Angela Craigan has been elected Chairperson of Chartered Accountants Ulster Society at its 119th Annual General Meeting. The Ulster Society represents more than 5,900 Chartered Accountants across Northern Ireland and is a district society of Chartered Accountants Ireland, the largest professional body on the island of Ireland.Speaking at the Society’s AGM, Angela Craigan, a Partner in Audit and Advisory at HM Chartered Accountants, committed to celebrating Chartered Accountants and member firms across Northern Ireland as “Difference Makers” having a huge impact both for the local economy and wider society.  Addressing members at the AGM, Angela said: “It is a real honour and privilege to take on this role and I’m genuinely excited about the year ahead.“Our Society has a strong focus on supporting our members and ensuring their voices are heard clearly and effectively. We are positive about Northern Ireland, its people, its business community, and its prospects.“We know that Northern Ireland punches well above its weight – and that resilience and determination are part of who we are.”Setting out her theme for the year, Angela said she wanted to celebrate Chartered Accountants and member firms as “Difference Makers”.She said: “Behind many of Northern Ireland’s success stories, you’ll find a Chartered Accountant helping to make things happen.“Helping businesses to grow, making organisations succeed, creating opportunities and helping communities to thrive. I want to celebrate the difference that our members are making every day with their clients, with their organisations, and in the local community.”Angela Craigan highlighted the role Chartered Accountants play across the private, public and voluntary sectors, describing members as trusted business leaders who help organisations and communities to move forward every day.She also said that Chartered Accountants have an important role to play in supporting Northern Ireland’s economic ambitions and helping the region achieve its full potential.Angela said: “We believe in Northern Ireland’s potential as a place to invest and grow. We want to see a bold and credible economic strategy which helps Northern Ireland become a real success story.“As Trusted Business Advisers, Chartered Accountants are helping to steer the business community, strengthen organisations, and support communities right across Northern Ireland. I want young people seeking purpose in their career choices to see that Chartered Accountancy can empower them to make a real impact.”Angela paid tribute to outgoing Chairperson Mark Lawther, praising his work to encourage and showcase innovation across Northern Ireland. Angela also thanked the Society’s volunteers, local team and members for their continued commitment and support.Originally from Moneyreagh, County Down and now living in Comber, Angela Craigan has worked with Belfast firm HM Chartered Accountants for the past 24 years.

In developments since the last edition, the Institute has responded to the Financial Reporting Council’s consultation on the proposed International Standard on Auditing for Less Complex Entities (ISA for LCE), emphasising the importance of a more proportionate and practical auditing framework. The Institute has also responded to the European Commission’s call for views on both the European Sustainability Reporting Standards and the sustainability reporting standard for voluntary use. The Institute’s Professional Accountancy team and Insolvency Committee has recently published Technical Alert 03 2026 Ethical considerations for Insolvency Practitioners which is supplementary in nature and is intended to assist members in understanding and applying the ethical requirements of the Code of Ethics in an insolvency context in the Republic of Ireland.Read more on these and other developments that may be of interest to members below. Financial Reporting The Financial Reporting Council (FRC) has concluded its annual review of FRS 101 and has issued ’Amendments to FRS 101 Reduced Disclosure Framework – 2025/26 cycle’.The International Accounting Standards Board (IASB) has published its May 2026 update and podcast.The IASB has issued its new standard IFRS 20 ‘Regulatory Assets and Regulatory Liabilities' which is effective for annual reporting periods beginning on or after 1 January 2029. The standard will affect companies subject to rate regulation that determines how much a company can charge customers and when it can charge them. IFRS 20 supplements the information a company provides when applying IFRS 15 Revenue from Contracts with Customers and replaces IFRS 14 Regulatory Deferral Accounts. For further information on this, please see the IASB’s IFRS 20 at a glance document as well as their webcast which provides an overview of the standard.Following the issuance of IFRS 20, the European Financial Reporting Advisory Group (EFRAG) has updated its Endorsement Status Report.The IFRS Foundation has published its 14th Compilation of Agenda Decisions issued by the IFRS Interpretations Committee.In December 2025 the IASB published an exposure draft IASB/ED/2025/1 ‘Risk Mitigation Accounting (Proposed amendments to IFRS 9 and IFRS 7)’ with comments requested by 31 July 2026. The comment letter deadline has now been extended to 30 November 2026.EFRAG has published its Annual Review 2025 which focusses on the organisation’s key achievements and strategic developments over the past year.EFRAG has published its feedback statement on its final comment letter issued in response to the Exposure Draft ED/2026/1 Amendments to the Fair Value Option for Investments in Associates and Joint VenturesThe UK Endorsement Board has issued an updated version of the 2026 UK-adopted IFRS Standards. This corrects an administrative error contained in the text of IAS 39 Financial Instruments of the previous version.Insolvency The Professional Accountancy team and Insolvency Committee has recently published Technical Alert 03 2026 Ethical considerations for Insolvency Practitioners. This Technical Alert is supplementary in nature and is intended to assist members in understanding and applying the ethical requirements of the Code of Ethics in an insolvency context in the Republic of Ireland. This guidance document is not a substitute for the Code of Ethics, and it is intended to highlight certain ethical requirements in the style of Questions and Answers relating to insolvency practice.  