Revenue has published its Protected Disclosures Annual Report for 2024 which provides information on both internal and external protected disclosures received in 2024. The report notes a significant increase in the number of disclosures, regarding potential tax or duty non-compliance, received by Revenue through its external reporting channels. Revenue has internal reporting channels and procedures in place for both current and former staff who wish to make a protected disclosure. In 2024, five reports were considered under Revenue’s policy on protected disclosure reporting. One report was closed following a comprehensive assessment by the Protected Disclosures Group which determined that there was no evidence of a relevant wrongdoing. Assessments of the other four reports, all received in Q4, were on-going on 31 December 2024. External protected disclosures are reports made by workers who are employed by a business, individual or organisation, other than Revenue, that contain information about potential wrongdoing related to tax, duty or customs controls. In 2024, a total of 930 reports were received through Revenue’s external protected disclosures channels with 171 reports assessed as meeting the criteria to be considered as a protected disclosure. The majority of the remainder of the reports related to reports of tax evasion not encountered in a work-related setting and this information was referred to the relevant Revenue Division for appropriate action. Compliance interventions opened on foot of the receipt of information in a protected disclosure report yielded over €1.2 million in additional taxes and/or duties for the Exchequer in 2024. Commenting on today’s publication, Revenue’s Director of Internal Audit, Leeann Kennedy said: “Revenue welcomes all reports of information regarding suspected tax non-compliance or tax evasion. Workers who provide information to Revenue under the framework of the Protected Disclosures Act are afforded a range of important legal protections. Revenue will always safeguard the worker’s identity”.

Revenue has updated the its guidance on the provision of staff awards to include a new table which summarises the tax treatment of certain staff awards. The summary table outlines the circumstances when certain award types are non-taxable. The award types listed in the summary table include staff suggestion schemes, long service, special increments and exceptional performance awards. Examination and course related awards are also mentioned.

Revenue has recently updated three other Tax and Duty Manuals. The updated manuals relate to remote working, expenditure on approved buildings and gardens and local property tax direct debits. Details are set out below. The guidance on Expenditure on Approved Buildings and Gardens has been updated to outline the process for applying via myEnquiries for a determination by Revenue allowing reasonable public access to the building or garden. The Tax and Duty manual Remote Working Relief has been updated to remove reference to  2020 as this year of assessment is now outside the timeframe for making a claim. The updated Tax and Duty manual Local Property Tax Direct Debit Guidelines provides further clarity in the overview section on valuation dates and the reference to cheque as a payment option has been removed.

On 31 March 2025, the OECD/G20 Inclusive Framework on BEPS, updated its central record of legislation with transitional qualified status to include two new qualifying jurisdictions, Guernsey and Spain. The central record includes details of the jurisdictions whose local implementation of the Pillar Two global minimum tax rules has been assessed as “qualified”.

