Welcome to the latest edition of Technical Roundup. In developments since the last edition, Accountancy Europe has published its 2024 Annual Report which highlights its key achievements, impacts and insights during the year. The International Sustainability Standards Board (ISSB) has released its March 2025 podcast hosted by ISSB Chair Emmanuel Faber and Vice-Chair Sue Lloyd discussing the latest developments around the ISSB. Read more on these and other developments that may be of interest to members below. Financial Reporting The SORP making body responsible for developing the Charity SORP has launched its public consultation on the next update to the Charity SORP. The update included in the Exposure Draft released includes proposed changes to reflect the amendments made in 2024 to FRS 102 as part of the periodic review of that standard. The consultation period will run until 20 June 2025. Carmichael, a specialist training and support body for nonprofits in Ireland, is hosting a webinar on 15 April to discuss the proposed updates to the SORP, including the implications it may have for charities. The International Accounting Standards Board (IASB) has released its March 2025 update and podcast. The IFRS Foundation has released a recording of its recent event “Disclosures about transition plans”. The IFRS Foundation has published its annual report and audited financial statements for 2024. This highlights some of the achievements made by the organisation in 2024. The IFRS Foundation has released a podcast and webcast to help users understand the changes set out in the third edition of the IFRS for SMEs Accounting Standard. It has also released the March 2025 IFRS for SMEs Accounting Standard Update. The Financial Reporting Council (FRC) has issued minor amendments to the FRS 102 and FRS 105 standards. These amendments reflect the recent increase to the UK company size thresholds, which are referred to in both standards. For more information on this please see our recent news item. The European Financial Reporting Advisory Group (EFRAG) has released its February 2025 update and podcast. EFRAG is inviting preparers, users, auditors, regulators and other stakeholders to participate in their upcoming roundtable on 25 April entitled “Practical Considerations of Connecting Financial and Sustainability Reporting”. Accountancy Europe has published its 2024 Annual Report which highlights its key achievements, impacts and insights during the year. The UK Endorsement Board (UKEB) has published its 2025/28 Regulatory Strategy and Feedback Statement. UKEB has published its final comment letter in relation to the IASB Exposure Draft Proposed Amendments to the IFRS Foundation Due Process Handbook. Auditing The Financial Reporting Council (FRC) has published an updated letter regarding its approach to capital restructuring at UK audit firms. Originally issued in September 2024, it provides further clarity on the FRC's position on this area. UKFIU material on anti-money laundering, EU Sanctions Helpdesk The UK FIU has published its 2024 Annual Report. The report covers key statistics around Suspicious Activity Reports (SARs) in the Financial Year 2023 to 2024 and includes £240.1million being denied to suspected criminals because of Defence Against Money Laundering (DAML) requests. Click here to read the Report. As part of sector specific SAR Best Practice Workshops, the UKFIU Engagement Team’s April 2025 workshop webinar will be for the Accountancy sector and is scheduled for 29 April 2025 Register here. It is aimed at Money Laundering Reporting Officers (MLROs), Nominated Officers (NOs) or colleagues who write SAR submissions within organisations with AML compliance teams of 5 or less. Finally in UK FIU news, please click to hear a UKFIU podcast with the issue of professional enablers discussed by panellists. A new service, the EU Sanctions Helpdesk has been set up to support European SMEs in complying with sanctions. The service is funded by the European Union. The Helpdesk offers resources and personalised assistance free of charge to companies performing sanctions due diligence checks. It also manages a dedicated website featuring sanctions-related information, events, tips, lessons learned, and more.  