Auditing and Assurance Less Complex Entities. Chartered Accountants Ireland has responded to the Financial Reporting Council’s consultation on the proposed International Standard on Auditing for Less Complex Entities (ISA for LCE), emphasising the importance of a more proportionate and practical auditing framework. The submission highlights the potential for the standard to reduce unnecessary complexity while maintaining audit quality, improve scalability for practitioners, and support the attractiveness and sustainability of statutory audit for less complex entities.Narrow-scope amendments to ISA (UK) 620 and ISAE (UK) 3000. In order to maintain UK alignment with international auditing and assurance standards, the Financial Reporting Council (FRC) has launched a consultation on “Using the Work of an Auditor’s Expert”, seeking stakeholder views on narrow-scope amendments to ISA (UK) 620 and ISAE (UK) 3000. These proposed amendments respond to the International Ethics Standards Board for Accountants (IESBA)’s recently approved revisions to its International Code of Ethics for Professional Accountants, which introduced explicit ethical requirements for using the work of external experts in audit, assurance, and non-assurance engagements. Comments are requested by 10 July.  On 14 May 2026, the FRC hosted a webinar on Practice Note (PN) 28 for SME audits. The webinar covered how the PN was created, the considerations taken to ensure its appropriateness for the current audit landscape, and the FRC's plan to engage with auditors further on its application.The FRC announced an expansion of its sandbox programme, inviting audit firms and companies to work directly with the regulator to explore new technologies and innovation in audit technology including AI, simplify annual reporting, and reduce unnecessary burdens in the audit market. The FRC also published the output from its sandbox initiative on materiality for SMEs.IAASA has published its Annual Audit Programme and Activity Report 2025, providing an overview of their oversight of the audit profession in Ireland during the year.The report:Summarises IAASA’s supervision of auditors and recognised accountancy bodiesPresents the findings from the quality assurance reviews of public-interest entity auditorsOutlines enforcement activity during 2025Sets out IAASA’s planned regulatory engagement and priorities for 2026 Revised Auditing StandardsIAASA has published a feedback paper and revised certain Irish auditing and quality management standards following a public consultation. Please see the revised standards. As discussed in the feedback paper all respondents agreed that it is in the public interest that IAASA makes these revisions and were supportive of the proposed effective date of 15 December 2026.Key changes:Replacing “listed entity” with “publicly traded entity”Updating disclosures on additional ethical requirements for audits of public interest and publicly traded entitiesThese updates align with recent IAASB changes and apply across a range of ISAs (Ireland) and ISQMs.Sustainability Chartered Accountants Ireland has responded to the two European Commission’s (EC’s) call for views. (1) The draft European Sustainability Reporting Standards (ESRS). While welcoming the finalisation of the ESRS, the Institute has called for the EC to pursue some long-term goals while the standards are maturing. This includes ensuring that reporting entities have a period of stability where the standards remain unchanged and a greater focus on long term alignment with other global sustainability reporting standards. (2) The sustainability reporting standards for voluntary use. We outlined in our response that there is concern that the voluntary standard may not meet stakeholder needs or deliver sufficient value chain information and that the EC should monitor its effectiveness and uptake, and act if it falls short of its objectives. There may be gaps between the voluntary standard and requirements under the ESRS, particularly on value chain data. Accountancy Europe has provided its feedback to the European Commission’s draft delegated act with the revised European Sustainability Reporting Standards (ESRS).The International Sustainability Standards Board (ISSB) recently released a podcast hosted by ISSB Chair Emmanuel Faber and ISSB Vice-Chair Sue Lloyd discussing the latest developments around the ISSB.Anti-money launderingThe work of the EU’s Authority for Anti-Money Laundering and Countering the Financing of Terrorism (AMLA) on substantive delivery on its mandates continues. AMLA recently released a report of the Chair's Bruna Szego 2025 EU-wide Roadshow (between March and December 2025), documenting AMLA's first systematic engagement with supervisors, financial intelligence units, and private sector representatives across all 27 EU Member States.AMLA Executive Board Member Rikke-Louise Petersen delivered a keynote speech at the ACAMS General Assembly in Frankfurt on 12 May 2025, outlining AMLA's progress and priorities for the year ahead.AMLA’s first conference titled 'Building Trust, Enhancing Integrity: A New Chapter in the EU’s Fight Against Financial Crime' will take place on 9 June 2026 in Frankfurt, Germany.One focus of AMLA in 2026 is on developing regulatory technical standards (RTS) and guidelines (Level 2 and Level 3 measures) that will support a consistent and harmonised approach across the Union. Please refer to the AMLA's website where readers can find out more. The following draft RTS and guidelines may be of interest to readers:On 20 May 2026, AMLA held a public hearing on the draft RTS on group-wide minimum requirements and additional measures for subsidiaries and branches in third countries, covering the mandates under Articles 16(4) and 17(3) of Regulation (EU) 2024/1624. The slides from the session are also available on AMLA's website. On 28 May 2026, AMLA held a public hearing on the draft Guidelines on business-wide risk assessment (BWRA). The slides from the session are also available on AMLA’s website. AMLA launched a public consultation on the draft Guidelines on ongoing monitoring of a business relationship. A public hearing on these draft guidelines is planned for 2 July 2026, 10:00 - 12:00 CET. Registration is required for the public hearing, and members can register at the following link. The public consultation is open until 3 September 2026.Central Bank of Ireland (CBI)The CBI published its most recent Financial Stability Review assessing the risks and outlook for the Irish financial system.Artificial Intelligence The European Commission recently issued draft guidelines for providers and deployers clarifying the classification of artificial intelligence (AI) high-risk systems and a list of practical examples for stakeholder feedback. It has also launched a targeted consultation seeking feedback on the clarity of the guidelines and usefulness of the examples. The consultation is open until 23 June 2026.Minister of State for Trade Promotion, Artificial Intelligence and Digital Transformation, Niamh Smyth recently launched the “AI - Good for Business” initiative, to support Irish businesses adopting artificial intelligence into their day-to-day work. The UK's Information Commissioner's Office (ICO) published its response to the government on safe AI-powered innovation.CybersecurityThe National Cyber Security Centre (NCSC) in Ireland