John O'Loughlin examines the global trade crisis sparked by Trump’s “Liberation Day” tariffs and their sweeping impact on EU exports and businesses US President Donald Trump’s “Liberation Day” announcement marked a significant and historic escalation of the US approach to international trade and tariffs. Exports from the European Union (EU) to the US are now in scope of Trump’s tariffs and some businesses will be significantly impacted by this latest round of measures. Immediate changes and impact  On Wednesday 2 April, the Trump Administration announced wide-ranging “reciprocal” tariff measures. President Trump invoked his authority under the International Emergency Economic Powers Act of 1977 (IEEPA) to address the “national emergency” posed by the large and persistent trade deficit. These measures, imposed on all global trading nations, apply a blanket additional tariff rate on all products imported into the US. As expected, the measures were applied on a country-by-country basis with the following key markets impacted by the following additional tariffs: European Union: 20% United Kingdom: 10% China: 34% Japan: 24% Switzerland: 31% Brazil: 10% Australia: 10% India: 26% South Korea: 25% In addition to the above, a further 60 or so countries will have reciprocal tariffs applied at half the rate they charge the US, according to the Trump administration. These measures are due to be implemented on 9 April. Further to these specific tariffs, all other countries not listed will be subject to a baseline rate of 10 percent, which will be imposed from 5 April and will be in addition to the standard rate of duty (most-favoured nation rate).  The Executive Order imposing the “reciprocal” tariff rates have specifically excluded certain product categories which will not be subject to these new measures. These products include: Steel and aluminium articles already subject to additional tariff measures;  Auto and auto parts already subject to tariff measures implemented on 3 April; Copper; Pharmaceuticals; Semiconductors; Lumber articles; and Energy and certain other minerals that are not available in the United States.  Regarding imports from Mexico and Canada, those that meet the US-Mexico-Canada Free Trade Agreement (USMCA) rules will not be subject to additional tariffs. However, goods that do not meet the rules under the USMCA will continue to be subject to the 25 percent tariffs imposed on 4 March. Trump’s tariffs have created a trade crisis on a global scale affecting companies across all sectors. These tariffs will remain in effect until he determines that the threat posed by the trade deficit— and underlying nonreciprocal treatment—is satisfied, resolved or mitigated. Other tariff measures As announced on Wednesday 26 March, 25 percent tariffs on imports of foreign-made cars came into effect on 3 April. The tariffs will impact cars from all countries with a value-based exception for the US value of cars covered by the USMCA. Additionally, on Monday 25 March, Trump also announced the possibility of a 25 percent additional tariff on countries purchasing oil or gas from Venezuela, with an implementation date of 2 April. As of yet, no tariffs under this measure have been imposed. Further to previous Executive Orders regarding tariffs on imports of Chinese goods, President Trump has signed an Executive Order removing the de minimis treatment for goods of Chinese and Hong Kong origin, effective from 2 May. This order imposes duties on goods valued at or under $800 which would otherwise have qualified for an import duty exemption. USTR Foreign Trade Barriers Report On 31 March, the United States Trade Representative (USTR) published its 2025 National Trade Estimate Report on Foreign Trade Barriers – a wide-ranging report highlighting foreign barriers to US exports, US foreign direct investment and US electronic commerce. Ireland is specifically noted within the report, but references are limited to commentary regarding alcohol labelling and reimbursements related to pharmaceutical products. European retaliatory measures On 12 March, the European Commission announced countermeasures in response to the US tariffs on steel and aluminium products, which it deems "unjustified".  Following a period of consultation, the EU has postponed the implementation of these measures until 15 April. These tariffs range from 10 percent to 75 percent with the majority of products falling within the 25 percent category. Additionally, the EU is set to announce further countermeasures on a wider range of goods. EU reaction On Tuesday 1 April, comments by European Commission President Ursula von der Leyen indicated that the EU is prepared to retaliate against the US, if necessary, in response to Trump's tariff hikes. “Europe has not started this confrontation, we do not necessarily want to retaliate but, if it is necessary, we have a strong plan to retaliate and we will use it,” von der Leyen said. She further emphasised the significance of the US-EU trading relationship, noting that their trade volume is $1.5 trillion and that one million American jobs rely on this trade. Von der Leyen reiterated that Europe is open to negotiations, stating, "We will approach these negotiations from a position of strength. Europe holds many cards, from trade to technology to the size of our market. However, this strength is also built on our readiness to take firm countermeasures if necessary. All instruments are on the table.” Actions for businesses In anticipation of these tariffs, companies have placed significant focus on analysing their own data and scenario planning for the impact of tariffs. With Trump’s announcement, businesses should shift their focus to tariff mitigation strategies and options, including customs origin, valuation and tariff classification. Duty relief programs should also be considered. It is expected that the EU will push ahead with its retaliatory measures and other countries may look to introduce similar measures. Trump’s executive orders also contain modification authority allowing him to increase the tariff if trading partners retaliate, or reduce the tariffs if trading partners take significant steps to remedy non-reciprocal trade arrangements and align with the US on economic and national security matters. John O'Loughlin, Partner, Global Trade and Customs, PwC Ireland

Organisations must reimagine their approach to data protection, mitigating risk and adapting to new regulations in a fast-changing environment. David O’Sullivan explains why As we enter the second quarter of 2025, the data privacy landscape is on the cusp of transformative change. Rather than reacting to headlines, organisations are now compelled to reimagine their approach to data protection, blending strategic foresight with a renewed commitment to ethical stewardship. Here, we outline our top 10 data privacy predictions for the remainder of the year, pinpoint in the key trends that will shape how organisations handle compliance, mitigate risks and adapt to regulatory changes. 1. Changing DPO role in AI governance As artificial intelligence (AI) relies heavily on quality data, data protection officers (DPOs) are crucial in helping organisations understand and use their data effectively. Given the overlap between data protection and AI governance, DPOs are increasingly managing AI compliance and governance. Both roles require the ability to coordinate cross-functional teams and adapt to evolving challenges. 2. Privacy by design and privacy-enhancing technologies  With the growing need for data in AI, protecting that data and transforming it into privacy-enhancing or anonymised formats is becoming ever more essential. These tools enable organisations to benefit from their data while maintaining privacy. Privacy by design is a principle-based approach that is set to become increasingly popular, prompting organisations to review their processing activities in depth, reducing risk and improving compliance management. 3. GDPR compliance frameworks Europe's digital regulations are complex and extensive. Privacy frameworks derived from the General Data Protection Regulation (GDPR) provide a solid foundation for building comprehensive compliance frameworks. These frameworks will be updated to accommodate new compliance requirements. 4. Shifting attitudes toward compliance We saw numerous headlines about data-related fines cropping up in 2024. Regulatory bodies, such as the Data Protection Commission, have intensified their efforts to manage complaints and breaches, putting more pressure on organisations. As consumer awareness grows, driven by global discussions on data privacy, we can expect to see more attention to data protection compliance. 5. International transfers under scrutiny International discussions will lead to greater scrutiny of data transfers. Recent findings by the Court of Justice of the European Union could significantly impact international data transfers, prompting organisations to reassess their practices. 6. Consumer awareness of data subject rights In Ireland, damages have already been awarded for GDPR non-compliance. While this hasn't yet led to a surge in claims, increased awareness will empower data subjects to hold controllers accountable. Organisations may shift their focus from regulators to data subjects. 7. Increase in cookie consent enforcement Cookies, often invasive and disruptive, are under scrutiny. The Data Protection Commission’s review of cookie compliance five years ago highlighted widespread non-compliance. Combined with the European Data Protection Board’s (EDPB) Cookie Banner Task Force and increased action by groups such as the European Centre for Digital Rights, we can expect enforcement actions to ramp up as organisations have now had time to implement recommendations.  8. Proactive approach to processor compliance As privacy programmes mature, organisations will focus on the entire data lifecycle, including third-party processors. The EDPB's opinion on data processors and sub-processors highlights the importance of controllers to ensure compliance throughout the data value chain. This will likely lead to more queries and demands from controllers to processors. 9. Board assurance on data protection With GDPR in effect for seven years, boards are increasingly concerned about data protection risks that extend beyond compliance, driving demand for assurance through audits and certifications, which are rapidly maturing.  10. Greater focus on transparency To empower data subjects, organisations must provide clear and practical transparency notices. Moving away from legalistic, lengthy and obscure notices to more informative ones will enhance transparency and build trust with data subjects. David O’Sullivan is Director of Privacy, Digital Trust and Artificial Intelligence Governance at Forvis Mazars