Readers can click to read more about the EU Sanctions Helpdesk, Visit the EU Sanctions Helpdesk website, Submit a request to the EU Sanctions Compliance Support Service & read Frequently asked questions and access the Audiovisual Service. Sustainability European Commission Omnibus proposal: The Minister for Enterprise, Tourism and Employment, Peter Burke, has issued a statement in which he welcomed proposals by the European Commission to introduce significant changes to the requirements for companies to report on corporate sustainability matters. The Institute previously issued a news item outlining the main changes proposed to the regulations. The European Commission and the European Parliament has recently approved the ‘stop the clock’ proposal which postpones the application of all reporting requirements in the CSRD for companies that are due to report in 2026 and 2027 (so-called wave 2 and 3 companies) and which postpones the transposition deadline and the first wave of application of the CSDDD by one year to 2028. This will now be sent for approval by the European Council. In other news on the Omnibus, Maria Luís Albuquerque, the EU Commissioner for Financial Services and Investments, sent a letter to EFRAG asking for updated recommendations to comply with the current proposal. The letter asks EFRAG to initiate the process to develop technical advice for the modification of the ESRS, including substantially reducing the number of mandatory ESRS datapoints.  EFRAG has until April 15th to draft a workplan with a target completion deadline of October 31st 2025. The International Sustainability Standards Board (ISSB) has published the recording of its eighth 'Perspectives on sustainability disclosure' webinar. The webinar is titled 'The future of integrated reporting and integrated thinking'. The International Sustainability Standards Board (ISSB) has released its March 2025 podcast hosted by ISSB Chair Emmanuel Faber and ISSB Vice-Chair Sue Lloyd discussing the latest developments around the ISSB. The IFRS Foundation has published a ‘Roadmap Development Tool’, which is intended to support jurisdictions in the planning and the design of their adoption roadmaps for ISSB standards. The IFRS Foundation has released a series of webcasts to support companies in identifying and disclosing material information about sustainability-related risks and opportunities. Central Bank of Ireland In March 2025 the Central Bank of Ireland (CBI) published its revised Consumer Protection Code. Please click to access the Central Bank’s page on the Consumer Protection Code 2025. The existing Consumer Protection Code of 2012 continues to apply to regulated firms, and the protections that are currently in place remain effective until the revised Code takes effect on 24 March 2026. Please also click to access the Central Bank's Consumer Code feedback document giving its reasons for its approach to the update Code and click here to read the Central Bank Governor’s opening remarks at the new Code’s launch. In other Central Bank news click to read the Central Bank’s Deputy Governor address to the Institute of Bankers in April 2025 entitled “Shocks and shifts – Regulation and Supervision in a changing world“.Topics she spoke about included the Central Bank’s more integrated approach to supervision and the  regulatory simplification agenda. Finally in CBI news, readers interested in the area of cryptoassets will be interested to read the Central Bank’s Director of Capital Markets & Funds remarks at a Markets in Cryptoassets Regulation (MiCAR) Industry Briefing in March 2025. He considers how CBI thinks about MiCAR and cryptoassets and what it is focusing on in implementing MiCAR: governance and culture, consumer interests and crime and fraud. Other news In the height of AGM season 2025 readers may find useful A&L Goodbody LLP solicitors guide to some of the key themes and issues which may be on the agenda for Irish listed companies this year. Click to read the guide “What’s on the agenda? AGM Season 2025”. Readers may be interested in the recent publication by the  Dept. of Enterprise Trade and Employment (DETE) of the Employment (Contractual Retirement Ages) Bill 2025. When enacted it will deliver a new employment right allowing but in no way compelling an employee to stay in employment until the State Pension Age (66). It will allow workers whose contract has a retirement age of 65 or under to work to State Pension Age of 66, if they so wish. Click here for a DETE press release on the draft legislation. The text has been published of the speech the Pensions Regulator gave to the Irish Association of Pension Funds’ Spring Conference in March 2025. Topics he spoke on include the Pensions Authority’ recent supervisory review activities, it’s plans for the rest of 2025 and its longer-term priorities. 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.    