launched a new dedicated website designed specifically to support SMEs across Ireland in strengthening their cyber security resilience.The UK's National Cyber Security Centre (NCSC) published a press release regarding joint guidance on 'Careful adoption of agentic AI services'. The joint guidance was co-authored by the NCSC with international partners, which sets out why organisations should start small, use agents only for low-risk tasks, and apply established cyber security controls from the outset.The UK's NCSC published an article on '10 questions to ask when using AI models to find vulnerabilities'.The UK's Information Commissioner's Office (ICO) published a blog highlighting 'Five steps to protect your organisation from AI-powered cyber threats.'The EU's NIS Cooperation Group (comprising of EU Member States, the European Commission, and the EU Agency for Cybersecurity (ENISA)) recently agreed on common templates for incident reporting to simply NIS2 compliance and reporting obligations.The UK's FCA, Bank of England, and Treasury published a joint statement on frontier AI models and implications for cyber security and operational resilience. ENISA published its NIS360 report, which aims to work as an annual assessment tool supporting national authorities, policymakers and other stakeholders in assessing the cybersecurity maturity and criticality of high criticality sectors under the EU's NIS2 Directive (Directive 2022/2555). Please also refer to the summary press release regarding the NIS360 report. Digital Operational Resilience Act (DORA)The European Supervisory Authorities (EBA, EIOPA and ESMA) published their first annual overview of major ICT-related incidents in the EU financial sector based on a reporting mechanism established by the DORA. It shows that ICT risks are increasingly borderless and interconnected. The authorities also note that the recent evolution of highly capable AI-driven tools should encourage financial entities to strengthen cybersecurity measures to maintain their resilience going forward.Data ProtectionBusinesses across the UK need to establish a data protection complaints process, before new legal requirements come into force on 19 June 2026. From that date, all organisations will be legally required to handle data protection complaints under the Data (Use and Access) Act 2025. The UK's ICO is urging businesses, particularly small and medium-sized enterprises, to read relevant guidance now and take the straightforward steps needed to comply.Internal AuditThe Chartered Institute of Internal Auditors (Chartered IIA) in the UK and Ireland published the Risk in Focus 2026/27 Interim report. This report provides an early view of the survey results from 797 Chief Audit Executives (CAEs) and senior internal auditors into the risks that organisations across Europe and the UK expect to face and how internal audit functions are responding. The interim report notes that the top three ranked risks include cybersecurity, digital disruption/AI, and macroeconomic/geopolitical uncertainty.Chartered IIA in the UK and Ireland also published a report regarding 'The Future of the Internal Audit Profession' in the context of digital transformation, global uncertainty, and evolving organisational expectations. Chartered IIA in the UK and Ireland recently published a blog on the importance of interpersonal skills for internal auditors particularly in the context of AI.Other NewsIAASA has published its annual “Profile of the Profession” report for 2025. This analysis provides an interesting statistical profile of accountancy in Ireland and covers membership, students, regulation and monitoring.The International Valuation Standards Council (IVSC) has issued a new perspectives paper ‘Managing and Communicating Value Uncertainty’ that examines the difference between valuation risk and value uncertainty.The Financial Reporting Council (FRC) has issued finalised guidance to support pension scheme actuaries in providing retrospective confirmation to validate historic changes to pension scheme rules.The European Securities and Markets Authority (ESMA) has launched a consultation on the updated guidelines on standardised procedures and messaging protocols. This review is part of ESMA’s work to support market participants in preparing for the transition to a T+1 settlement cycle.The European Commission launched a public consultation seeking feedback on the functioning of the EU’s regulatory framework on crypto‑assets, the Markets in Crypto‑Assets Regulation (MiCA). The consultation seeks feedback on the main building blocks of MiCA and includes both a public consultation for individuals and a targeted consultation covering more technical and legal questions for stakeholders.The European Commission has put forward the European technological sovereignty package, which is a set of measures to strengthen the EU’s capacity in semiconductors, artificial intelligence (AI), cloud and open source. It will help Europe become a leader in AI, strengthen its digital autonomy, and help build a more sustainable digital future.For further technical information and updates please visit the Technical Hub on the Institute website.       This information is provided as resources and information only and nothing in the information purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the information. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of the information, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained herein. 

In Irish news, the Government has published the Annual Progress Report for 2026, and Revenue has published new guidance on filing of Pillar Two returns. In UK news, HMRC has published updated guidance on the process to follow for overseas agents who need to register under Mandatory Tax Adviser Registration, and next month is the 2025/26 benefits in kind and share scheme filing deadlines. In International news, the OECD has published a report on how tax policy can support a more dynamic and competitive business environment.Irish1. The Department of Finance publishes the Annual Progress Report (APR) for 2026. You can read more about this and access the APR here.2. Revenue publishes new guidance on filing of Pillar Two returns to further assist taxpayers and agents.UK3. HMRC publishes updated guidance on the process for overseas agents needing to register under Mandatory Tax Adviser Registration.4. 2025/26 expenses and benefits and employment related securities deadlines approach.International5. The OECD publishes a report on how tax policy can support the wider business environment.Keep up to date with all the latest Irish, UK, and international tax developments through Chartered Accountants Ireland’s Tax Tax Newsletter. Subscribe to the Tax News by updating your preferences in MyAccount. You can also read this week’s Cross-border Cross-border developments and trading corner and trading corner. 

