants through the essentials of EU sanctions compliance, the support available to Irish businesses, and how the EU Sanctions Helpdesk assists SMEs. Through real-world case studies, participants will gain valuable insights into how to navigate due diligence challenges. There will be a Q&A with the panel. Registration is available at the following link. The European Commission announced planned changes to the list of high-risk jurisdictions including adding Russia to the list in order to strengthen the international fight against financial crime. In addition, updates were also announced for the high-risk jurisdictions list following the decisions taken at the FATF and its list of ‘Jurisdictions under Increased Monitoring’ (‘grey list’), following the FATF Plenaries of June and October 2025. For further information regarding the planned changes to the list of high-risk jurisdictions, please refer to the following details recently published by European Commission. These changes will not enter into force until published in the Official Journal. Chartered Accountants Ireland announced the issuance of a Technical Alert (TA 05/2025) covering an outline of selected changes under the European Union 6th Anti Money Laundering Package (AMLD6). A copy of the TA is available at the following link. The HM Treasury in the UK published its Anti-Money Laundering and Counter-Terrorist Financing Supervision Report providing information about the activities of AML and counter-terrorist financing (CTF) supervisors (including accountancy Professional Body Supervisors (PBSs)) for the 2024-2025 financial year. This fulfils HM Treasury’s obligation, under Regulation 51 of the Money Laundering Regulations (MLRs), to publish an annual report on supervision activity using information requested from supervisors.  The Central Bank of Ireland published the first edition of its Financial Crime Bulletin. The purpose of this biannual bulletin is to provide an update on key regulatory and supervisory developments in the areas of AML, Combatting the Financing of Terrorism (CFT), Financial Sanctions (FS), and Fraud.  FATF published results regarding Belgium's recent Mutual Evaluation Report (MER) outlining an assessment of the measures used to counter money laundering, terrorist financing and proliferation financing.  Accountancy Europe published a recap summarising the stakeholder dialogue roundtable, which was held in November to discuss ‘Shaping the future of AML standards’. It was hosted by Accountancy Europe, together with FSR - Danish Auditors. The roundtable included representatives from the EU’s Anti-Money Laundering Authority (AMLA), the European Commission, the Danish EU Presidency, and non-financial sector entities, including auditors, accountants, tax advisers, lawyers, and notaries. The AMLA slide presentation is also available at the following link. AMLA announced the steps it is currently taking to harmonise EU AML supervision and the supporting instruments it will use to assess risks and how AMLA will select the entities it will directly supervise. In this context, AMLA published the draft RTS on risk assessments, which specifies data points and criteria that national supervisors will use to assess the entities they supervise. The draft RTS on selection was also published, which will apply these same data points and criteria to set out how AMLA will assess risks for the purposes of selecting entities for direct supervision. As part of its preparation for direct supervision, AMLA also launched a public consultation on draft implementing technical standards that set out how AMLA and national financial supervisors will cooperate during the selection process and when transferring supervisory powers for institutions or groups that will be directly supervised by AMLA. Stakeholders are invited to provide input through the public consultation by 27 January 2026.  AMLA also published a public statement outlining its approach regarding the public consultation process. Fraud The UK Government announced its new UK Anti-Corruption Strategy covering its approach to stopping corruption at home and abroad. It builds on the 2017 to 2022 strategy and reflects the evolving nature of the threats posed by corruption to the UK’s economy, security and democracy. The European Banking Authority (EBA) and European Central Bank (ECB) published a report regarding the 2025 edition of their joint report on payment fraud. The report covers the semi-annual data for 2022 to 2024 and confirms that the legal requirement for strong customer authentication (SCA) introduced in 2020 has contributed to reducing fraud levels. However, it also highlights the need for continued vigilance and for security measures to be adapted to combat new emerging types of fraud. The three European Supervisory Authorities (EBA, EIOPA and ESMA - ESAs) published key tips to help consumers detect, prevent, and act on online frauds and scams. The tips including details on how to stay alert are outlined in two factsheets regarding crypto frauds and associated scams and online financial frauds and scams in an AI world. The National Cyber Security Centre (NCSC) in the UK announced that almost one billion attempts to access malicious sites were blocked (in less than a year) by a new government cyber tool. The Share and Defend service developed by experts at NCSC works to disrupt online crime and fraud by sharing near real-time data on known fraudulent and malicious websites with internet service providers, which can then prevent customers from clicking through.  