If you are finishing your training contract in the months ahead and starting to consider your career path and what direction you want to take your professional qualification there are a number of actions you will need to take. Below is a list you can tick off as complete over the weeks ahead : Action list and Key considerations as a newly qualified ACA Build a top class CV   Start a Career Plan file Watch some career webinars Start market mapping and select my top ten preferred employers – If you need advice on MM contact your Careers Team in the Institute. Get my LinkedIn profile up to speed – Document guide available from dave.riordan@charteredaccountants.ie Treat this as the appendix to your CV – Professional Photo and good bulleted detail. Set up my alerts on jobs boards for a variety of different roles and titles and filter into a folder for review Connect with a few recruiters I trust to understand the career curve of an ACA – Career Pathway Hub here Explore the full spectrum of career paths that I can take post qualification Consider whether a contract might be a good option at this particular crossroads Connect with a few mentors and get their advice formally consider a stint abroad to add real-world experience to my CV Initiate a networking mentality and start speaking to my peer group about what they are doing with their careers in the years ahead examine the LinkedIn profiles of peers several years ahead of me what paths they have taken as they moved out of their training contract. Establish my elevator pitch about where I want my career to go Based on my recent annual reviews in work write an honest SWOT analysis of my personal brand and current profile. Follow companies on LinkedIn that I am very interested Connect with CFO's and divisional heads on linkedIn in organizations that appealed to me using a polite connection message. Start building my Interview narrative – What are my key selling points / key stories and value-add examples? Have I asked the Institute Careers Team or a recruiter for a prep session? Ask for the "Interview Do’s and Don’ts document".  Do some work for Charity. Who are my referees going to be and will they sing my praises. Give them advance notice. If  April 2025 is when you will be leaving your training contract then start the key actions now per the above list and don’t put off contacting your Careers Team until too late.  Get ahead of the curve. The market is very good at the moment but change is the only real constant in the world of business today so take advantage and initiative while you can. Dave Riordan (FCA) Recruitment Specialist & Career Coach | Careers Team Chartered Accountants Ireland. Dave.riordan@charteredaccountants.ie

The Institute of Chartered Accountants Ireland operates a Recruitment Service for clients and members providing specialist and expert advice at all stages of the recruitment process.  CLIENTS - We provide a full-service end to end recruitment partnership to our clients. We manage the entire process from advertising, screening candidates and interview scheduling all the way through to offer management and reference checking. We take the time to understand your specific needs whether you are the client or the candidate. Our aim is to enable and support positive recruitment decisions. CANDIDATES - Similarly on the candidate journey we represent our ACA and FCA members (exclusively) and provide personalised support throughout the interview journey, including the provision of interview preparation sessions and offer negotiation advice. The members of the Careers Team have combined experience in recruitment of over 40 years for you to leverage. CAREER ADVISORY – The Careers Team is essentially your career partner at every stage of your career from qualification to retirement. We are here to provide guidance, support and advice and to act as your independent and confidential sounding board. Our team of experts can help you to successfully navigate your career enabling you to reach your full potential. For more information about the Recruitment and Careers Service in Chartered Accountants Ireland contact Careers@Charteredaccountants.ie    

Commenting on the US administration’s new tariffs, Cróna Clohisey, Director of Members and Advocacy, Chartered Accountants Ireland said: “The announcement of 20% tariffs on imports from the EU by US President Donald Trump last night is a regressive step in transatlantic trade relations and upends the principle of open and fair trade. We urge the Irish government to work with the EU Commission to find a way to engage the US in constructive dialogue which prioritises solutions over a cycle of retaliatory measures. A further escalation in trade tensions will risk jobs, businesses and economies not just on the island of Ireland, but across the world. Without a doubt, these tariffs will cast a shadow of uncertainty over the stability of Ireland’s future corporation tax receipts with the stated aim of the tariff war being to ‘onshore’ many of the US multinationals operating overseas. As an all-island body, it is equally regrettable to see a 10% tariff announced on imports to the US from Northern Ireland, adding an additional pressure to businesses who are still navigating the complex trading landscape post Brexit. For now, we need to focus on what we can control. Prioritising Ireland’s competitiveness on the global stage will require urgently addressing our persistent infrastructural deficits. Our infrastructure is 25% less developed, on average, than other high-income European countries. This is not sustainable, particularly in the face of such protectionist measures. Now is the time to utilise the resources already at our disposal to accelerate investment in housing, water, energy and transport to best position the economy for growth - not only in terms of continued inward investment but also supporting domestic enterprises that comprise 99.8% of businesses in Ireland.”