In this week’s bulletin, read about the economic importance and environmental challenges of data centres, new measures to accelerate electric vehicle adoption, Central Bank warnings on maintaining financial resilience, and Ireland’s improving environmental performance and growth in the green economy. Updates also cover UK Carbon Budget targets, renewable energy progress in Northern Ireland, EU policy priorities focused on competitiveness, decarbonisation and resilience, and a new ISO standard for net-zero transition planning by financial institutions, as well as the usual resources, articles and events.Chartered Accountants Ireland Chartered Accountants Ireland and British Irish Chamber of Commerce will hold panel discussion on mobilising private-sector investment in infrastructure next Tuesday on 9 June. Ireland and the UK face significant infrastructure investment requirements over the coming decade. A recent British Irish Chamber of Commerce briefing with Sean O’Driscoll, member of the Accelerating Infrastructure Taskforce, highlighted that Ireland requires approximately €250bn in infrastructure investment, while the UK is expected to require £1tn over the next ten years. In both markets, private-sector finance will play a critical role in delivering the scale of investment required. As governments seek to accelerate infrastructure delivery and economic growth, this discussion will explore how private-sector investment can be mobilised, the barriers that remain, and the opportunities for collaboration across these islands. Members are encouraged to register for the session on Tuesday morning 9 June from 8am–10am in Chartered Accountants House which will be moderated by Michele Connolly, member of the Accelerating Infrastructure Taskforce and former Partner and Head of Global Infrastructure at KPMG. IrelandReport published into the value of data centres to Ireland The Minister for Enterprise, Tourism and Employment, Peter Burke, TD, has published an independent report prepared by KPMG which assesses the economic contribution and strategic importance of the data centre sector in Ireland. The report, titled “The Value of Data Centres to Ireland”, asserts that data centres are a critical component of Ireland’s digital infrastructure, supporting economic activity, employment and investment across the wider economy. Key findings of the analysis include that data centres underpin much of Ireland’s broader economic activity with over €100 billion in annual Gross Value Added (GVA), 875,000 jobs, and €14.6 billion in annual employment-related taxes. The report acknowledges that data centres are large energy users, and that challenges associated with further expansion of the sector include increasing energy demand, grid capacity constraints, and the need to manage carbon emissions in line with national climate targets. It highlights opportunities to support renewable energy deployment and to contribute to regional economic development through more balanced growth, and concludes that continued, managed development of the data centre sector will be critical to maintaining Ireland’s competitiveness, supporting digitalisation and enabling future economic growth.Separately, a report published by the United Nations University Institute for Water, Environment and Health this week examines what is describes as “one of the most underexplored consequences of AI’s rapid expansion: the environmental footprints of the energy required to power it”. The report, Environmental Cost of Artificial Intelligence: Carbon, Water and Land Footprints, shows that AI is not only a digital technology, but also a material system with measurable environmental cost. It singles out Ireland as an example of globally distributed AI services creating intense local pressures, and describes how data centres in Ireland accounted for 21 percent of total metered electricity in 2023, exceeding all urban households, and how the national grid operator has paused new approvals around Dublin until 2028: “Ireland [is] a concrete, documented example of what happens when AI infrastructure growth outpaces energy planning — and a preview of what other countries are heading toward.”€10 million funding for scheme accelerating switch to electric vehiclesA new scheme has been introduced to accelerate the transition from older, high-emitting internal combustion engine vehicles to cleaner electric vehicles (EVs). The ICE2EV Scheme, which will launch on 1 July and will be administered by the Sustainable Energy Authority of Ireland (SEAI), is a targeted measure that aims to remove fossil-fuel powered vehicles aged over 13 years from Ireland’s private car fleet and replace them with new battery EVs. Read more from Chartered Accountants Ireland here. Central Bank warns that resilience must be protectedA Central Bank review has found that Ireland's financial system is starting from a position of strength, but that resilience must be protected. The Financial Stability Review, which assesses the risks to – and resilience of – the Irish financial system has found that risks to Ireland's financial system from the global environment have intensified. Commenting on the publication, Governor Gabriel Makhlouf said that a sustained energy shock could intensify cost pressures for businesses and households: “This is why preserving resilience is so critical right now. Strong capital buffers in our banks, prudent lending standards, and robust operational defences are essential to ensure the financial system continues to serve households and businesses.”  Ireland’s economy less resource- and emissions-intensive, says CSO reportIreland’s economy is becoming less resource-intensive and less emissions-intensive and is producing fewer greenhouse gas emissions per unit of economic activity, according to a snapshot of key environmental indicators published by Central Statistics Office (CSO) ahead of World Environment Day on Friday 5 June. Read more from Chartered Accountants Ireland here.Ongoing barriers in infrastructure delivery need to be researched, seminar finds“Now is the time to begin researching the barriers to be tackled in the next Accelerated Infrastructure Delivery Plan”. This was the key action suggested by the National Economic & Social Council (NESC) Secretariat at a seminar recently held in the Department of Public Expenditure, Infrastructure, Public Service Reform and Digitalisation. The event was a strategic policy seminar for the Irish Government Economic and Evaluation Service (IGEES), the cross-government network of economists and policy analysts in various Irish government departments, the main goal of which is to improve public policy by ensuring that government decisions and spending are backed by data and economic analysis. Presenting his paper Addressing Trade-Offs in the Energy Transition Dr Cathal Fitzgerald, Senior Analyst at NESC said that research is needed on cultural, behavioural, and political barriers in the policy system and recommended, among other things some empirical work on rational risk aversion: “The current Accelerated Infrastructure Delivery Plan can rightly tackle legal, planning, regulatory, social, and operational barriers, and should be implemented without delay. However, Ireland’s persistent problem in delivering infrastructure across many sectors suggests that there are other issues at play.”UK/Northern IrelandUK government sets out proposed level for the seventh Carbon BudgetThe UK has set out its proposed level for the seventh Carbon Budget, setting a science-led target of 87 percent emissions reduction in the period 2038 to 2042, as endorsed by the Environmental Audit Committee and the Climate Change Committee. The announcement comes as an independent report from the Energy and Climate Intelligence Unit shows that the net zero economy supports over one million jobs in the UK, adding £105 billion in gross value added (GVA)  to the UK economy in 2025 alone. In October 2025, the government had published the Carbon Budget and Growth Delivery Plan, which brings together the actions being taken across government to meet carbon budgets 4-6, from 