Central Bank of Ireland (CBI) The CBI launched a public consultation on the implementation of the CBI's new responsibilities under the Access to Cash legislation. The public consultation covers two parts of the new Access to Cash regime including the identification of local deficiencies in the cash infrastructure and setting minimum ATM service standards and notifications requirements for firms operating ATMs. The CBI's Governor Gabriel Makhlouf delivered a speech to the eighth meeting of the Climate Risk and Sustainable Finance Forum covering climate risk and sustainable finance in Ireland and the EU, and the progress that has been made to date, highlighting the need to ensure climate action remains a priority for the financial sector. The speech also emphasised the Central Bank’s focus on climate risk and sustainable finance and continued encouragement to promote a collaborative approach to how the financial sector supports the transition and adaptation to net-zero. The CBI published a report regarding the roadmap to deliver a more effective and efficient regulatory framework building on the work of the CBI in terms of the integrated supervisory approach. The report outlines how the Central Bank will, in line with initiatives across Europe, enhance the effectiveness and efficiency of its supervision and domestic regulatory framework, improve gatekeeping processes, and deliver a more integrated and less burdensome reporting and data framework.  The CBI announced a consultation regarding the application of the Consumer Protection Code 2025 (CPC 2025) to all regulated credit union activities. The consultation paper sets out the rationale for this position and outlines the proposed approach for applying CPC 2025 to all regulated credit union activities. The CBI's Governor Gabriel Makhlouf delivered a speech to The Royal Irish Academy covering economic resilience and priorities needed in this area in the context of Ireland, Europe, and at an international level.  The CBI released the first edition of its Payment and E-Money Newsletter. The purpose of the newsletter is to provide updates on key regulatory developments in the Payment and E-Money sector and to signpost relevant upcoming changes. The CBI published its fourth and final Quarterly Bulletin of 2025. The bulletin noted that the outlook for the Irish economy in the medium term is being shaped by differing sectoral performances, ongoing structural change, geopolitical tensions and policy actions both at home and abroad.  The CBI published its quarterly Insurance Newsletter covering supervisory insights and updates for the insurance sector. Artificial Intelligence (AI) The International Federation of Accountants (IFAC) has issued five videos that capture the key themes from a recent panel discussion on the implications of artificial intelligence on business and the accountancy profession. The Oireachtas Joint Committee on Artificial Intelligence announced the issuance of its First Interim Report, which includes 85 recommendations on Ireland’s approach to the development, deployment, regulation, and ethical considerations of AI, and on the means of ensuring that the approach supports economic growth, innovation, public trust, and societal benefit while safeguarding rights and mitigating risks. The First Interim Report is available at the following link. The NCSC in the UK published an alert on the "dangerous” misunderstanding of emergent class of vulnerability (AI prompt injection) in generative AI applications. The NCSC has shared critical insights cautioning cyber security professionals against comparing prompt injection and more classical application vulnerabilities classed as Structured Query Language (SQL) injection. It suggests efforts should turn to reducing the risk and impact of prompt injection and driving up resilience across AI supply chains. Full details are available at the following link. Cybersecurity  The European Union Agency for Cybersecurity (ENISA) published the annual NIS Investments report, which presents the findings of a survey conducted by ENISA to explore how cybersecurity policy translates into practice across organisations in the EU and its effects on their investments, resources, and operations. The report calls out key highlights noting that investment focus is shifting from people to technology and outsourcing, and the fact that supply chain risk is still prevalent. ENISA organised a webinar to discuss the latest developments and considerations on engineering personal data protection in the Post-Quantum Cryptography (PQC) era. For details regarding this webinar including related slides, please refer to the following link. The NCSC in the UK published a 'Cyber Essentials Supply Chain Playbook' providing a guide that will help companies protect their business from cyber-attacks through support with embedding cyber essentials in the supply chain. The National Cyber Security Centre (NCSC) in Ireland published an alert regarding critical vulnerabilities in React server components. The NCSC 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. Digital Operational Resilience Act (DORA) The CEAOB responded to the European Commission in the context of the DORA review clause (Article 58(3)) to assess the applicability and possible extension of DORA to statutory auditors and audit firms.  