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Following the cessation of the temporary 9 percent VAT rate applying the goods and services in the tourism and hospitality sector on 31 August 2023, Revenue has updated several VAT Tax and Duty Manuals to reflect the application of the 13.5 percent rate of VAT from 1 September 2023: VAT Treatment of Food and Drink Supplied by Wholesalers and Retailers VAT Treatment of Restaurant and Catering Services VAT Treatment of Guest and Holiday Accommodation VAT treatment of Admission fees for entry to Historic Houses and Gardens VAT treatment of Admission to Amusement parks and Fair grounds VAT treatment of Services connected with immovable property Supply of Printed Matter

Revenue has published a new Tax and Duty Manual which provides guidance on the new Vacant Homes Tax (VHT) introduced in Finance Act 2022. VHT is an annual tax that applies to residential properties in use as a dwelling for less than 30 days in a 12-month chargeable period. The first chargeable period applies from 1 November 2022 to 31 October 2023 and the electronic return is due on or before 7 November 2023. The manual outlines in detail when VHT applies, when properties are outside the scope of the tax, the obligations on chargeable persons, Revenue powers and certain exemptions that can be claimed. VHT is charged at three times the base Local Property Tax (LPT) rate (the rate excluding any local adjustment factor). It is charged in addition to LPT.

Tunisia deposited its instrument of ratification for the Multilateral Convention to Implement Tax Treaty Related Measures (“MLI”) to Prevent Base Erosion and Profit Shifting. The MLI now covers around 1,850 tax treaties.

The OECD has published a paper comparing the tax treatment of labour and capital income. The authors have compared the effective tax rates (“ETRs”) for taxpayers earning different levels and types of incomes which demonstrates that dividend income and capital gains are generally subject to lower ETRs than wage income. In their view, this has implications for both efficiency and equity.

The Minister for Finance, Michael McGrath TD, has welcomed growth in Modified Domestic Demand (MDD) in the second quarter of the year Despite the growth, the Minister noted that there were ‘several headwinds’ including constraints in infrastructure and slower growth among trading partners, and that it would be against this backdrop that Budget 2024 would be framed. The Minister for Finance, Michael McGrath TD, has welcomed growth in Modified Domestic Demand (MDD) in the second quarter of the year. Despite the growth, the Minister noted that there were ‘several headwinds’ including constraints in infrastructure and slower growth among trading partners, and that it would be against this backdrop that Budget 2024 would be framed. The figures as reported by the CSO in its publication of the Quarterly National Accounts showed that while MDD expanded by one percent relative to the previous quarter, consumer spending increased by 0.9 percent while GDP increased by 0.5 percent over the quarter. However, GDP was down 0.7 percent on an annual basis, reflecting the volatility of production in the multinational sectors and falling demand for certain pharma exports. Commenting on the figures, Minister for Finance, Michael McGrath T.D., said: “Firstly, while GDP was up on a quarterly basis in the second quarter, I am conscious that it fell by -0.7 per cent relative to the same period last year. This reflects a fall in Covid-related pharmaceutical exports triggered by the passing of the pandemic, as well [an] easing exports associated with so-called ‘contract manufacturing’. As has been well documented, multinational production in Ireland is extremely volatile and, given the outsized role the multinational sector plays in our economy, GDP is clearly not a useful measure of domestic living standards. In terms of the domestic economy, I am encouraged to see that Modified Domestic Demand (MDD) – my preferred metric of domestic economic activity – grew at a solid pace in the second quarter of the year. These data are consistent with trends in the labour market, where figures published last week show employment at its highest level ever at end-June. Importantly, consumer spending was a key driver of growth in the second quarter, increasing by 0.9 per cent over the quarter. This reflects a number of factors including the easing in inflationary pressures over recent months, the strength of our labour market and the role that Government support has played in supporting households. With three-quarters of our working age population in employment – a record high – this should support continued expansion of consumer spending in the coming quarters. While today’s data confirm continued growth in the domestic economy, I am conscious of several headwinds. Our economy is clearly operating at full-employment and capacity constraints, in both our housing and labour markets, are increasingly binding. Externally, growth is slowing in some of our main trading partners, and this could have knock-on implications for Irish exports. It is against this backdrop that Budget 2024 is being framed. We will, once again, need to strike the right balance: ensuring that budgetary policy is calibrated in a manner which avoids adding to the price pressures in our economy while, at the same time, supporting households and delivering the infrastructure and public services that our society needs.”