2023 to 2037.Report finds high level of public concern in Northern Ireland about environmental issues The Northern Ireland Environmental Statistics Report has been published today by the Department of Agriculture, Environment and Rural Affairs (DAERA). The statistical report, which is produced annually, contains information on a range of environmental indicators in Northern Ireland such as Public Attitudes and Access to Nature; Climate Change; Air; Water and Marine; Biodiversity and Land; Waste and Historical Environment. The report finds that the level of public concern about environmental issues was high in 2025/26, with 73 percent ‘very’ or ‘fairly’ concerned about the environment. Also revealed was that in 2025/26 illegal dumping of waste and litter (34 percent) was the greatest environmental concern for households in Northern Ireland followed by pollution of air, water and soil (29 percent). Northern Ireland’s greenhouse gas emissions were estimated to be 18.2 MtCO2e in 2023, a reduction of 31.5 percent since 1990 baseline levels, with urban traffic nitrogen dioxide levels having also decreased in 2025. Electricity Consumption and Renewable Generation in Northern Ireland: Year Ending March 2026Findings in the recently published ‘Electricity Consumption and Renewable Generation in Northern Ireland: Year ending March 2026’ report, which details the contribution of electricity generated from renewable sources in the region, show that more electricity was generated from renewable sources in the year to March 2026 than in the previous year, with the majority (73 percent) generated from wind. This was followed by bioenergy (19%), solar PV (6%), landfill gas (1 percent) and hydro / tidal generation (1 percent).The report aids reporting on performance against the commitments in the Energy Strategy ‘Path to Net Zero Energy’ and the Climate Change Act target which is to “ensure that at least 80% of electricity consumption is from renewable sources by 2030.”Europe EU Commission adopts 2026 European Semester Spring Package The EU Commission has adopted the 2026 European Semester Spring Package setting out policy guidance for Member States, with a particular focus on strengthening the EU’s competitiveness, strategic autonomy, as well as economic and social resilience and cohesion, while maintaining fiscal sustainability. The package responds to “escalating global tensions, heightened security risks and climate-related challenges, alongside volatile energy prices and persisting cost of living pressures continue to weigh on Europe's economy, affecting both households and businesses”, and focuses on unlocking the full potential of the Single Market, closing the innovation gap, accelerating decarbonisation and reducing strategic dependencies, while promoting jobs and skills, tackling the housing crisis and ensuring social fairness and cohesion. "Climate impacts and preparedness in Europe" portal updates The "Climate impacts and preparedness in Europe" web portal produced by the European Environment Agency has recently been updated with newest data on how most relevant climate hazards are impacting Europe and improved usability. It answers three key questions: What is Europe adapting to? How is Europe adapting? What enables or blocks progress towards resilience?Investing in preparedness and climate adaptation pays off, economically and socially, by reducing damage, protecting livelihoods, and strengthening resilience as climate impacts intensify. As temperatures continue to rise across Europe, human and economic costs are rising too. Despite ongoing efforts to cut greenhouse gas emissions and boost adaptation efforts, economic losses from weather and climate-related events were €822 billion over the period 1980-2024, with 25 percent of losses occurring between 2021-2024, and with losses per year of c.€40–50 billion. By comparison, the European Union budget for supporting the bloc’s agricultural sector is €386.6 billion for the period 2021–2027, roughly €55 billion a year, representing 30 percent of the EU budget.WorldThe International Organization for Standardization (ISO) has published a new standard for net-zero transition planning by financial institutions designed to protect and enhance value by supporting institutions’ response and contribution to a global net zero and climate-resilient economy. ISO 32212 Sustainable finance — Net zero transition planning for financial institutions  applies to any financial institution, regardless of size, type and geographic location, with a particular focus on banking, insurance and investment institutions. Its provisions are applied in the context of the institution’s particular business model. The requirements and recommendations are designed to enable financial institutions to develop and maintain transition planning objectives and targets that advance the temperature and resilience goals of the Paris Agreement, and establish robust policies and processes to integrate these into their financial activities.Technical Roundup(From our colleagues in Professional Accounting)Chartered Accountants Ireland has responded to the two European Commission’s (EC’s) call for views:The draft European Sustainability Reporting Standards (ESRS). While welcoming the finalisation of the ESRS, the Institute has called for the EC to pursue some long-term goals while the standards are maturing. This includes ensuring that reporting entities have a period of stability where the standards remain unchanged and a greater focus on long term alignment with other global sustainability reporting standards.The sustainability reporting standards for voluntary use. The Institute outlined in its response that there is concern that the voluntary standard may not meet stakeholder needs or deliver sufficient value chain information and that the EC should monitor its effectiveness and uptake, and act if it falls short of its objectives. There may be gaps between the voluntary standard and requirements under the ESRS, particularly on value chain data.Accountancy Europe has also provided its feedback to the European Commission’s draft delegated act with the revised European Sustainability Reporting Standards (ESRS).Resources New guidance on finance teams’ need to consider climate and nature Accounting for Sustainability (A4S) has created a nature guidance series to give finance teams the practical guidance and tools to help understand the link between nature and climate change, and actions to take to reflect this in financial decision making. Articles94,000 jobs on the line if Irish data centre capacity restricted (Business Post)Data centres a 'strategic opportunity' for Irish economy - Minister for Enterprise (RTÉ News)Ireland’s data centre strain a ‘cautionary tale’ for rest of world, UN says (Irish Times)In a time of sky-high oil prices, should Ireland go nuclear? (Irish Times) New laws to make gender pay reporting website mandatory for employers (Irish Independent)Two steps back, but three forward for sustainability reporting (Reuters)Mineral waste could supply more than half of Europe’s critical demand by 2050 (SustainabilityOnline.net)EventsEuropean Environment Agency, Webinar: What are the benefits of circular economy?Transition to a more circular economy will not make products rounder. A circular economy reduces pressures to the environment and climate, while it fosters our economic security. But how much good precisely does a circular economy do?Virtual, Jun 11, 2026 from 12:00 PM to 1:00 PMDublin Chamber, New EU Packaging Rules: Briefing with Repak The EU’s new Packaging and Packaging Waste Regulation (PPWR) will bring major changes for businesses across Ireland and Europe. Join Dublin Chamber and Zoe Kavanagh, CEO at Repak, for a practical and commercially focused briefing exploring what PPWR means for Irish businesses, the timelines companies need to be aware of, and the steps organisations should begin considering today. In person, Wed 17 Jun 2026, 08:30 AM - 10:00 AM, Dublin Chamber, 7 Clare Street, Dublin 2 D02 F9O2Sustainability CentreYou can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.  