    In this week’s Sustainability/ESG Bulletin read about Ireland’s green skills shortage, the global and Irish weather reports, and the costs, opportunities, and role of tax in the sustainability transition. Also covered is an increase in EVs in Ireland, lessons on sustainability from Nordic companies, a new framework to implement the Dasgupta Review recommendations, sustainability as a priority for MEPs, EU omnibus developments, and news from the US SEC as it votes to stop defending climate disclosures, as well as the usual articles, resources and upcoming events.   IRELAND Small Scale Renewable Electricity Support Scheme (SRESS) The Department of the Environment, Climate and Communications has recently launched a scheme that aims to support SMEs to establish their own export renewable electricity projects. Support is provided in the form of a guaranteed tariff for their electricity produced and is provided for 15 years. More information on the scheme can be found here.   Clear skills shortage challenges move to sustainable model for Irish business Research recently published by Skillnet Ireland has shown that a shortage of skilled workers is a challenge for business, particularly for SMEs, in moving to a more sustainable model. The research report, Ireland’s Talent Landscape 2025: Future Skills Challenges of Irish Business, identified the skills challenges facing businesses in adapting to the changing nature of work in the face of the digital, artificial intelligence (AI) and green transitions. It identified a growing recognition among businesses of the importance of climate action and sustainability expertise, alongside a clear skills shortage of green talent. At least two-thirds (66 percent) of businesses said they will need climate action and sustainability related upskilling.   SEAI report highlights costs and opportunities of energy transition   Achieving Ireland’s energy transition could result in up to €19 billion of capital expenditure per year by 2030 according to a new report by the Sustainable Energy Authority of Ireland (SEAI). The report, Ireland’s Sustainable Energy Supply Chain Opportunities, highlights the importance of collaboration between the public and private sectors to fulfil our energy transition goals. It outlines six recommendations, including developing skills and certifications, leveraging R&D capabilities, promoting sustainable practices, focusing on high-value markets, capturing the preliminary phase of the supply chain for key technologies and the installation and commissioning markets of technologies.   The role of tax in the green transition The Department of Finance has published an update to the methodology for Green Budgeting in Ireland from a Tax Perspective. It describes green budgeting as a “process which seeks to consider the impacts of the budgetary process and wider fiscal policy on the transition to a more sustainable, environmental and climate friendly economy … an explicit recognition that the budgetary process is not neutral, but reflects long standing societal choices about how resources are deployed.” The report finds that, overall, the tax system in Ireland as a whole can be considered climate positive in monetary terms, and that recent budgetary changes have improved the climate positive contribution of the tax system. It further recommends that policy and policymakers will need to be cognisant of, and integrate, environmental costs and benefits into medium- and longer-term fiscal planning. This paper also complements the efforts of the EU and the OECD to advance green budgeting practices at a national level. On Thursday 24 April the European Parliament’s Subcommittee on Tax Matters (FISC) will host a public hearing on the role of tax in aligning the green transition and competitiveness.   Potentially challenging outlook for Ireland’s electricity grid Eirgrid, which is responsible for managing, planning and operating Ireland’s high voltage electricity grid and market, has released its All-Island Resource Adequacy Assessment 2025-2034. The assessment looks at the balance between electricity demand and supply on the island of Ireland for the next 10 years. It shows “a potentially challenging outlook” in Ireland over the next few years, and that further new electricity generation will be required to secure the transition to high levels of renewable electricity over the coming decades.   Ireland and global climate 2024 show that robust adaptation is needed Met Éireann’s recently published ‘Ireland’s Climate 2024 Provisional Summary Report’ confirms that 2024 was the fourth warmest year on record for Ireland. The release coincides with that of the World Meteorological Organisation (WMO)’s State of the Global Climate 2024, which documents 2024 as the warmest year in global records, with key climate change indicators again reaching record levels. Commenting, Met Éireann Senior Climatologist Dr Pádraig Flattery warned that rising temperatures increase the chance of severe weather events and emphasise the need for climate action to reduce greenhouse gas emissions, as well as robust adaptation to deal with the consequences of climate change.   