Derarca Dennis sheds light on the pivotal role CFOs and the finance function play in shaping organisations and the growing significance of talent management in their evolving roles The EY Ireland CFO Survey 2023 has found that CFOs and the finance function are playing an increasingly strategic role in their organisations. They are engaging more with other business areas, requiring new skills and an increased focus on talent management. While automation and advanced data analytics capabilities will undoubtedly be critically important in supporting the future role of the finance function, talent retention must remain a key area of focus if it is to fulfil its potential. Forty percent of the CFOs surveyed said their priority for driving growth in the coming year is investing in upskilling existing talent in their organisations, while 34 percent said investing in new talent would be a priority. Investing in diverse talent Continued investment in diverse talent will be imperative given the finance function’s evolving and increasingly business-critical role. The changing nature of finance reporting requires CFOs to master a diversity of skills, especially a deep understanding of non-financial factors. It requires them to make profound changes in the composition of finance teams. Future finance teams will augment their traditional finance skills with environmental, social and governance (ESG) professionals while also containing data analysts, supply chain experts and process engineers. Finance teams will, of course, be finance experts at their core, but they will also draw upon a diverse talent pool to enable the function to play its full role as a strategic partner in the overall business. On a continuous learning curve A culture of continuous learning that empowers employees to work at their best and realise their potential is a proven talent retention strategy. Not only does it deliver increased job satisfaction, but it opens up new career opportunities within the organisation. However, organisations must also seek to automate the dull, repetitive tasks traditionally undertaken by the finance function, allowing finance professionals to focus on more value-added work. Where tasks cannot be automated, CFOs can fill capability gaps by sourcing the required skill sets through professional service partners. These organisations can offer a range of services from basic accounting activities, record-to-report activities and control monitoring and testing, to day-to-day treasury operations, typically on a managed service basis, leaving the finance function to focus on business strategies, forecasting and stakeholder management. Future-fit CFOs To thrive in the evolving landscape, CFOs must consider a holistic approach, which involves: talent management strategies aimed at upskilling existing employees and attracting and retaining recruits; acquiring the diverse skills that will make the finance function fit for its increasingly strategic role in the organisation; leveraging existing capability within other departments to support the finance function; outsourcing or co-sourcing elements of the finance function to external partners on a managed service basis; and stemming employee turnover by ensuring that processes are future-ready and efficient enough to retain talent interest and engagement. A diverse finance function is the future The changing role of CFOs in Ireland and their teams makes it imperative to focus on people management and acquiring and retaining diverse skill sets. Finance functions of the future will encompass a wide array of professionals whose skill sets will contribute to the organisation’s strategic growth. Ultimately, driving greater value for the organisation hinges upon empowering talented individuals with efficient, automated and data-driven processes across financial and non-financial domains. Derarca Dennis is Assurance Partner at EY Ireland

Organisations adopting AI to streamline processes must provide clear guidance to staff on the dos and don’ts of using the technology, writes Moira Grassick Artificial intelligence (AI) has gone mainstream this year. It seems that everyone has a story about how they have used ChatGPT, the generative AI tool, to make their personal or working life easier. From an employer’s perspective, the rapid progress of AI raises difficult questions, however. Although a chatbot on the company website can be a valuable tool for interacting with customers, there are tricky ethical questions and business risks to consider here. Employers are grappling with issues such as whether staff should be permitted to use AI to make their jobs easier, data protection concerns, and whether the outputs generated by AI tools are accurate enough to rely on. For employers, the key risk to assess is the scale of any damage their business might suffer if staff do not use the technology correctly. Many people are familiar with the US lawyer who used ChatGPT to help him prepare a case with disastrous results. The lawyer cited several cases in court filings that were fabricated by AI. The lawyer didn’t consider that the technology would generate fictitious precedents and was unaware that it might produce inaccurate information. To avoid the embarrassment of making a similar mistake, employers can take some prudent actions to protect their business against the risks posed by employees using AI tools. Develop an AI