Revenue has updated the Tax and Duty Manual which provides guidance on issues relating to the domestic implementation of the CRS in Ireland.  The updated guidance provides further detail on the requirements for the reasonableness test of self-certificates (question 16). In addition, the manual provides guidance regarding the date of deregistration from CRS for Irish regulated Funds (question 19).  Ireland is one of over 100 jurisdictions that has committed to the Common Reporting Standard (CRS), the agreed global standard for Automatic Exchange of Information (AEOI) of financial account information. 

Do you use HMRC online services? Don’t be caught out by the planned downtime to some services. HMRC are warning about the non-availability of specific services on the HMRC website, a range of services are impacted from 12-16 April 2024. Check the relevant page for information on planned downtime.   In particular, we have been advised that as part of regular maintenance, the following services will be unavailable between the stated times below. The HMRC Service Availability pages will be updated to reflect the affected services.  Services unavailable from 5.30pm Friday 12 April 2024 to 9am 16 April 2024:-  Trusts and Estates;  The Annual Tax on Enveloped Dwellings;  CGT Property Disposal;   EPAYE;  VAT Registration Service;    Claim VAT Enrolment;   VAT View and Change;   Plastic Packaging Tax; and  The Agent Services Account. 

Revenue has made a number of updates to the Pensions Manual following amendments introduced in Finance (No) Act 2023. The main updates reflect:  the exemption from income tax of rental income is subject to registration with the Residential Tenancies Board.  cases where assets of an ARF are used as a loan or as security for a loan to a close company where the ARF owner or any person connected with the ARF owner is a participator.  Revenue will no longer approve any applications for new RACs from 1 January 2024, except where an application has been made to Revenue for approval under this section before this date.   There is now no upper restriction on when benefits must be taken, with PRSA holders aged 75 and over having full access to draw down from their funds as they wish. The lower age limit of 60 is still in place.   Further information is available in eBrief No. 109/24. 

Revenue has updated the Stamp Duty Manual to provide comprehensive guidance on the operation of the levy on authorised insurers under section 125A SDCA 1999.    Section 125A SDCA 1999 provides for a stamp duty to be levied on certain health insurance contracts entered into between health insurers and their customers.  

The Minister for Finance, Michael McGrath TD and the Minister for Public Expenditure, NDP Delivery and Reform, Paschal Donohoe TD, have published the Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024.  The purpose of the Bill is to provide for the establishment of two new funds to support future expenditure by the State.   The Future Ireland Fund (FIF) is i is intended to support future expenditure as the economy is likely to face increased pressures associated with climate change, digitalisation, and an ageing population.  It will support State expenditure in any year from 2041 in a consistent and sustainable manner. It  The Infrastructure, Climate and Nature Fund (ICNF) is intended to support State expenditure from 2026 or in any year thereafter, in the event of a significant deterioration in the economic or fiscal position of the State, and between 2026 and 2030, to support State expenditure on certain environmental projects.   The Bill also provides for the control and management of those funds by the National Treasury Management Agency, and for the dissolution of the National Surplus (Exceptional Contingencies) Reserve Fund and the transfer of the assets of that Fund to the Future Ireland Fund and the Infrastructure, Climate and Nature Fund.  Annual contributions of 0.8 percent of GDP will be made to the FIF from 2024 until 2035, after which further contributions can be provided through a Dáil resolution. Approximately €4.1 billion will also be transferred from the dissolution of the National Reserve Fund in 2024.There is no limit on the potential size of this Fund. €2 billion will be invested in the ICNF each year from 2024 to 2030.  Commenting, the Minister for Finance, Michael McGrath T.D. said:  “Ireland’s public finances are currently in a strong position, underpinned by record Corporation Tax receipts, which last year reached nearly €24 billion. It is essential that we take action now to secure the public finances over the long term to ensure we can meet the future expenditure requirements we know will arise.  This landmark Bill will establish the Future Ireland Fund. The Bill provides for an annual Exchequer contribution from 2024-2035 to the Future Ireland Fund which will ultimately provide a revenue stream to help meet demands posed by a wider range of issues including demographic changes, digitalisation, de-carbonisation and de-globalisation.  With annual contributions, GDP growth and potential return from investments, there is a potential for the fund to grow to around €100 billion by 2035, which will give the State substantial firepower to manage the increased demands on expenditure in the decades ahead.  In addition, the Bill will establish the Infrastructure, Climate and Nature Fund, which will provide an essential buffer for expenditure by the State during an economic downturn. This will help smoothen the investment cycle and help support employment at a critical time of economic distress. The fund will also provide support to designated environmental projects that will contribute to a range of climate, water and biodiversity objectives.”  Further information is available on gov.ie. 