Public consultation on first National Public Procurement Strategy The Department of Public Expenditure NDP Delivery and Reform has launched a public consultation on the first National Public Procurement Strategy . The consultation will run for eight weeks and is open to all those with an interest in the future direction of public procurement in Ireland, including public bodies, NGOs, community groups, political representatives, academics and members of the public. Commenting on the launch, Minister for Public Expenditure, NDP Delivery and Reform, Jack Chambers, explained that “[t]he focus of the strategy will be on increasing SME participation in public contracts and leveraging public procurement to support sustainability and innovation concerns, it will also support increasing openness and transparency in public procurement processes.” Government is particularly keen to have inputs from members of the business community including social enterprises and SMEs.   Increase in Ireland’s climate finance spending Ireland’s recently published Climate and Environmental Finance Report 2023 shows an increase of 32 percent in Ireland’s climate finance spending between 2022 and 2023. The report, which is produced annually by the Department of Foreign Affairs and Trade, describes the levels, channels and focus of funding provided by the Irish Government to support climate action and environmental protection in developing countries. In July 2022 the Irish Government published Ireland’s International Climate Finance Roadmap, an all-of-government plan setting out the pathway for realising the target announced by the Taoiseach at COP26 to provide at least €225 million in climate finance per year by 2025.   High response to EV Grant Scheme for taxis, hackneys and limousines A statement published by ZEVI, the Department of Transport office to support  the switch to zero emission vehicles, has reported unprecedented interest from taxi, hackney and limousine operators in Ireland in the  2025 eSPSV Grant Scheme (eSPSV25), which is now fully subscribed. The Scheme helps accelerate the transition to EVs in the small public sector vehicle industry and supports those who are scrapping older, more polluting, or high mileage vehicles to go electric. The National Transport Authority (NTA) will temporarily pause the scheme to review and process the eligible applications received. Following assessment of the initial applications, the scheme may reopen later in the year. Separately, figures released by the Central Statistics Office (CSO) show that the number of new electric vehicles (EVs) licensed in February rose by 38 percent when compared with February 2024, meaning that the share of EVs among new private cars increased to 20 percent in February compared with 15 percent in the same month in 2024. The number of new plug-in hybrid electric vehicles (PHEV) licensed in February grew by 65 percent when compared with February 2024, increasing the share of PHEVs among new private cars to 15 percent in February from 9 percent in February 2024. The combined share of petrol and diesel cars among new private cars licensed year to date has fallen in comparison with 2024 from 51 percent to 42 percent.   Navigating the Nordic Sustainability Landscape: Key Insights for Irish Companies Enterprise Ireland have published a short guide for Irish businesses looking to align with the sustainability expectations of Nordic companies. The guide identifies several strategies that can be adopted, including embedding sustainability into the core business models, addressing the full ESG spectrum (conducting a Double Materiality Assessment), staying updated, communicating transparently, and pursuing certifications and eco-labels such as B-Corp, ISO14001 and ISO26000 and Nordic Swan Ecolabel.   BioPharmaChem industry carbon emissions associated with energy consumption drops, report finds A new report by BioPharmaChem Ireland (BPCI) finds that the biopharmaceutical and chemical sectors have made significant progress toward sectoral sustainability goals over the past three years despite a 5.8 percent increase in production and strong employment growth. The Sustainability Strategy and Responsible Care Report 2025, which tracks industry progress in energy, emissions, data, and culture, has found that between 2022 and 2024 carbon emissions fell by 26 percent, water use decreased by 2.9 percent, and energy consumption declined by 4.5 percent. Renewable sources now supply over two-thirds of the industry's electricity, including on-site generation. While efforts to reduce Scope 3 emissions are ongoing, the report highlights that 53 percent of sites face challenges in gathering the necessary data, and calls on the Government to further improve competitiveness in Ireland by improving the capacity and reliability of the electricity grid, supporting greater availability of grid storage solutions, improved smart grid systems for better energy management, and streamlined regulatory and planning approval processes for renewable energy projects.   NORTHERN IRELAND/UK Northern Ireland’s Energy Strategy Action Plan publishes Northern Ireland’s  Energy Strategy Action Plan 2025 - March 2025 has published, setting out a roadmap for 2025 to advance the transition towards secure, affordable and clean energy for the region. This is the fourth annual action plan to be published following the launch of the Executive’s Northern Ireland Energy Strategy ‘Path to Net Zero’ in 2021, which sets out a pathway for energy to 2030. The Energy Strategy Action Plan 2025 is a key step to achieving the Strategy’s commitment to self-sufficiency in affordable renewable energy. It was published alongside an Energy Strategy Action Plan Report 2024, detailing progress on a range of actions carried out by the Department and Government partners in 2024.    