policy To avoid an embarrassing situation like the one suffered by the hapless US lawyer, your business should consider developing an AI policy. This policy can address specific risks affecting your business. Some of the most common issues arising from the use of AI in the workplace are: Protection of confidential client and employee information While many of the tasks that typically involve the use of AI do not pose any obvious risks, employees must be aware that sensitive company data should not be accessed by AI tools. AI tools analyse vast amounts of data to generate responses to queries, and it’s important that no personal information about your employees or customers is disclosed. If an employee submits confidential information to ChatGPT or any other AI tool, your business is exposed to a range of privacy, commercial and data protection risks. Your AI policy needs to clearly define what types of data employees can submit to AI tools. Intellectual property risks You also need to consider intellectual property risks. If your business publishes content online, it is important to ensure that AI-generated content is not subject to copyright. AI tools typically do not cite the sources of the content they create. Instead, the AI tool may generate output by using existing content that appears on the internet rather than producing original work. Organisations, therefore, cannot check if the publication of AI-generated content will breach someone else’s intellectual property rights. If AI generates someone else’s content, and an organisation publishes it as its own, it is open to reputational damage for plagiarism. Safeguarding the organisation With AI becoming mainstream, now is the time to start preparing your AI policy. To get the most out of AI technology, you must inform staff about how to use the tools responsibly. With a strong policy in place, you can ensure your business can reap the benefits of this powerful new technology while safeguarding your operations against confidentiality, intellectual property and data protection risks. Moira Grassick is Chief Operating Officer at Peninsula Ireland

Safeguarding your organisation’s systems and data against cybersecurity risk is crucial. Mark Butler explores how you can use training to help fortify your defences Safeguarding sensitive information and data is now of paramount concern for businesses across the globe. Irish businesses are no exception. For example, the Health Service Executive was the victim of a high-profile cybersecurity breach in 2021. Virgin Media Television also suffered an “unauthorised attempt” to access its systems in February 2023, disrupting its services. As the adage goes, “A chain is only as strong as its weakest link.” Typically, that link often happens to be an unwitting employee. That’s where comprehensive cybersecurity training and awareness programmes come into play, serving as the bedrock of a resilient defence strategy against cyber threats. Creating a culture of security Effective cybersecurity training and awareness programmes are not just a checkbox exercise; they are the building blocks of a cybersecurity culture that must permeate every corner of an organisation. The entire business ecosystem benefits when employees are well-informed and empowered to recognise and respond to potential threats. There are several steps organisations can take to ensure cybersecurity best practice. 1. Addressing diverse threats The first step in crafting a robust cybersecurity training programme is recognising that threats are diverse and constantly evolving. Tailor training modules to address various risks, including phishing and social engineering. Irish businesses should collaborate with cybersecurity experts to develop engaging, scenario-based training that mimics real-world situations. This approach allows employees to practise identifying and responding to phishing attempts and other threats in a controlled environment. 2. Password management Password hygiene is a fundamental pillar of cybersecurity. Educate employees about the significance of strong, unique passwords and the criticality of regular updates. Encourage the use of password managers to simplify this process and discourage the reuse of passwords across multiple accounts. By instilling good password practices, businesses can significantly reduce the risk of unauthorised access. 3. Identifying and avoiding phishing attempts Phishing attacks remain a pervasive threat, often exploiting human psychology to trick employees into divulging sensitive information. Train employees to scrutinise emails, especially those requesting personal or financial data, by encouraging them to verify the legitimacy of requests through alternative means of communication before taking action. Emphasise the tell-tale signs of phishing, such as mismatched URLs, generic greetings and urgent demands. 4. Navigating digital safety Safe internet usage is not a mere suggestion but a core principle of cybersecurity. Provide guidelines for secure browsing, avoiding suspicious websites and refraining from downloading attachments or clicking on links from unknown sources. Equip employees with the knowledge to identify malicious websites and teach them to recognise secure connections through the HTTPS protocol. 