Navigating the complexities of sustainability leadership demands a multifaceted approach, writes Catherine Duggan More companies are grappling with a rising regulatory burden and heightened stakeholder expectations regarding sustainability, presenting the need for a captain to lead the team. Here is a selection of the components that can help make this role successful. 1. Knowledge of the business The impacts, risks and opportunities sustainability presents for each business are unique. Understanding sustainability, along with intimate knowledge of your business operations, stakeholders and future strategic plans, is critical to ensuring the successful integration of the sustainability agenda. 2. Commercial mindset Perhaps more than other disciplines, sustainability tends to attract people who are passionate about the topic and driven by the need to be change-makers. While enthusiasm is certainly necessary, particularly on more challenging days, the ability to consider and incorporate commercial aspects into the wider conversation can prove more effective than passion alone. 3. Risk management While sustainability may be a developing area of expertise in companies, risk management is not. The risk posed by the transition – or failure to transition – to a more sustainable economy can and should be considered through existing risk management processes, enhanced skill sets and frameworks. Being familiar with the vocabulary and the approach that is being taken can help with the incorporation of sustainability considerations. 4. Communication management Many of the sustainability regulations that are being introduced focus on disclosing sustainability-related information to facilitate stakeholder decision-making. The implications of these disclosures must be understood in the wider context of any supervisory oversight. In addition, consistency of investor messaging and alignment with previous external disclosures, public commitments and marketing campaigns are crucial factors for the effective management of external communications. 5. Stakeholder management Getting internal stakeholders onside is the most fundamental skill required to develop and deliver a credible sustainability programme. The ultimate goal of a sustainability function is that it should become business as usual, part of everyone’s day job. Until that point, support is required from all parts of the business at a time when resources are often already at capacity. The ability to tailor messaging to specific functions, outlining the drivers, risks, opportunities and executive support, is critical. 6. Change management All parts of the business will eventually feel the impact of sustainability through the implementation of a new strategy, regulation, processes or responsibilities. Agnostic of sustainability, change management is required to embed this level of transformation and support into the culture of an organisation. 7. Resilience While sustainability aims to deliver long-term resilience for people, the planet and profit, a degree of personal resilience is required to chart the path. In a fluid regulatory environment, an organised and curious mind is needed to develop best practices. A support network is also important to ensure the workload is shared. Building a sustainable future together While the above list may seem unrealistic, it’s important to emphasise sustainability’s ‘team’ nature and the need for support from across the organisation. Identifying a resource proficient in all of the skills outlined above is a challenge. Securing someone with working knowledge of some or all of these areas – and who can upskill – is more achievable. Few people today began their career with the intention of becoming a sustainability professional, but there is now a growing community forging a new path for their companies, with the aim of highlighting the reality that we are all in the same boat and the water is rising. Catherine Duggan is Director of Sustainability at Grant Thornton