Other news  The European Commission announced the market integration package, which aims to fully integrate EU financial markets and it is designed to remove barriers and unlock the full potential of the EU single market for financial services. This package is a central component of the European Savings and Investments Union (SIU) strategy. The proposals must now be negotiated and approved by the European Parliament and the Council. Please see attached factsheet regarding this package. The European Data Protection Board (EDPB) published various updates including recommendations to make online shopping more respectful of users’ privacy as part of an ongoing public consultation. It also released details of a preliminary discussion regarding the Digital Omnibus proposal. The ECB published a blog regarding the digital Euro outlining how the ECB plans to prepare for the potential issuance of the digital euro by 2029, assuming the European co-legislators adopt the necessary regulation by 2026. Preparatory steps, including pilot exercises and initial transactions, could begin as early as mid-2027. The ECB published a press release regarding the Governing Council proposal for simplification of the EU banking rules.  Cathy Shivnan, the Corporate Enforcement Authority’s (CEA) Director of Insolvency Supervision, recently featured in the All-Ireland Business Foundation's Entrepreneur Times discussing the CEA's public protection role when it comes to insolvency supervision and director accountability and responsibilities. For further details, please read the full piece here. The Financial Conduct Authority (FCA) in the UK published its ‘Regulatory Initiatives Grid’, which sets out the regulatory pipeline over the next two years. This document provides an overview for the financial services industry and other stakeholders to understand and plan for the timing of regulatory initiatives that may have a significant operational impact on them.  The Professional Standards Department (PSD) of Chartered Accountants Ireland published Issue 43 of the Regulatory Bulletin providing key updates and reminders for members’ attention in various areas including Audit and Assurance, Quality Assurance, and AML. Minister for Enterprise, Tourism and Employment Peter Burke TD, and Minister for Further and Higher Education, Research, Innovation and Science, James Lawless TD recently announced funding of almost €39 million for seven additional projects under Call 7 of the Disruptive Technologies Innovation Fund (DTIF) to foster innovation and collaboration between SMEs, multinationals, and research institutions. The Competition and Consumer Protection Commission (CCPC) published the ‘State of Competition Report’, which assesses how competitive conditions have evolved in Ireland’s non-financial services sector over a 15-year period (2008-2022) and the barriers that most affect entry and expansion in 2025. For further details regarding this report, please see the following link. The Department of Enterprise, Tourism and Employment also welcomed the publication of this report. For further technical information and updates please visit the Technical Hub on the Institute website.       -    The next edition of Technical Roundup will issue on Friday, 9 January 2026   -   Wishing all of our members a very Happy Christmas and best wishes for 2026     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.  

IAASA has published its observations on Wave 1 CSRD reporting, summarising key findings from their supervisory work during the first year of CSRD implementation in Ireland. The paper provides insights from corporate reporting examinations, assurance quality inspections, and highlights the challenges faced by entities and audit firms as they adapt to evolving sustainability reporting requirements. Despite ongoing uncertainties surrounding the Omnibus Directive, IAASA’s supervisory remit for Wave 1 CSRD reporting will continue into 2026. The paper also sets out key messages for the year ahead, including IAASA’s approach in the context of an evolving regulatory landscape. 👉 Read the observations paper to understand the findings and prepare for 2026.

The Solicitors Regulation Authority who regulate solicitors and law firms in England and Wales is consulting on proposals to strengthen the accountants' reports regime. The proposals aim to improve transparency and provide better assurance of compliance by requiring the submission of all qualified and unqualified accountants' reports, firm declarations, and direct report submission to the SRA by reporting accountants.     They welcome feedback from members of the accounting profession to help shape the final requirements. The consultation paper is available on the SRA website SRA | Further consultation on client money in legal services: Protecting the client money that solicitors hold | Solicitors Regulation Authority. The consultation will close at 12.00 on Friday 20 February 2026.