5. Continuous learning and simulated exercises Effective cybersecurity training is not a one-time event; it’s an ongoing process. Regularly update training materials to reflect new threats and techniques employed by cybercriminals. Implement simulated phishing exercises to assess employees’ ability to apply their training in real-world scenarios. These exercises not only evaluate readiness but also serve as valuable learning experiences. Knowledge is power Fostering a culture of cybersecurity hinges on implementing comprehensive training and awareness programmes. Businesses can significantly reduce the risk of breaches and data loss by equipping their team with the tools to recognise and respond to threats. Investing in cybersecurity education is an investment in the long-term resilience and success of the organisation. In a digital landscape, knowledge is power, and empowered employees are the first defence against cyber threats. Mark Butler is the Managing Partner at HLB Ireland

In this week’s Sustainability/ESG bulletin, read how nature may become ‘the new climate’ for financial institutions, a public consultation on ‘value factors’ for natural capital, and the public consultation on Northern Ireland’s carbon emissions, as well as the usual roundup of articles, resources and events. Nature as the new climate Nature could be the new climate for the world’s biggest financial institutions. While most financial firms are reportedly failing to see how the natural world impacts their business, this could change as the impacts of nature on profits becomes increasingly clear. The Taskforce for Nature-Related Financial Disclosures (TNFD) published  a high-level scoping study exploring the case for a global nature-related public data facility. Read more. ‘Value factors’ for natural capital – consultation The Value Commission has launched a public consultation for the co-design and development of transparent global criteria for the creation and the use of value factors for natural capital and other types of capital. Hosted by Capitals Coalition, the Value Commission is a time bound three-year, collaborative project, bringing together commissioners from around the world, including members from Ireland’s INCASE, to drive transparency and accountability across the application and use of these 'value factors'. They are used by businesses for the measurement of the flow of services that come from nature, to interpret that information across their operations for insights on their impacts and dependencies. The consultation closes in October - read more from Natural Capital Ireland. Public consultation on Northern Ireland’s emissions targets The first of three public consultation sessions on Northern Ireland’s Carbon Budgets was hosted this week by the Department of Agriculture, Environment and Rural Affairs (DAERA). This in-person and online event aimed to provide an opportunity for people to contribute on how the threats presented by climate change should be tackled. The findings from this, and the subsequent consultation sessions, will set an agreed carbon budget and targets, and will help inform Northern Ireland’s first Climate Action Plan.  Did you know? Edgbaston is to stage first sustainable cricket match, with the Men’s Vitality IT20 to be the UK’s first climate conscious international cricket match.  Meanwhile, the organisers of the Rugby World Cup are attempting to stop the release of a Greenpeace video, featuring an Irish comedian, satirising the event’s oil company sponsor. Resources The Chartered Accountants Ireland Sustainability Glossary has been updated to include nature positive. This is the term used to describe a world where nature – species and ecosystems – is being restored and is regenerating rather than declining. Jobs Group Sustainability Reporting Manager - Glenveagh Properties plc, Maynooth, County Kildare. Articles Shell and BP among firms accused of greenwashing over renewable energy (Belfast Telegraph) Head to head: Does retrofitting your home pay off? (Irish Times) Upcoming events   Dublin Chamber: The Future of Sustainable Finance  The latest event in our Dublin 2050 series. Dublin has been steadily growing its reputation as a hub for sustainable finance in recent times, making significant progress in advancing sustainable finance practices and attracting investments aligned with ESG principles. This expert panel-led event aims to contribute to knowledge sharing, collaboration, and innovation within the business community. In person, 5 September, 8.30 – 10.00. Dublin Chamber, 7 Clare Street, Dublin 2 Dublin Chamber – Sustainability Academy Workshops Dublin Chamber has announced it will offer Sustainability Academy workshops in Autumn. Beginning with a workshop on Sustainability/ESG 101 in September, the 3-hour Zoom workshops includes a free one-hour, post-workshop one-on-one advisory consultation per company with an expert advisor. Find out more here. Online, September 2023 InterTrade Ireland: The Shared Island Fund – Bioeconomy Demonstration Initiatives Funding opportunity Virtual, 14 September, 10:00 - 11:00. Environment Ireland’s: Environment Conference In person: 14–15 September,  Croke Park, Dublin Business Post LIVE/iQuest: Energy Transition Summit In person: 19 September, Croke Park, Dublin ESDN: European Sustainable Development Week (ESDW) 2023 18 September – 08 October. 