Ireland’s CFOs continue to prioritise cost control and efficiency over investment in AI but will they pay the price further down the road? asks Derarca Dennis As Ireland’s Chief Financial Officers (CFOs) step up to future-proof the finance function, their role in leveraging technology to improve efficiencies is becoming increasingly pivotal. According to the EY Ireland CFO Survey 2024, finance leaders are not just looking to elevate business performance, they are also actively seeking to tap into the potential of technology while simultaneously strengthening their collaborative alignment with Chief Technology Officers (CTOs). The continued focus on technology investment is unsurprising, considering that 47 percent of respondents identified manual processes and controls as an area where time is used least efficiently in the finance function. It is perplexing that such a high number of respondents continue to cite manual processes and controls as an area for improvement in the finance function. This suggests that organisations have some way to go in their automation efforts, and significant further investment in technology will be required over the coming years. AI and the finance function Despite the investment in technology, the survey results for artificial intelligence (AI) indicate that it is a low priority for organisations right now. Finance leaders in Ireland are still at the very early stages of Generative AI (GenAI) adoption and are firmly focused on using cost reduction and efficiency gains to realise growth. AI use remains modest, with just 26 percent claiming to have leveraged it for enhanced efficiency, automating manual tasks and risk detection, among other use cases. The uptake of GenAI is even lower at just 15 percent. This may come as a surprise to some. While GenAI has been commanding the headlines over the past 15 months, the technology is still not at the stage where it can be employed to carry out advanced functions in finance departments. CFOs are naturally exercising caution until they see some applications proving that GenAI can be trusted in terms of output and security. Just six percent of respondents say they will leverage advanced AI to enhance the finance function or acquire AI skills in the next two years. The figure for a longer five-year span is only moderately higher, with nine percent saying they will integrate AI and advanced AI into the finance function in that timeframe. The results of the survey indicate that organisations are still at the discovery and use case definition stage in relation to AI. Automation It is surprising that greater use has not been made of the technology for automation purposes, given the continued inefficiencies created by manual processes and controls in finance functions. Interestingly, the survey shows a fairly significant budget increase is anticipated, albeit from a low base, for advanced AI (including GenAI) from one to 3.2 percent in the next two years. This suggests an openness to applying the technology as soon as use cases are identified and better understood. Not all AI solutions are expensive or require custom development. To get their organisations to accelerate the AI journey, CFOs can recommend adopting pre-built AI solutions that drive cost efficiency. Cybersecurity In their role as strategic business partners, CFOs must do more than just comprehend the organisation’s risk tolerance; they are also responsible for steering the budget towards areas that need more attention. Just 39 percent of the respondents in the EY Ireland survey say they have ramped up investment in security tools, compared with 60 percent in 2023. This may indicate a degree of complacency regarding cybersecurity, or it could be that investments have begun to plateau following significant increases in recent years. In a very welcome finding, 31 percent of the respondents say they instituted a cybersecurity task force compared with the eight percent in 2023. CFOs’ north star The relatively low priority given to technology-driven transformation and the low rate of AI adoption in finance functions is surprising given current talent shortages. Right now, cost control and efficiency remain the north star for finance leaders in Ireland. Derarca Denis is Assurance Partner and Sustainability Services Lead at EY Ireland 

Amid rising cyber threats, integrating cybersecurity into the due diligence process for business acquisitions is becoming increasingly important, writes Mark Butler With the recent rise in digital data breaches, cybersecurity’s critical role in due diligence engagements during business acquisitions cannot be underestimated. Embedding a cybersecurity-focused lens into the due diligence framework is an essential part of helping accountants and their clients tackle and manage potential vulnerabilities before investing proactively. This approach can strengthen defence against cyber threats, support informed, strategic decision-making and enhance a company’s resilience in the face of digital-age risks while ensuring full visibility of the purchaser’s potential exposure. The urgency of prioritising cybersecurity due diligence hinges on four key considerations: Assessing the business’s technological framework In today’s digital-driven business environment, a company’s technological infrastructure is integral to its operational success. Cybersecurity due diligence offers a deep dive into the resilience of the business’s networks, systems and software, revealing potential vulnerabilities. This critical assessment aids in understanding the implications and costs associated with securing or upgrading technological assets post-acquisition, facilitating strategic planning and integration efforts. Ensuring the security of sensitive information The acquisition process provides access to sensitive data, from client details and intellectual property to financial records and employee information. A focused cybersecurity due diligence process is crucial for evaluating how robust the target company’s data protection measures are. Early identification of security gaps enables the implementation of stringent safeguards, thus securing the integrity and confidentiality of vital data assets against potential breaches. Mitigating financial and legal exposures Cybersecurity breaches carry operational risks and significant financial and legal ramifications. A thorough cybersecurity due diligence process can uncover potential liabilities arising from data breaches, regulatory non-compliance and other legal challenges. Forearmed with this knowledge, acquirers can better negotiate the terms of the acquisition, allocate resources for addressing identified risks, and adjust the purchase price to reflect any investments needed to improve cybersecurity. Safeguarding business continuity and brand reputation Maintaining business continuity and reputation is paramount for a successful acquisition. Cyber incidents can severely disrupt business activities, erode customer trust and damage brands. By incorporating cybersecurity due diligence, potential threats can be identified and mitigated through comprehensive incident response planning. This proactive strategy ensures that appropriate measures are in place to minimise the impact of cyber threats on the company’s operational integrity and reputation. Prioritising cybersecurity within the due diligence framework is not merely a precautionary measure; it is a strategic business imperative that gives the purchaser adequate visibility of the acquired business. It can support a thorough assessment of technology-related risks, fortify the protection of sensitive data, mitigate potential financial and legal consequences, and protect the viability and reputation of the business. Finding expertise in cybersecurity can be difficult, however. I advise seeking out recognised specialists offering comprehensive assessments that adhere to international standards. This approach during the due diligence process can help accountants and their clients to understand and proactively address the cybersecurity challenges that come with business acquisitions, laying the groundwork for long-term success. Mark Butler is Managing Partner at HLB Ireland