Ireland’s economy is becoming less resource-intensive and less emissions-intensive and is producing fewer greenhouse gas emissions per unit of economic activity, according to a snapshot of key environmental indicators published by Central Statistics Office (CSO) ahead of World Environment Day on Friday 5 June. The CSO snapshot looks at how Ireland interacts with our environment and how our behaviour is changing. Key findings include that newer homes are more energy efficient, that the number of homes using solar energy in their Building Energy Rating (BER) rose by 7 percent from 2021 to 2025, and that the number and share of EVs continues to rise among new private cars. Environmental protection expenditure by Government, households, and corporations was estimated to be €3.2 billion in 2023, and the extent of our Forest and Woodland ecosystems grew between 2018-2021 by 4,500 hectares of broadleaved deciduous and mixed forests (the equivalent to 3,800 full size GAA pitches). Looking at the Green Economy, the snapshot finds that Gross Output of the Green Economy was €12.1 billion in 2023, up 10 percent on 2022 and it supported 48,400 Full-Time Equivalent (FTE) jobs, which was up 13 percent on 2022. It also found that between 2010 and 2022 waste that was landfilled in Ireland fell in terms of both volume, down from 3.8 million tonnes to 2.6 million tonnes, and as a proportion of total waste treated, down from 40 percent to 19 percent.The CSO’s Climate & Environment directorate produces independent data on emissions, energy use, and environmental sustainability. These national statistics provide data on the interaction between the economy, society, and the environment, as well as insight for policy makers and benchmarks with Europe.

A new scheme has been introduced to accelerate the transition from older, high-emitting internal combustion engine vehicles to cleaner electric vehicles (EVs). The ICE2EV Scheme, which will launch on 1 July and will be administered by the Sustainable Energy Authority of Ireland (SEAI), is a targeted measure that aims to remove fossil-fuel powered vehicles aged over 13 years from Ireland’s private car fleet and replace them with new battery EVs. The initiative is backed by €10 million in funding from the Climate Action Fund under the Department of Climate, Energy and the Environment. To ensure balanced access, 65 percent of the funding will be allocated to rural applicants and 35 percent to urban applicants, based on Central Statistics Office Census 2022 definitions. Also announced was a planned reduction of the maximum eligible vehicle price threshold for the SEAI Electric Vehicle Purchase Grant from €60,000 to €50,000 in order to target funding for the EV transition towards lower-price-bracket cars. The change aims to enable a greater proportion of the funding available within the National Development Plan to support the roll-out of public charging infrastructure in line with the draft EV charging strategy, published in February 2026.The amended price threshold will come into place for new applications received after 31 July 2026 and will not affect applications approved or submitted prior to this date, which will continue to be assessed under the current threshold.Further details on ICE2EV, including the application processes, will be made available by the SEAI ahead of the launch date.

Qualifying as a chartered accountant is a major milestone — but it’s also the point where your career choices begin to expand rapidly. With multiple pathways available across industry, practice, and financial services, how you present yourself on paper and in interviews will play a critical role in shaping your next move.Take Control of Your Early CareerAs a newly qualified chartered accountant, it’s important to approach your career with intent. Think of it as a long-term project rather than a series of short-term decisions. This means planning ahead, understanding different career routes, and thinking two moves beyond your immediate next role.Building a strong professional network is essential at this stage. Connecting with peers and slightly more experienced chartered accountants can provide valuable insight into career pathways and opportunities. Mentors can also play a key role in helping you assess your options and make informed decisions.Your CV: A Strategic Sales ToolYour CV is your personal marketing document. Its purpose is simple: to clearly show the value you bring and secure an interview. As a newly qualified chartered accountant, you should focus on highlighting your achievements during training—client exposure, technical experience, and measurable contributions.Strong CVs are:- Achievement-focused: Quantify your impact where possible.- Clear and concise: Use direct language such as “led,” “delivered,” or “analysed” .- Structured: Show career progression with no unexplained gaps.- Tailored: Adapt your CV depending on the role you are applying for.It’s also important to include relevant details such as your degree results, systems experience, and exposure to different sectors or clients. Always ask yourself after each bullet point: “What value does this show?”Optimising for Modern RecruitmentMany employers now use AI to screen CVs, so your application needs to work for both technology and people. As a Chartered Accountant, ensure you include relevant keywords such as ACA, financial reporting, audit, tax, or FP&A—depending on your experience.Keep formatting simple and professional. Avoid graphics, tables, or overly creative layouts, as these can interfere with automated screening systems. A clear, clean CV is far more effective than a visually complex one.Building Your Professional BrandYour LinkedIn profile acts as an extension of your CV and is increasingly important for all newly qualified professionals. Make sure it reflects your status as a Chartered Accountant and highlights your key achievements and areas of expertise.A strong LinkedIn presence includes:- A professional photo- A clear title and About section featuring key words- Evidence of achievements and skills- Engagement with relevant content and organisationsPreparing for InterviewsAt interview stage, preparation is the key differentiator. Every interview should be approached in a tailored way—understanding the role, the company, and what they are looking for in a newly qualified Chartered Accountant.Focus your preparation around:1 Your key achievements and examples2 Your strengths and areas for development3 How your experience aligns with the role4 Insightful questions for the interviewerPerforming with ConfidenceDuring the interview, your goal is to combine technical competence with strong interpersonal skills. Employers are not only hiring a Chartered Accountant—they are hiring someone who can communicate, build relationships, and contribute to the wider team.Key points to remember:- Listen carefully and engage- Maintain confident body language and eye contact- Bring your personality into the conversation- Clearly articulate your value and ambitionsSetting Yourself Up for Long-Term SuccessQualifying as a Chartered Accountant opens the door to a wide range of opportunities, but success comes from ongoing career management. Keep your CV updated, refine your interview skills, and continue building your network.I hope the above is useful and remember that upon qualification the full suite of Member Services becomes available to you including your Careers Team so make it your first touchpoint post FAE’s and we will help you navigate the market and career decisions going forward.  Dave Riordan FCA Careers Advisory & Recruitment Specialist Chartered Accountants Ireland Dave.riordan@charteredaccountants.ie