Implementing the Dasgupta Review The UK independent think tank Green Alliance has published proposals to create a framework to factor nature properly into economic decision making. The report, The nature of our economy: implementing the Dasgupta Review, follows the Dasgupta Review, commissioned by the UK Treasury and published in 2021, which exposed the failure in mainstream economics to account for the true value of nature, a failure the report says ultimately will erode GDP and lead to long-term economic instability.     Transparency in supply chains: a practical guide (accessible) The UK Home Office has published statutory guidance aimed at increasing transparency in supply chains, and urges businesses to be vigilant to ensure they are not knowingly or unwittingly complicit in this abuse taking place in their operations and global supply chains. The guidance ‘Transparency In Supply Chains (TISC)’ states that "No part of the world is free from modern slavery and no industries are immune to the risk of modern slavery”. According to the most recent Global Estimates of Modern Slavery, there were an estimated 27.6 million people living in forced labour in 2021 (of which 3.3 million were children), estimated to generate £185 billion in illegal profits every year.   EUROPE Omnibus update MEPs have voted to approve the proposed “stop-the-clock” procedure recommended under the EU omnibus which proposed simplifications to sustainability regulations, including the Corporate Sustainability Reporting Directive (CSRD) and to delay the next wave of companies coming into scope by two years, and to delay the transposition of the  Corporate Sustainability Due Diligence Directive (CSDDD). On Thursday 3 April, the European Parliament voted to postpone the application dates for new EU laws on due diligence and sustainability reporting requirements. Member states will have an extra year – until 26 July 2027 – to transpose the due diligence rules into national legislation.  Application of the sustainability reporting directive will also be delayed by two years for the second and third waves of companies covered by the legislation. Large companies with more than 250 employees will be required to report on their social and environmental measures for the first time in 2028 for the previous financial year, while listed small and medium-sized enterprises will have to provide this information one year later. Sustainability a priority for MEPs for 2026 EU Budget MEPs have adopted their priorities for the 2026 EU budget on Wednesday, emphasising defence, prosperity and sustainability. Next year’s budget should focus on strategic preparedness and security, economic competitiveness and resilience, sustainability, climate, and the single market, as MEPs call for additional investment in research, innovation, enterprises, health, energy, migration, border protection, digital and green transitions, job creation and opportunities for young people. The Commission is expected to present its proposal for next year’s budget in June 2025. The budget needs to be agreed between the Council and the Parliament by the end of this year.   WORLD Corporate income tax and the Net-Zero Transition (From our colleagues in Tax) The OECD has published a working paper on the impact corporate income tax (CIT) design can have on investment by the private sector in clean technologies to help achieve net-zero climate goals. Setting out a conceptual framework of the key channels through which CIT can influence investment in clean technologies, it also identifies policy implications and potential policy options to enhance the alignment of CIT with climate policy objectives.   US SEC votes to stop defending climate disclosure rules The US Securities and Exchange Commission (SEC) has voted to end its legal defence of its climate disclosure rules which required large corporations to disclose the impacts of climate change on their businesses. In 2024 the Securities and Exchange Commission (SEC) had adopted rules to enhance and standardise climate-related disclosures by public companies and in public offerings. The vote reportedly allows the SEC to “effectively walk[] away from its regulation requiring companies to report on climate risks and greenhouse gas emissions, without actually having to rescind the rules”. Technical Roundup (From our colleagues in Professional Accounting) Following Omnibus proposals, the Chair of the Global Sustainability Standards Board has highlighted short-term pressures that exist to weaken regulations and why now is the time for the EU to show global leadership.   7 April: European Financial Reporting Advisory Group (EFRAG) is holding “VSME in Action: Empowering SMEs for a Sustainable Future” looking at how the standard can be implemented.   