Welcome to the latest edition of Technical Roundup. In developments since the last edition, IAASA has issued a revised version of ISA (Ireland) 505 – External Confirmations. The revised standard is effective for audits of financial statements for periods beginning on or after 15 December 2024 with early adoption permitted.  The Financial Reporting Council has welcomed the culmination of the first phase of the government’s review of non-financial reporting requirements for UK companies which aims to simplify the reporting framework as part of its Smarter Regulation agenda. Read more on these and other developments that may be of interest to members below. Financial Reporting The Financial Reporting Council has issued its final amendments to the FRS 102 and FRS 105 accounting standards, which will finalise the periodic review of the standards. The amendments (of which most come into effect from 1 January 2026) include changes to revenue recognition rules under FRS 102 and 105, and changes in the way some leases are measured & recognised under FRS 102. For more information please see our recent news item. The FRC has issued some guidance material relating to the amendments. They are also planning a webinar to discuss the amendments to the standards on 15 May. The International Accounting Standards Board’s (IASB) deadline for responding to their recent Exposure Draft  Financial Instruments with Characteristics of Equity Proposed amendments to IAS 32, IFRS 7 and IAS 1 has passed. The Financial Reporting Technical Committee of Chartered Accountants Ireland has issued its response to this consultation, which includes some recommendations to the IASB in finalising the project. The UK Endorsement Board has also published its response to the same consultation. The IASB has announced that it plans to issue its next IFRS standard, IFRS 18 Presentation and Disclosure in Financial Statements, on 9 April 2024. The IASB, in conjunction with the Education Committee and the Financial Reporting Standards Committee of the European Accounting Association (EAA) is holding an education workshop on 22 April to provide an overview of the standard. The IASB has published for public comment the Addendum to the Exposure Draft Third edition of the IFRS for SMEs Accounting Standard, which supplements the exposure draft published in September 2022. The deadline for responding to this consultation is 31 July 2024. The IFRS Interpretations Committee (IFRIC) has issued its Q1 2024 podcast. This considers some recent activity, including the treatment of climate related commitments under IAS 37 Provisions Contingent Liabilities and Contingent Assets. IFRIC has also released its March 2024 update. The IFRS Foundation has issued its March 2024 monthly news summary as well as its National Standard Setters Newsletter. The IASB has also issued a March 2024 update and podcast. EFRAG, the European Financial Reporting Advisory Group has extended the deadline for responding to its two surveys on the post-implementation review of IFRS 16. The deadline remains open until 22 April 2024. The UK Endorsement Board has announced some outreach activities to understand UK stakeholder views on IASB’s Exposure Draft Business Combinations – Disclosures, Goodwill and Impairment. The FRC has published its Plan and Budget for 2024-25, outlining its aims for a year of consolidation and prioritisation to support public interest outcomes and UK economic growth. The UK Government has announced its plans to legislate following its non-financial reporting review. The planned measures include a planned increase to the company size thresholds by approximately 50%, as well as other measures designed to streamline and improve reporting requirements. The FRC has welcomed the announcement. The IFRS National Standard Setters March 2024 Newsletter has been issued which features details on the upcoming 2024 World Standard Setters Conference in London and ISSB recent highlights. Auditing IAASA has issued a revised version of ISA (Ireland) 505 – External Confirmations. The main changes to the standard relate to: Clarification on what constitutes an electronic external confirmation. Prohibition on the use of negative external confirmations. Strengthened link with ISA (Ireland) 330 The Auditor’s Responses to Assessed Risks. Enhanced requirements concerning the investigation of exceptions. The revised standard is effective for audits of financial statements for periods beginning on or after 15 December 2024, with early adoption permitted. The revised ISA (Ireland) 505 is available here. Anti–money laundering and sanctions We have recently prepared an information booklet entitled The Economic Crime and Corporate Transparency Act 2023 – Changes in Companies House outlining the first set of changes introduced by Companies House on 4 March 2024. The Economic Crime and Corporate Transparency Act gives Companies House, along with the Registrar of Companies for Scotland and the Registrar of Companies for Northern Ireland, the power to play a more significant role in tackling economic crime and supporting economic growth. Over time, its measures will lead to improved transparency and more accurate and trusted information on its registers. The Dept. Of Justice has recently published Guidelines for Designated Persons supervised by its Anti-Money Laundering Compliance Unit (AMCLU). The purpose of the Guidelines is to assist those Designated Persons supervised by the AMLCU in understanding and meeting their Anti-Money Laundering and Countering the Financing of Terrorism obligations under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 as amended and related Statutory Instruments. Please click here for a press release with some further details. Insolvency The CCAB-I Insolvency Committee has recently published Technical Alert - Cross Border Insolvency and Brexit. This Technical Alert considers the impact of Brexit on both the recognition of Irish Insolvency proceedings in the UK and the recognition of UK Insolvency proceedings in Ireland. Sustainability The International Sustainability Standards Board (ISSB) has issued an update on the jurisdictional progress made in adopting the IFRS Sustainability Disclosure Standards. This includes details of the countries who are consulting on their adoption, as well as those who have completed their jurisdictional consultations. The ISSB has issued its March 2024 update and podcast. The FRC has announced the launch of its first market study to examine the UK market for sustainability assurance services. The study aims to ensure this rapidly growing market is functioning effectively and providing high quality assurance over companies' sustainability reporting. The GRI has published three new guidance documents to support global policymakers. These documents cover Double Materiality, Due Diligence and the CSRD. The Ministers for Finance and for Public Expenditure recently published the Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024. The Bill will provide for the establishment of the two funds in its title. One is the Future Ireland Fund which is for the purpose of supporting State future expenditure pressures including ageing, climate, digitalisation and other fiscal and economic challenges in a consistent and sustainable manner from 2041 onwards. The other is the Infrastructure, Climate and Nature Fund which is for the purpose of supporting State expenditure, in 2026 or any year after that to assist with climate change objectives and nature, water quality and biodiversity issues. The Fund will provide for resources for spending in a future downturn to support expenditure through the economic and fiscal cycle and to support designated environmental projects. Please click here for a press release on the Future Ireland Fund and Infrastructure, Climate and Nature Fund Bill 2024 which provides further information. Other news The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published its third consultation package under the Markets in Crypto-Assets Regulation (MiCA). As part of the Financial Reporting Council (FRC)’s review of the UK Stewardship Code 2020, a series of roundtable discussions are being held on the efficacy of the 2020 Code in order to receive feedback on areas for potential improvement and the extent to which the Code continues to meet its stated purpose.  These discussions will run from 26 March to 7 May. The FRC and the Australian Securities and Investment Commission (ASIC) have announced a Memorandum of Understanding on Reciprocal Arrangements (MOURA) making it easier for auditors to work between both countries. The UK’s Financial Intelligence Unit has issued the 25th edition of its SARs in Action magazine which focusses on the Illegal Wildlife Trade. Powering Prosperity – Ireland’s Offshore Wind Industrial Strategy, is the first strategy of its kind for Ireland which aims to build a successful and impactful offshore wind energy industry.  It was developed as part of close ongoing collaboration between the Department of Enterprise, Trade and Employment and other government departments and agencies within the Offshore Wind Delivery Taskforce (OWDT). Proposed new company law provisions The Department of Enterprise, Trade and Employment published the General Scheme of Companies (Corporate Governance, Enforcement and Regulatory Provisions) Bill 2024 on 15 March 2024. The General Scheme proposes wide ranging changes to the Companies Act 2014. Changes which may be of interest to readers include a change to loss of audit exemption, receiverships, SCARP and winding up, three new grounds for involuntary strike off, changes for Corporate Enforcement Authority and provisions relating to IAASA. You can click here to read an Institute news item giving more detail about the proposed changes. Corporate Enforcement Authority Readers can also find more detailed information on changes that the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Bill 2024 proposes for the Corporate Enforcement Authority (CEA) in the CEA’s recently published  information note and press statement. 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.    