 Modern and functioning infrastructure is critical to the economy and society across the island of Ireland. It is vital to economic resilience and competitiveness, to the decarbonisation of our electricity grid and our transport networks, to building homes, and to the delivery of clean drinking water.Ireland’s record on infrastructureIreland is capable of constructing high quality infrastructure, as can be seen from the successful completion of high-speed broadband connections, state of the art schools, roads and Dublin’s light rail Luas system. The commitment to the Luas project enhanced market confidence to develop and deliver new housing and amenities as the surrounding stops became attractive places to live due to the network’s connectivity.  Between 2011 and 2022, the population within its catchment grew by from 21%-26% and 300,000 jobs within the Dublin Metropolitan Area are now within a 15-minute walk from a Luas stop. Luas commuters have added over €5 billion in Gross Value Added to the economy. In addition at least 10,000 new jobs in the services and technology sectors have located along Luas corridors in the lifetime of the Luas. However, in other instances Ireland’s progress in delivering vital infrastructure has been impeded by under-investment during the financial crisis, as well as by constraints and delays in the approval, planning and procurement processes. Not only have these impacted Ireland’s ability to deliver projects vital for reaching economic, social and environmental targets, they have led to a negative perception of Ireland’s ability to deliver critical infrastructure. This in turn puts Ireland’s ability to attract and retain Foreign Direct Investment at risk, increases the cost to citizens and businesses, and results in poorer services, missed commercial opportunities and environmental degradation.Planning for our futureFurther sustained investment will be critical to Ireland’s success. The delivery of infrastructure is not an issue that can be reserved solely for the public sector and Government. Ireland’s revised National Development Plan commits a record €275.4 billion in public capital investment through 2035. Under this framework, the government has allocated over €102 billion specifically for the 2026–2030 sectoral capital allocations to heavily fund critical utilities, housing delivery, and transport. However, State funding must be augmented by private investment in infrastructure. Attracting this investment requires stronger national and international advocacy from government, businesses, and society to support a positive image of Ireland.Commenting, Head of Public Policy Grant Sweetnam said: “Public discourse around infrastructure must be characterised by ambition and confidence in Ireland’s ability to deliver projects.  We as a country, a society and a business community have a collective interest in getting infrastructure right and we all, from the Government down, need to do a better job making the case for major pieces of infrastructure. The business community needs to stand up and be a passionate advocate for infrastructure projects.”Throughout the lifecycle of infrastructure projects Chartered Accountants Ireland members play an enormous role both in the private sector and public sector. They undertake and assess detailed cost benefit analyses. They identify and quantify risk and examine ways to mitigate it. They provide strategic insight on the most commercially viable options.The Institute’s position: share your perspectivesAs part of our policy work Chartered Accountants Ireland is developing a formal position on infrastructure, with a particular focus on the need to mobilise sufficient finance to support delivery. This work aligns with the objectives of the Accelerating Infrastructure Taskforce. To inform our approach, we have been engaging with stakeholders across business and wider society to gather insights that will shape a constructive, solutions-focused contribution on behalf of our 40,000 members. We welcome member perspectives. Please email: grant.sweetnam@charteredaccountants.ie or susan.rossney@charteredaccountants.ie to contribute.Panel discussion event next weekWe are also hosting a joint event with The British Irish Chamber of Commerce and Chartered Accountants Ireland with an expert panel discussion on Mobilising Private-Sector Investment in Infrastructure. Members are encouraged to register for the session on Tuesday morning 9 June from 8am–10am in Chartered Accountants House. The programme will include a panel discussion featuring Ashleen Feeney, Partner, KPMG Northern Ireland, Donal Murphy, Senior Investment Director, Ireland Strategic Investment Fund, James O'Reilly, Chief Executive Officer, Greenlink Interconnector Limited, Seamus Flynn, Managing Director Ireland/UK, Indaver and TJ Hunter, Managing Director, Perigus Energy.Register here 

 Being an accounting student is challenging. You have to contend with work, lectures, study, the pressure of exams and new ways of learning. At the same time, you may be experiencing personal obstacles. Over time, these duties and responsibilities combined can give rise to sustained pressure, to the detriment of your well-being. Why do people need help?Our lives and past experiences shape us, affecting our mental health, and the factors that can cause a decline in our well-being differ for everyone. Students come to us for help for various reasons, but the primary motivators tend to centre on exam pressure and stress, workplace grievances, poor work-life balance, and other personal circumstances, such as illness, grief or family and relationship matters. In 2025, we witnessed a significant increase in the number of students contacting Thrive for help. Most seek support during study leave or exam periods. It is encouraging to see so many take the brave and difficult step to seek help, but earlier intervention in the student journey is important. We want to help prevent students from becoming too overwhelmed and offer support before they falter under the pressure and demands. Numerous factors can negatively impact our mental well-being. Some we can control. Here are five steps you can take yourself to help your mental health: 1. Nourish your mind and body Good nutrition and regular physical activity can offset and relieve stress and feelings of anxiety. Simple things like staying hydrated, reducing caffeine intake, and walking in nature can help.2. RestThe power of sleep in helping to regulate our stress levels should not be understated. Stress and anxiety can lead to sleeping problems, and a lack of sleep can affect your general well-being. 3. Practise mindfulness and meditation Practising mindfulness allows you to become more aware of your emotions and help manage them. Mindfulness can become a valuable tool for easing stress and anxious thoughts with regular practice. 4. Engage in self-compassion and self-care Be kind and encourage yourself. Being hard on ourselves is an all-too-common pattern. Self-compassion is the ability to treat yourself with the same care and kindness as you would a good friend who is going through a difficult or stressful time. Developing compassion within ourselves can help us cope with adversity and make difficult situations more manageable. 5. Seek out professional services, like Thrive How we feel can become all-consuming. If you are struggling, the best thing you can do for your mental health and well-being is to reach out and talk to a professional. Seeking professional support can help you manage stress and poor mental health. The Thrive well-being hub provides a comprehensive mental health and well-being programme that offers a wide range of services tailored to our students’ well-being. All services are delivered in complete confidence and are available at any stage of your journey with the Institute. For more advice or information, check out Thrive’s dedicated well-being hub. Alternatively, you can contact the well-being team by email at: thrive@charteredaccountants.ie or phone: (+353) 86 0243294.