113 initiatives in 10 countries. Chartered Accountants Ireland Virtual CPD Update – Career Progression and Transition (ROI/NI) Morning plenary session followed afternoon sessions, run and delivered by the District Societies, including the Western Society session on Sustainability and ESG Reporting (Catherine Duggan, Orla Carolan, Peter Gillen, Susan Rossney). Irish Museum of Modern Art: EARTH RISING Four-day festival of free events and experiences aimed at addressing the climate crisis and aiming to provoke, empower and inspire collective action in audiences to become agents of change for a sustainable and hopeful future. In person: 21–24 September, IMMA site, Royal Hospital Kilmainham, Dublin 8, D08 FW31. DETE: Building Better Businesses North-East Event, Dundalk Institute of Technology The latest in the series of Building Better Business events organised by DETE across the country to help businesses focus on the opportunities and challenges presented by the green economy and digital transformation. This event is open to businesses based in the North East. In person: 22 September, 9.00 - 1.00 -  Multi-Purpose Centre (MPC), Faulkner Building, Dundalk Institute of Technology. EPA: Circular Economy Conference This hybrid event will be an opportunity to learn about recent developments in the circular economy and the opportunities and challenges in implementing a circular economy in Ireland. There will be opportunities to network and participate in polling and Q&A sessions. In person: 27 September, The Aviva Stadium, Dublin. Women in Business (Northern Ireland) Women in Finance Women in Business is running a wide-ranging programme of female entrepreneurship events over the upcoming months. The events include sectoral networking, webinars, and training courses for essential skills. A specific session on women in finance will focus on work in finance departments, small scale accountancy or work for yourself, both members and non-members are welcome to join this online event. Virtual: 25 October, 10.00-11.30am Sustainable Finance Skillnet is offering funded training opportunities until October 2023 to Irish employees in the financial services sector at 30 percent of course fees (with 70 percent funding available for members of the International Sustainable Finance Centre of Excellence). Virtual: September-October 2023 Accountancy Europe: Preparing for high-quality sustainability assurance engagements In person: 3 October, 14.00-17.00, ACE events - Av. d'Auderghem 22, 1040 Brussels Climate Finance Week Ireland 2023 In person and virtual: Monday, 20 November – Friday, 24 November Network for Chartered Accountants working on ESG projects Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities? Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. 3rd or 4th Wednesday of every month Next: 27 September 2023  14.00-15.00/30 Teams If you would like to attend please email sustainability@charteredaccountants.ie   You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.    

Welcome to this week’s Technical Roundup. In case you missed it over the Summer…. The Institute has issued Technical Alert 05/2023 Questions and answers on the Corporate Sustainability Reporting Directive and the European Sustainability Reporting Standards. The Technical Alert provides members with some information about the Corporate Sustainability Reporting Directive (CSRD) and explains when and how members may be impacted by it. The Institute has released Technical Release 02 2023 Solicitors Accounts Regulations 2023. This publication has been jointly developed by the member bodies of the Consultative Committee of Accountancy Bodies – Ireland (CCAB-I). The Law Society have recently introduced new Solicitors Accounts Regulations, which came into operation on 1 July 2023, and apply to accounting periods beginning on or after that date. TR 02/2023 is intended to provide information for members undertaking reporting engagements in accordance with the Regulations. It replaces Technical Release 01/2016 Solicitors Accounts Regulations 2014 – Republic of Ireland. The Technical Release summarises some of the key requirements of the Regulations which are available on the website of the Law Society of Ireland. Read more on these and other developments that may be of interest to members below. Financial Reporting The FRC issued amendments to FRS 101 and FRS 102 relating to the OECD's Pillar Two model rules. These amendments mirror similar changes made at international level to IAS 12 Income Taxes and introduce a temporary exception to accounting for deferred taxes arising from the implementation of the Pillar Two model rules, alongside targeted disclosure requirements. The Financial Reporting Technical Committee of Chartered Accountants Ireland issued its response to the International Accounting Standards Board’s Exposure Draft Amendments to the Classification and Measurement of Financial Instruments Proposed amendments to IFRS 9 and IFRS 7. The Financial Reporting Council (FRC) has published the 21st edition of its Key Facts and Trends (KFAT) report, providing the latest statistical information and trends on the UK accountancy and audit profession. The FRC will be hosting some roundtables throughout September to gain stakeholder views on the new corporate reporting requirements. EFRAG has published its Final Comment Letter in response to the IASB's Exposure Draft 2023/2 Amendments to the Classification and Measurement of Financial Instruments (Proposed amendments to IFRS 9 and IFRS 7) (‘the ED’).  