Following constructive engagement with Government departments, the Institute has secured a change which should make the process of hiring non-EEA accountants by way of a Critical Skills Employment Permit (CSEP) less burdensome. In recent months, member firms have reported to us a significant increase in the need to apply for bridging CSEP visas for their workers while their residency status is being processed.  New rules announced this week should substantially reduce this requirement. CSEP’s are valid for a period of two years, after which employees holding this permit can typically go on to apply for continued residence in Ireland under what is known as a Stamp 4. Since November 2023, in order to secure a Stamp 4, the holder of a CSEP was required to complete a minimum of 21-months' work following the issuance of a Stamp 1 (a permission to work visa). Delays in issuing a Stamp 1 meant that member firms have had to apply for bridging CSEPs because the 2-year CSEP would expire before accountants could meet the 21-month work requirement. Amplifying our members concerns, we called for a reinstatement of the previous system whereby a Stamp 4 could be secured 21 months from the commencement of employment in the State - rather than from the commencement of a Stamp 1. Following a sustained period of engagement with department officials, this suggestion was formally adopted by the Department of Justice with immediate effect – details of the changes can be found here. Chartered accountants are currently listed on the Government’s Critical Skills Occupations List – meaning that due to capacity shortages in the industry, suitable candidates from non-EEA jurisdictions are eligible to apply for a Critical Skills Employment Permit (CSEP) to come and work in the profession here. The Department of Enterprise, Trade and Employment and the Department of Justice have jurisdiction over the issuance of CSEP’s and Stamp 4 residence permits. Further information on CSEPs can be found here on gov.ie. The previous changes announced by the Department of Enterprise, Trade and Employment (DETE) on November 15 2023 can be found here. Should you have an issue which you would like to bring to the attention of the public policy team, please reach out via our email publicpolicy@charteredaccountants.ie