EFRAG and the CDP have published correspondence mapping between the CDP question bank and ESRS E1. The International Sustainability Standards Board (ISSB) has published the recording of 'The future of integrated reporting and integrated thinking', its eighth 'Perspectives on sustainability disclosure' webinar and its March 2025 podcast discussing the latest developments around the ISSB. The IFRS Foundation has published a ‘Roadmap Development Tool’ to support jurisdictions in the planning and design of their adoption roadmaps for ISSB standards. It has also released series of webcasts to support companies in identifying and disclosing material information about sustainability-related risks and opportunities.   Articles How suppliers should be supporting their customers’ carbon accounting (Accountancy Age)   Climate Mitigation vs Climate Adaptation: What's the Difference? (Climate Action for Associations)   Big businesses can’t afford to overlook SMEs in their supply chain (Edie)   Catastrophe Experts Tap AI to Tackle Soaring Insured Losses (Bloomberg)   The broken rung in the career ladder - why women continue to earn less (The Irish Times)   EU pushes for citizens to prepare three-day survival kits (RTÉ)   Can Ireland bridge the gap to net zero? (Accountancy Ireland - Briefly)   Proposed public sector accounting standards ‘could encourage greenwashing’ (ICAEW Insights)   Resources Enterprise Ireland are running Sustainability Kickstarter workshops for SMEs. Workshops will be held on the 10th April, 2nd May, 16th May and the 6th June.   Accounting for Sustainability (A4S) has published a 4th edition of its Navigating the Reporting Landscape guide. New content includes an update on regional developments, such as California’s Climate Disclosure Rules and the new proposals in the EU Omnibus, as well as changes to international standards, such as those on sustainability assurance.    Events Chartered Accountants Ireland ESG Masterclass: Take your sustainability knowledge to the next level (ROI/NI) Masterclass designed for all professional accountants working in business or practice, wishing to consolidate their knowledge and understanding of the sustainability regulatory, reporting and assurance landscape. 9 April, 08:30 – 14.00, Virtual Cork District Society Chartered Accountants Ireland, Navigating Tomorrow: Finance, Sustainability & Strategy for Irish SMEs Paul O'Donovan and Associates, in collaboration with VBC, invite you to their April conference; "Navigating Tomorrow: Finance, Sustainability & Strategy for Irish SMEs". Tickets are free but registration is required. In person, Clayton Hotel, Cork city, Tuesday 15 April 2025,8.15am - 1.00pm Chartered Accountants Ireland, The SME and SMP Sustainability Workshop A workshop for SMEs and small/medium accounting practices (SMPs) on how to get ahead of the sustainability curve. This interactive half-day session will focus on positive actions you can take to understand the ‘trickle-down’ effect of the Corporate Sustainability Reporting Directive ('CSRD’), green public procurement, access to sustainable finance, and how to make your practice more sustainable to save costs and respond to staff and client demands. Virtual, 23 May, 9.30- 12.30; €60 members; €75 non-members; 3 hours CPD points. EPA, EPA Annual Climate Change Conference 2025 The EPA Annual Climate Change Conference will be held on Wednesday 28 May 2025 in Dublin Castle. Please save the date for this event. In person, May 28, 2025 Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.  

On1 April the Ulster Society hosted legal webinar with A&L Goodbody's Stephen Geoghan focusing on The Procurement Act 2023. Now that the biggest shakeup in the UK public sector procurement in decades is live, this webinar is an opportunity to familiarise yourself with the new regulations and prepare to leverage new opportunities. Join Stephen as he presents a detailed analysis on the new regulations covering:  • The procurement process: How to engage early and protect your business • Post contract award: Is your contract at risk of termination? • Key takeaways  A recording of this webinar is available to view, for free and on demand HERE A pdf copy of Stephen's slides are available to view HERE  

In UK news, HMRC has launched its new email enquiry service for agents, and we look at the key tax announcements from last week’s Spring Statement, including the news that Making Tax Digital will be extended to even smaller businesses from April 2028. In Irish news, Revenue has issued new guidance on submitting RZLT returns and a delegation from the Institute, under the auspices of the CCAB-I, attended the recent meeting of the Business Tax Stakeholder Forum. In International news, the European Commission has welcomed the Court of Auditors’ special report on VAT fraud. UK 1. Read our overview and coverage of last week’s Spring Statement which included the announcement of ‘closing the tax gap’ and other miscellaneous measures and the extension of MTD. 2. HMRC launched its new email enquiry service for agents this week. Ireland 3. Read an update from the recent Business Tax Stakeholder Forum meeting. 4. Revenue has issued a new Tax and Duty Manual which provides information on submitting RZLT returns. International 5. The European Court of Auditors has published a special report on VAT fraud. Keep up to date with all the latest Irish, UK, and international tax developments through Chartered Accountants Ireland’s Tax Newsletter. Subscribe to the Tax News by updating your preferences in MyAccount.  