The Professional Accountancy team and Insolvency Committee has recently published Technical Alert 03 2026 Ethical considerations for Insolvency Practitioners. This Technical Alert is supplementary in nature and is intended to assist members in understanding and applying the ethical requirements of the Code of Ethics in an insolvency context in the Republic of Ireland. This guidance document is not a substitute for the Code of Ethics, and it is intended to highlight certain ethical requirements in the style of Questions and Answers relating to insolvency practice.

In this week’s cross-border trading corner, we bring you the latest guidance updates and publications. The most recent Trader Support Service bulletin is also available as is the latest Brexit and Beyond newsletter from the Northern Ireland Assembly EU Affairs team. Miscellaneous guidance updates and publicationsThis week’s miscellaneous guidance updates and publications are as follows:Apply to claim a repayment or remission of import duty, or reclaim state aid used on ‘at risk’ goods brought into Northern Ireland,Import goods into the UK: step by step,Lost or stolen ATA Carnets or goods covered by a carnet,Destroying goods listed on an ATA Carnet,Destroying goods listed on an ATA Carnet,Transferring an ATA Carnet to another person,How to use your ATA Carnet,Applying for an ATA Carnet,Extending the use of goods abroad when covered by an ATA Carnet,Using the ATA Carnet,Customs prohibitions, restrictions and licences,Replacement ATA Carnets and extensions,Ports, border facilities and logistics,General list of goods,Applying for an ATA Carnet,Legal and regulatory framework,Country specific requirements and variations,Structure of the ATA Carnet, andAdditional forms and procedures.

In this week’s detailed miscellaneous updates which you can read more about below, HMRC has published the latest Spotlight which looks at a property business scheme being marketed to landlords, and a VAT brief of relevance to the further education sector has been published.In addition to the above, readers should also note the following:The minutes of the March 2026 Employer and Payroll Group stakeholder forum, which the Institute participates in, have been published,The National Insurance Contributions (Employer Pensions Contributions) Act 2026 received Royal Assent on 29 April 2026. This legislation gives HM Treasury the power to make regulations to introduce the £2,000 cap on the National Insurance Contributions exemption for salary sacrificed pension contributions from April 2029,HMRC has published a technical note providing a summary of the new  rules for Inheritance Tax on unused pension funds which will apply to deaths on or after 6 April 2027, and finally,In a landmark case HMRC has lost is argument in the Professional Game Match Officials Ltd (PGMOL) case. Last month’s judgment ruled in favour of PGMOL when it held that the contracts of football referees officiating matches in the English Football League were contracts for services and not contracts of employment, and as a result that the referees were self-employed.Latest Spotlight shines light on property schemesHMRC’s latest Spotlight, number 63a, has been published to warn landlords against using a scheme, sometimes referred to as a hybrid business model, which is being marketed as a way to structure a property business in order to reduce tax. Effectively, the model claims to:bypass mortgage interest relief restrictions, thereby falsely allowing increased deductions for mortgage interest for residential properties, andreduce the amount of tax payable on profits from their property businessHMRC’s view is that the scheme does not work. The Spotlight therefore warns landlords who use these arrangements that they could end up paying more tax than they tried to avoid, along with interest, penalties and high fees.The Spotlight explains in detail: how the scheme is intended to work;why HMRC believes that it does not produce the intended tax savings, and what actions taxpayers who have used the scheme should take. HMRC VAT brief for further education institutions HMRC has published Revenue and Customs Brief 3 (2026) following the Court of Appeal  (CoA) decision ‘HMRC v Colchester Institute Corporation [2026] EWCA Civ 363’. In this case, the CoA upheld the decision of the Upper Tribunal that monies received by a further education institution were third party consideration paid by the funding agencies for the supply of education to students. HMRC historically took the view that monies received by these institutions from government funding agencies was a grant and therefore the activity it funded was outside the scope of the VAT system. However, Colchester Institute Corporation successfully argued that the monies represented third party consideration paid by the funding agencies for the supply of education to students.HMRC is not appealing this decision and will consider the decision in consultation with stakeholders. It will announce any policy change in a future brief. HMRC also explains the position for taxpayers who followed the guidance in Revenue and Customs Brief 08/21.