The CCAB-I Insolvency Committee has recently published Technical Alert - Cross Border Insolvency and Brexit. This Technical Alert considers the impact of Brexit on both the recognition of Irish Insolvency proceedings in the UK and the recognition of UK Insolvency proceedings in Ireland.

Julia Rowan answers your management, leadership and team development questions Q. I manage a team of four people in a large organisation. Up until recently, we all got on and worked well together. However, the mood has changed. The work is getting done, and everyone is polite, but I am being shut out. I think this is in response to company-wide changes during which we lost a popular team member. I had no control over this. A. One of the key things leaders do is act as a buffer between the hard shell of the organisation – with its policies, structures and procedures – and the social and emotional needs of individuals. It is a tough gig.  Right now, it sounds like your team is angry with the organisation. Sadly, they are not going to tackle the CEO, so you are getting the flack. When change is perceived negatively, there is a lot of blame. Leaders often get sucked into explaining, defending and rationalising – which only makes things worse. In reality, people are frightened and worried. They are wondering, ‘Can I cope with the changes?’, ‘Will I be next?’ They are placing blame at your feet to hold those fears at bay. While you may be unable to control the changes your company decides to make, you can help your team to navigate them.  Allow people to air their fears – and listen without judgement. Underneath it all, your team does not blame you. They understand that changes need to be made to keep organisations competitive. When you listen, people will start talking about what is important to them, and this is where you can have a connected conversation. I suggest you raise this issue at a team meeting. Say that you have noticed a change in the team mood and feel it would be useful to discuss this in one-to-ones or at the next team meeting.  If people bring up the issues, connect with them where they are. Prepare to listen and absorb. You might have to listen to a rant – at the end of a rant, there is often an apology and an acceptance of the need to move on.  When the time is right, agreeing on how to move forward may be useful. Have some ‘connecting’ questions ready, for example: What is important for you/the team? What could I/we have done differently? What do you want from me/from each other at this time? What can I help you with?  How do we support each other? How do we want to move forward? Finally, it may be important to look at how your team member left. Did you and the team get a chance to mark that properly? If not, the team may like to fix that. Julia Rowan is Principal Consultant with Performance Matters Ltd, a leadership and team development consultancy. To send a question to Julia, email julia@performancematters.ie