BlackRock’s 2025 Ireland Read on Retirement survey reveals Irish workers’ retirement anxieties. With auto-enrolment imminent, increased pension awareness is crucial, writes Tim Hodgson BlackRock’s 2025 Ireland Read on Retirement survey offers a revealing snapshot of the retirement landscape for Irish workers. The research exposes significant gaps between the recognized importance of pensions and the actual confidence workers have in achieving a comfortable retirement. Despite 81 percent of respondents acknowledging that pensions are the most effective means of securing a reasonable standard of living, just 41 percent feel they are on track to achieve this goal. The disconnect highlights the urgent need for enhanced financial planning and greater awareness of retirement savings. The survey identified a palpable sense of uncertainty among pre-retirees, aged 60–69, with more than a third uncertain whether their current trajectory will be sufficient to secure a comfortable retirement. This reality reflects broader anxieties within the workforce. It is evident that, while pensions are universally accepted as crucial, tangible readiness varies dramatically among workers, particularly between those with and without Defined Contribution (DC) workplace pensions. Workers lacking a DC pension express significantly less confidence in their retirement preparedness—just 26 percent of those without one feel on track, compared to 59 percent of their counterparts who enjoy the benefits of such schemes. Jumpstarting retirement savings As Ireland prepares for the introduction of the Auto-Enrolment Retirement Savings Scheme, called My Future Fund, the survey’s findings assume even greater significance. Scheduled to roll out in September 2025, this initiative aims to integrate as many as 800,000 Irish workers into an occupational pension scheme, jumpstarting retirement savings for many who have been without work or a private pension. The upcoming scheme is viewed as a watershed moment, a once-in-a-generation opportunity to redefine how retirement savings are approached. More than two-thirds of survey participants indicated a willingness to opt into the scheme during its inaugural year, reflecting optimism about the potential of auto-enrolment to reverse current trends. However, the survey also revealed that only half of workers believe that an employee contribution rate of 4.5 percent is affordable, highlighting significant challenges that remain in the broader context of financial readiness. Generational divide Generational differences further complicate the picture. The survey found that saving for retirement ranks among the top three financial priorities for Pre-Retirees and Gen Xers. In contrast, Millennials treat it as the least pressing concern, placing it last among six financial priorities. This divergence suggests that while older generations are grappling with the immediate need to shore up retirement funds, younger workers may be postponing or deprioritising savings amid other financial demands. Additionally, 43 percent of overall respondents admitted that they should be saving more, and 32 percent felt they had started too late. A similar proportion expressed concern that state pension provisions might fall short once they retire. The research highlights that nearly nine in ten pre-retirees and Gen Xers lack a clear strategy to manage their pension pots upon retirement. A striking majority believe that pension schemes should prioritise guidance to help savers manage the transition from accumulation to decumulation. In essence, while saving for retirement remains a top priority for many, there is an urgent need for enhanced financial education and personalised solutions designed to ease the transition from saving during working years to drawing down those funds in later life. Retirement unease Overall, the insights provided by the Ireland Read on Retirement survey reflect a broader international trend of retirement unease. With initiatives such as auto-enrolment on the horizon, it is imperative that policymakers, employers, and financial advisors work together to bridge the gaps in awareness and affordability. Only then can the promise of a secure and comfortable retirement become a reality for all Irish workers. Exploring these themes further reveals the critical importance of informed financial planning, and it invites renewed discussion on how best to support diverse generations in their unique retirement journeys. Tim Hodgson is Head of UK and Ireland Defined Contribution Platforms and Retirement Solutions at BlackRock

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.