Revenue will be hosting information sessions in March and April for individuals over the age of 65. The sessions will be held in Dublin, Waterford and Mayo and advance registration is required. The sessions will run from 31 March 2025 to 9 April 2025 and will cover a range of topics including: Capital Acquisitions Tax Pay As You Earn Income Tax Local Property Tax Capital Gains Tax Law Society and Citizens Information Details on registration and the topics to be covered on the various dates are available on Revenue’s news webpage.

Last week, the Economic and Social Research Institute (ESRI) published its Quarterly Economic Commentary. In the press release which accompanied the publication, the ESRI noted that the Irish economy is in a strong position. Unemployment is currently 3.9 percent while income growth is expected to exceed 3.5 percent this year. The international climate is creating uncertainty however, and the impact of the any ensuing trade wars will have adverse implications for the domestic economy. The overall impact will be compounded if the US specifically targets pharmaceutical products

The new agent e-linking application went live last week, providing an online approval system for linking agents and customers. A summary of the new process and the steps involved in accepting an agent link request through myAccount and ROS are outlined in a dedicated Revenue webpage. Our news item from 3 March 2025 includes further information on the new process.  

Last Friday, the Department of Finance hosted the most recent meeting of the Business Tax Stakeholder Forum. The Institute attended the meeting under the auspices of the CCAB-I. The forum is an opportunity for key business tax stakeholders to engage with department officials of business tax matters. Among the items discussed were tax simplification, both domestic and EU, an update on the Funds Sector 2030 project, and EU and international tax developments. In recent times, the forum has provided a key opportunity for the Institute to engage with the Department of Finance and share our views on tax policy. Before Christmas, we provided feedback on areas of focus for tax simplification. You can read that submission here.

The Chancellor of the Exchequer Rachel Reeves delivered the Spring Statement last week on Wednesday 26 March. As expected, this was mainly an economic update coupled with further spending and welfare cuts. No tax rises were announced this time around with many commentators saying the Chancellor has ‘kicked the proverbial can down the road’ and that this will not be the case in the Autumn Budget later this year. The measures were focused on driving economic growth, building an NHS fit for the future, and keeping the country safe. However, what is clear is that UK businesses are entering a time of economic slowdown with tax increases looming next month (the key tax changes taking effect from April 2025 will feature in next week’s update). The Chancellor also claimed in her speech that households in the UK will be “over £500 a year better off” even after inflation. For millions still feeling the pinch, it was a surreal moment as fiscal drag is expected to create over 1 million more higher rate taxpayers in 2025/26 due to frozen personal tax thresholds. HMRC has sent several emails summarising the key announcements which you can read here and here, and the Institute for Fiscal Studies has published its reaction to the Spring Statement here.  The Chancellor has left little room for manoeuvre because of her own fiscal rules but has committed an additional £2 billion for social and affordable housing for 2026/27. More broadly, the Office for Budget Responsibility has improved its forecasts for economic growth in 2026 and beyond but halved its growth forecast to 1 percent in 2025. With geopolitical uncertainty continuing, the impact of global trade policies on the UK economy remains to be seen and the wider impact on the UK economy will need to be carefully monitored.   On the tax front, a further package of measures to close the tax gap featured which aim to raise over £1 billion in additional gross tax revenue per year by 2029/30. As part of this, it was announced that Making Tax Digital for income tax is being extended to the £20,000 to £30,000 cohort from April 2028. Late payment penalties for certain taxes will increase from April 2025 and four consultations were launched in this space. A range of additional measured also featured in the Spring Statement publications.