The European Financial Reporting Advisory Group (EFRAG) has published the eagerly awaited draft simplified European Sustainability Reporting Standards (ESRS), along with its technical advice to the European Commission. In its press release, EFRAG have highlighted many of the simplifications implemented which it hopes will help reporting companies integrate sustainability reporting into their business. The simplifications which EFRAG have noted include:  Standards which are “shorter, clearer, easier to understand and to implement” A 61% reduction of datapoints that are required if material Deletion of all voluntary disclosures Substantial reliefs, proportionality mechanisms and ad hoc phasing-in for challenging disclosures Principles based standards for narrative disclosures An emphasis on fair presentation A simplified materiality assessment Measures to reduce pressure in relation to data collection in the value chain Enhanced interoperability with the ISSB standards, with common disclosures preserved where possible    The European Commission will now prepare a Delegated Act to revise the first set of ESRS’s based on EFRAG’s technical advice. Also, on 4 December EFRAG launched the ESRS Knowledge Hub, an interactive online platform designed to support companies, practitioners and stakeholders in navigating the European Sustainability Reporting Standards (ESRS) and broader sustainability reporting materials developed by EFRAG. First time users can click the link to go to the landing page and register to log -in.   

Welcome to the latest edition of Technical Roundup.  In developments since the last edition, IAASA has published its Work Programme for 2026-2028, Accountancy Europe has published a new paper which looks at third party ownership in the European accounting sector and EFRAG has published its eagerly awaited draft simplified European Sustainability Reporting Standards.  Read more on these and other developments that may be of interest to members below.  Financial Reporting   Chartered Accountants Ireland has responded to the IFRS Interpretations Committee (IFRIC) Tentative Agenda Decision on Classification of a Foreign Exchange Difference from an Intragroup Monetary Liability (or Asset) (IFRS 18). In its submission, the Institute highlighted its concerns regarding the Tentative Agenda Decision and encouraged IFRIC to undertake additional technical analysis on the issue to decide whether standard setting on this matter is necessary.  The European Financial Reporting Advisory Board (EFRAG) has updated its Endorsement Status Report to reflect the recent amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates: Translation to a Hyperinflationary Currency.  The International Accounting Standards Board (IASB) has issued its November 2025 update and podcast.  The IASB has issued illustrative examples which demonstrate how companies can apply IFRS Standards when reporting the effects of uncertainties in their financial statements.  In its recently published Exposure Draft entitled “Risk Mitigation Accounting Proposed amendments to IFRS 9 and IFRS 7”, the IASB has proposed a new accounting model which it hopes will “better reflect how financial institutions manage interest rate risk throughout their portfolios”. The Exposure Draft remains open for public comment until 31 July 2026.  As part of its work in response to the IASB research project on the Statement of Cash Flows and Related Matters, the UK Endorsement Board has published its fifth research paper on the topic. This paper covers the prevalence of net debt disclosures globally, their importance to users of financial statements, and how the IASB might improve the accessibility and comparability of this key financial performance metric.  The International Public Sector Accounting Standards Board (IPSASB) has issued an updated IPSAS 33 ‘First-time Adoption of Accrual Basis International Public Sector Accounting Standards’.  Auditing and Assurance  The Irish Auditing & Accounting Supervisory Authority (IAASA) has recently published its Work Programme for 2026–2028.   The Financial Reporting Council (FRC) has published its annual 'Audit Market and competition developments' report, showing that initiatives to promote a more resilient and competitive audit market have supported firms outside of the Big Four to build their share of Public Interest Entity (PIE) audit engagements.  