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Consultations

Are you aware that Chartered Accountants Ireland responds to consultations from government bodies, regulators and standard setters on your behalf?

Here in the Professional Accountancy Team, we monitor developments in financial reporting, audit and assurance, and insolvency, both locally and internationally, and prioritise consultations which we consider most relevant, or are of most significance, to members. We work closely with our technical Committees in this regard, whose expertise and experience are reflected in the responses.

We respond to consultations to contribute to developments in standards, regulations and law, and to inform policy.

We consider, for example, relevant consultations issued by the following:

  • The International Accounting Standards Board (IASB)
  • The Financial Reporting Council (FRC)
  • The Irish Auditing and Accounting Supervisory Authority (IAASA)
  • The Central Bank of Ireland
  • The International Auditing and Assurance Standards Board (IAASB)
  • The International Ethics Standards Board for Accountants (IESBA)
  • The European Commission

We also correspond and engage on matters relevant to the profession with relevant Government Departments, such as the Department for Business, Energy & Industrial Strategy (BEIS), the Department of Enterprise, Trade and Employment (DETE), the Department of Finance, and other bodies such as the CRO and the Law Society. This engagement includes, for example, making submissions on certain proposed amendments to Company Law.

If you would like to find out more regarding the consultations that we are currently considering, you can find details below.

We publish our responses to consultations as technical representations, numbered sequentially in the year of publication. The representations made on various professional accountancy related matters on your behalf are available here.

Consultation Submission date  
IAASB International Standard on Auditing (ISA) 500, Audit Evidence.
24 April 2023
                      
                                                                                                                           

                                         
                      
                                                                                                                    
                                             
     

 Submitted consultations

Previously submitted consultations are listed below:

Consultation Submission  
 IAASA
Proposed ISA (Ireland) 600 Special Considerations -Audits of Group Financial Statements (Including the Work of Component Auditors)
 9 December 2022  IAASA Group Audits 
 FRC
Proposed ISA (UK) 600 Special Considerations -Audits of Group Financial Statements (Including the Work of Component Auditors)
 8 July 2022  FRC Group Audits
 IESBA
Proposed Revisions to the Code Relating to the Definition of Engagement Team and Group Audits  
 18 May 2022  IESBA Groups
 IAASA
Proposals to adopt Standards for Investment Reporting (Ireland) (‘SIRs (Ireland)’)
 14 April 2022  SIRS Consultation
EU 
This initiative aims to improve the quality of corporate reporting and its enforcement, by addressing shortcomings in the underlying eco-system
4 February 2022 EU Consultation 
IASB
A consultation on draft disclosure requirements for subsidiaries without public accountability.
31 January 2022 IASB Consultation
IASB
A response to the IASB's request for information as part of the post implementation review of IFRS 9- Financial Instruments Classification and Measurement
28 January 2022 IASB Consultation
IAASB
A consultation on a separate standard for audits of financial statements of Less Complex Entities (LCEs) 
26 January 2022 IAASB Consultation
FRC
A response to the FRC's 2021/2022 cycle review of FRS 101 
20 January 2022  

FRC Consultation

IASB
A Consultation seeking to address the "disclosure problem" in Financial Statements
Disclosure requirements in IFRS Standards- A Pilot Approach
12 January 2022 IASB Consultation
IAASA
A consultation on the proposal to adopt ISRE 2410- Review of Interim Financial Information Performed by the Independent Auditor
1 December 2021 IAASA Consultation
IAASA
A consultation on IAASA's proposal to revise Irish Quality Management Standards
26 November 2021 IAASA Consultation
Joint Insolvency Committee
A consultation questionnaire response by the Northern Ireland Insolvency Technical Committee of Chartered Accountants Ireland in relation to SIP 3.1- Individual Voluntary Arrangements
5 November 2021 JIC Questionnaire
FRC
Request for views to inform the periodic review of FRS 102
29 October 2021
FRC Consultation
IAASA
A consultation on the revision of ISA (Ireland) 240
3 September 2021
IAASA Consultation
Central bank of Ireland
Enhancing our Engagement with Stakeholders
15 May 2021 Central Bank Consultation
FRC
FRED 78: Draft amendments to FRS 102 and FRS 105 - COVID-19-related rent concessions beyond 30 June 2021
11 May 2021 FRC Consultation

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