The International Accounting Standards Board (IASB) has concluded its decision-making on two projects—its final steps before drafting and balloting two new IFRS Accounting Standards. The first of these forthcoming Accounting Standards is designed to clarify and enhance information companies provide about their financial performance. The other will simplify the financial statements prepared by subsidiaries of listed groups. Audit IAASA has published guidelines for the Recognised Accountancy Bodies to apply to their approval and resignation function in respect of Statutory Auditors and Audit Firms. These are effective from 1 June 2024. Sustainability In July, the Institute issued its response to the European Commission’s request for Feedback on its Draft Delegated Act. Following its consideration of the various responses to the request for feedback, the European Commission (EC) adopted the European Sustainability Reporting Standards (ESRS) on 31 July 2023. This marks a significant milestone in the development of European Sustainability Reporting Standards. The standard will enter into force following its publication in the Official Journal of the European Union and the first wave of entities will report under the ESRS for periods commencing on or after 1 January 2024. The reporting requirements will then be phased-in over the subsequent years to various company types and sizes. Accountancy Europe and the International Federation of Accountants (IFAC) are bringing together a diverse range of stakeholders to discuss the regulatory, policy and standard-setting path toward high-quality sustainability assurance and the main matters covered within the IAASB’s proposed standard. This in person event takes place on 3 October at the Accountancy Europe offices in Brussels. The IAASB issued the proposed, landmark International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements, for public consultation on August 2. When approved, ISSA 5000 will be the most comprehensive sustainability assurance standard available to all assurance practitioners across the globe. It will apply to sustainability information reported about any appropriate sustainability matter and prepared under any suitable framework. It will also apply for both limited and reasonable assurance engagements. The Financial Reporting Council (FRC) Lab has published a new report titled “ESG Data Distribution and Consumption” examining how investors obtain and use environmental, social and governance The Financial Reporting Council (FRC) has also published a thematic review, assessing the quality and maturity of climate-related metrics and targets disclosures. The International Organization of Securities Commissions (IOSCO) has announced its endorsement of the International Sustainability Standards Board’s (ISSB) Standards following its comprehensive review of the Standards. Other News The Financial Reporting Council (FRC) has welcomed the Government’s publication of the draft statutory instrument on corporate reporting, which strengthens reporting requirements for very large companies in the UK. In August, the Financial Reporting Council has published the 21st edition of its Key Facts and Trends (KFAT) report, providing the latest statistical information and trends on the UK accountancy and audit profession; the International Auditing and Assurance Standards Board has issued the proposed, landmark International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements, for public consultation. The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published its latest edition of the Spotlight on Markets Newsletter. The Department for Communities has announced the appointment of Gerard McCurdy as the new Chief Commissioner to the Board of the Charity Commission for Northern Ireland from 1 September 2023 to 31 August 2028.  Mr McCurdy has served on the Board since 1 March 2019 as the Deputy Chief Commissioner and as the Interim Chief Commissioner from December 2022. The Central Bank of Ireland is inviting feedback from stakeholders after publishing a discussion paper on an approach to developing a macroprudential policy framework for investment funds.  The publication aims to advance the ongoing international and European discussions on how a macroprudential perspective in the regulation of the funds sector could be achieved. It outlines key considerations for developing and operationalising such a framework. The closing date for submissions is 15 November. Minister Kevin Hollinrake, on behalf of the Department of Business and Trade, has announced the appointment of Richard Moriarty as CEO of the Financial Reporting Council (FRC), succeeding Sir Jon Thompson. The European Securities and Markets Authority (ESMA) has published a Report on Suspicious Transactions and Order Reports (STORs). The report provides an overview of how STORs are used across different jurisdictions in the context of the detection and investigation of market abuse, and how their use has evolved over time.   In July, IAASA responded to the IESBA (International Ethics Standards Board for Accountants) consultation on its Proposed Strategy and Work Plan, 2024-2027. The European Commission is adopting a package of infringement decisions due to the absence of communication by Member States of measures taken to transpose EU directives into national law For further technical information and updates please visit the Technical Hub on the Institute website.