Sustainability  EFRAG has published the eagerly awaited draft simplified European Sustainability Reporting Standards (ESRS), along with its technical advice to the European Commission. In its press release, EFRAG have highlighted many of the simplifications implemented which it hopes will help reporting companies integrate sustainability reporting into their business. The simplifications noted by EFRAG include:  Standards which are “shorter, clearer, easier to understand and to implement”  A 61% reduction of datapoints that are required if material  Deletion of all voluntary disclosures  An emphasis on fair presentation  A simplified materiality assessment  Measures to reduce pressure in relation to data collection in the value chain  Enhanced interoperability with the ISSB standards, with common disclosures preserved where possible  Also, on 4 December EFRAG launched the ESRS Knowledge Hub, an interactive online platform designed to support companies, practitioners and stakeholders in navigating the European Sustainability Reporting Standards (ESRS) and broader sustainability reporting materials developed by EFRAG. First time users can click the link to go to the landing page and register to log -in.  Anti-money laundering and sanctions  Bruna Szego, Chair of AMLA, appeared before the ECON and LIBE Committees of the European Parliament on 2 December 2025 in Brussels, presenting the Authority’s progress, outlining priorities, and responding to MEPs questions on a range of topics. A full recording of the hearing can be viewed at the following link.  The European Parliament published an in-depth analysis regarding the 'Future of Anti-Money Laundering in the European Union' covering AMLA’s institutional mandate, its interaction with national and EU authorities, and its potential evolution in a digitalised financial environment.   In the UK, on December 17 from 11am to 12pm GMT the Foreign, Commonwealth & Development Office and Office of Financial Sanctions Implementation are holding a free webinar about upcoming changes to the UK Consolidated List and UK Sanctions List. In this webinar they will be discussing the change taking place on the 28 January 2026, an explanation of what improvements are being made to the UK Sanctions List and its search tool and steps to take to ensure you are prepared.  Central Bank of Ireland (CBI)  The CBI hosted the fourth annual Financial System Conference on November 25. At the opening of the conference, Governor Gabriel Makhlouf delivered a speech regarding 'Better Rules, Better Outcomes: The Next Evolution in Financial Regulation'.   The CBI welcomed the announcement by the Tánaiste and Minister for Finance regarding legislation relating to the Finance (Provision of Access to Cash Infrastructure) Act 2025. For more details regarding this legislation, please refer to the following link.  Following a consultation earlier this year, the CBI published updates regarding the Fitness and Probity area including a Feedback Statement and the revised Guidance on Standards of Fitness and Probity.   The CBI published the Investment Firm and Intermediary Newsletter. The newsletter includes updates regarding a recent operational resilience thematic risk assessment, implementation of the Individual Accountability Framework (IAF), financial scams and fraud, and the Consumer Protection Code 2025.  The CBI's Deputy Governor Colm Kincaid delivered a speech regarding 'Strengthening Consumer Protection and Supervision in an Increasingly Digitalised World' at the joint International Financial Consumer Protection Organisation (FinCoNet) and Central Bank of Ireland international seminar. This seminar was held as part of the recent 2025 Annual General meeting of FinCoNet in Dublin.   The CBI announced the publication of a report regarding 'Retail Investor Participation in Ireland - Consumer Research and Analysis', which concludes that Irish households are not realising the full benefit of investment options. The report outlines that Ireland has among the lowest levels of direct retail participation in capital markets in the EU, with people tending to prefer to hold their wealth in property, life assurance and pensions, and the fact that Ireland does not yet have all the key factors to success in place to support retail investment.  The CBI's Deputy Governor Vasileios Madouros delivered a speech at the Climate Finance week outlining the macro financial effects of climate change in Ireland. The speech also focused on outlining the fact that progress towards decarbonisation has been slower than intended by the Paris Agreement and highlighted the continued focus of the CBI on climate change and associated risks despite shifting priorities globally.   The CBI's Deputy Governor Colm Kincaid addressed the Joint Oireachtas Committee on Finance, Public Expenditure, Public Service Reform and Digitalisation regarding digital banking focusing on the work of the CBI in the area of digital frauds and scams, and the CBI's evolving approach to supervising financial services provided digitally. For details of the speech, please refer to the following link.   Artificial Intelligence  The European Banking Authority (EBA) published an update regarding the 'AI Act: implications for the EU banking and payments sector', which includes an AI Act mapping exercise.  Cybersecurity  The NCSC in Ireland launched its 2025 National Cyber Risk Assessment. This is a comprehensive review of the cyber threats, systemic risks, and sectoral vulnerabilities facing the State and highlights increasingly sophisticated nation-state activity, the accelerating pace of cybercrime, and growing likelihood of cascading impacts across interconnected sectors. The 2025 National Cyber Risk Assessment is available at the following link.  The National Cyber Security Centre (NCSC) in Ireland published an alert regarding critical vulnerabilities in the Mattermost product. The NCSC 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 Mattermost.  The NCSC in the UK recently published an article calling for all small businesses to act in relation to cybersecurity including using the NCSC's Cyber Action Toolkit.   A report was published by Munster Technological University (MTU) regarding 'SME Cyber Resilience - State of the Sector 2025' in collaboration with the NCSC in Ireland. The report concludes that Ireland's small and medium enterprises (SMEs) face a critical cyber resilience gap.  Other news  The Charity Commission for Northern Ireland will hold its annual public meeting on Thursday, 22 January 2026 from 10.30am to 12.30pm at Malone House, Barnett Demesne, Belfast, BT9 5PB.  Minister of State for Trade Promotion, Artificial Intelligence and Digital Transformation Niamh Smyth recently announced the launch of a public consultation on proposed changes to the Companies Act 2014 and related legislation.  The consultation remains open until 5pm on Friday, 19 December 2025.The consultation arose from a September 2025 report from the Irish Company Law Review Group on the review of the provisions pertaining to the disclosure of an officer’s residential addresses having regard to company transparency requirements and GDPR. That report was published in November 2025.  The Corporate Enforcement Authority (CEA) has issued their November 2025 newsletter which includes updates on recent events and advocacy work, also the latest developments in company law.   The European Central Bank (ECB) has published their Consumer Expectations Survey results for October 2025.  Accountancy Europe has issued a paper entitled “Beyond Private Equity: Third-party ownership in the accountancy and audit sector”. This paper looks at how third-party ownership, including Private Equity, is reshaping the European accountancy and audit sector.  The Department of Enterprise, Tourism and Employment has carried out a periodic critical review of IAASA, as required by the Code of Conduct for the Governance of State Bodies. This report outlines that IAASA is performing well in undertaking its standard setting, supervisory enforcement and advisory functions and set out some recommendations for the Authority.  The European Parliament and Council of the European Union negotiators announced a provisional agreement on the Payment Services Regulation and the Third Payment Services Directive (PSD3). The deal focuses on a more open and competitive EU payment services sector, with strong defences against fraud and data breaches to focus on more protection from online fraud and hidden fees. In terms of next steps, the deal needs to be formally adopted by the Parliament and Council before it can come into force with exact implementation timelines not yet confirmed. The Banking and Payments Federation Ireland (BPFI) also published a statement welcoming the provisional agreement of the EU Payment Services Regulation (PSR).  The European Commission recently announced the 'European 2030 Consumer Agenda', which focuses on the strategic vision for EU consumer policy. The agenda focuses on an action plan for consumers in the Single Market, digital fairness and consumer protection online, stronger enforcement, and sustainable consumption. For details of the agenda, please refer to the attached document and factsheet.   The European Central Bank (ECB) has published a press release outlining an overview of financial stability vulnerabilities for the Euro area, which are included in the ECB's November 2025 Financial Stability Review. The review highlights that financial stability vulnerabilities remain elevated given uncertainty over geoeconomic trends and tariff impacts.   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.  

In November 2025, the Financial Conduct Authority (FCA), published findings from a 2025 FCA multi-firm review focusing on business-wide risk assessment and customer risk assessment processes. The FCA fed back its findings on firms identifying, understanding and assessing risk, mitigating risk and managing risk. The findings highlight good and poor practice to help firms reflect on how they are meeting the existing risk assessment requirements. While firms involved in this review are part of FCA regulated population such as building societies, e-money payments firms and wealth management firms, there are general learnings which can be taken from the findings. This information is provided as resources and information only and nothing in these pages 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 pages. 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 these pages, 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 in these pages.