• Current students
      • Student centre
        Enrol on a course/exam
        My enrolments
        Exam results
        Mock exams
      • Course information
        Students FAQs
        Student induction
        Course enrolment information
        Key dates
        Book distribution
        Timetables
        FAE elective information
        CPA Ireland student
      • Exams
        CAP1 exam
        CAP2 exam
        FAE exam
        Access support/reasonable accommodation
        E-Assessment information
        Exam and appeals regulations/exam rules
        Timetables for exams & interim assessments
        Sample papers
        Practice papers
        Extenuating circumstances
        PEC/FAEC reports
        Information and appeals scheme
        Certified statements of results
        JIEB: NI Insolvency Qualification
      • CA Diary resources
        Mentors: Getting started on the CA Diary
        CA Diary for Flexible Route FAQs
      • Admission to membership
        Joining as a reciprocal member
        Admission to Membership Ceremonies
        Admissions FAQs
      • Support & services
        Recruitment to and transferring of training contracts
        CASSI
        Student supports and wellbeing
        Audit qualification
        Diversity and Inclusion Committee
    • Students

      View all the services available for students of the Institute

      Read More
  • Becoming a student
      • About Chartered Accountancy
        The Chartered difference
        Student benefits
        Study in Northern Ireland
        Events
        Hear from past students
        Become a Chartered Accountant podcast series
      • Entry routes
        College
        Working
        Accounting Technicians
        School leavers
        Member of another body
        CPA student
        International student
        Flexible Route
        Training Contract
      • Course description
        CAP1
        CAP2
        FAE
        Our education offering
      • Apply
        How to apply
        Exemptions guide
        Fees & payment options
        External students
      • Training vacancies
        Training vacancies search
        Training firms list
        Large training firms
        Milkround
        Recruitment to and transferring of training contract
      • Support & services
        Becoming a student FAQs
        School Bootcamp
        Register for a school visit
        Third Level Hub
        Who to contact for employers
    • Becoming a
      student

      Study with us

      Read More
  • Members
      • Members Hub
        My account
        Member subscriptions
        Newly admitted members
        Annual returns
        Application forms
        CPD/events
        Member services A-Z
        District societies
        Professional Standards
        ACA Professionals
        Careers development
        Recruitment service
        Diversity and Inclusion Committee
      • Members in practice
        Going into practice
        Managing your practice FAQs
        Practice compliance FAQs
        Toolkits and resources
        Audit FAQs
        Practice Consulting services
        Practice News/Practice Matters
        Practice Link
      • In business
        Networking and special interest groups
        Articles
      • Overseas members
        Home
        Key supports
        Tax for returning Irish members
        Networks and people
      • Public sector
        Public sector presentations
      • Member benefits
        Member benefits
      • Support & services
        Letters of good standing form
        Member FAQs
        AML confidential disclosure form
        Institute Technical content
        TaxSource Total
        The Educational Requirements for the Audit Qualification
        Pocket diaries
        Thrive Hub
    • Members

      View member services

      Read More
  • Employers
      • Training organisations
        Authorise to train
        Training in business
        Manage my students
        Incentive Scheme
        Recruitment to and transferring of training contracts
        Securing and retaining the best talent
        Tips on writing a job specification
      • Training
        In-house training
        Training tickets
      • Recruitment services
        Hire a qualified Chartered Accountant
        Hire a trainee student
      • Non executive directors recruitment service
      • Support & services
        Hire members: log a job vacancy
        Firm/employers FAQs
        Training ticket FAQs
        Authorisations
        Hire a room
        Who to contact for employers
    • Employers

      Services to support your business

      Read More
☰
  • Find a firm
  • Jobs
  • Login
☰
  • Home
  • Knowledge centre
  • Professional development
  • About us
  • Shop
  • News
Search
View Cart 0 Item

Corporate Social Responsibility

☰
  • News
  • Home/
  • Our impact/
  • News/
  • News item
Tax UK
(?)

Have your say - HMRC consultation on employee ownership trusts and employee benefit trusts

We’d like to hear your views on HMRC’s consultation on the taxation of employee ownership trusts and employee benefit trusts. The consultation closes on 25 September 2023 and examines potential proposals to reform the tax treatment of each of these types of trust. Let us know your views before Monday 18 September 2023.  The aim of the consultation is to ensure that the tax regimes for these trusts remain focused on the targeted objectives of rewarding employees and encouraging employee ownership, whilst preventing tax advantages being obtained through use of these trusts outside of these intended purposes.   There’s also still time to let us know your views on the on the consultation examining potential new tax incentives for occupational health. We’d like to hear from you on this consultation by Friday 29 September 2023. 

Sep 11, 2023
READ MORE
Tax
(?)

This week’s EU exit corner, 11 September 2023

In this week’s EU exit corner, we bring you the latest guidance updates and publications relevant to EU exit. Further guidance was published last week in relation to the Windsor Framework and the latest Trader Support Service bulletin is also available. And finally, we bring you more on the announcement last week that the UK has agreed a deal to associate to Horizon Europe.  Windsor Framework updated guidance  Last week HMRC published the following updated guidance documents (which includes guidance on moving parcels to and from Northern Ireland):-  The Windsor Framework - further detail and publications; Sending parcels to and from Northern Ireland;  Moving parcels from Great Britain to Northern Ireland under the Windsor Framework from 30 September 2024; and  The Customs (Northern Ireland) (EU Exit) (Amendment) Regulations 2023.  Horizon Europe  Last week the UK agreed a deal to associate to Horizon Europe, the EU's key funding programme for research and innovation. From 7 September 2023, UK researchers can bid into Horizon, certain that all successful UK applicants will be covered through the UK’s association (or through the guarantee) for the remainder of the programme. All calls in Work Programme 2024 will be covered by association and the UK guarantee scheme will be extended to cover all calls under Work Programme 2023.  For more information, see:- UK joins Horizon Europe under a new bespoke deal; and  Joint Statement by the European Commission and the UK Government on the UK’s association to Horizon Europe and Copernicus.  Miscellaneous updated guidance and publications   The following guidance, and publications relevant to EU exit are available:-  Customs declaration completion requirements for Great Britain;  Customs, VAT and excise UK transition legislation from 1 January 2021;  Reference Documents for The Customs Tariff (Preferential Trade Arrangements) (EU Exit) Regulations 2020;  Reference documents for The Customs (Reliefs from a Liability to Import Duty and Miscellaneous Amendments) (EU Exit) Regulations 2020;  Reference Documents for The Customs (Tariff Quotas) (EU Exit) Regulations 2020;  Reference document for authorised use: eligible goods and authorised uses;  Check simplified procedure value rates for fresh fruit and vegetables;  Apply for an Advance Origin Ruling;   Classifying edible fruit, vegetables and nuts for import and export;  Valuing imported fruit and vegetables using simplified procedure values with Method 4;  Check if a business holds Authorised Economic Operator status;  Notices made under the Customs (Import Duty) (EU Exit) Regulations 2018; and  Maritime ports and wharves location codes for Data Element 5/23 of the Customs Declaration Service. 

Sep 11, 2023
READ MORE
News
(?)

Is working from home changing the way we eat?

Remote and hybrid work is changing employee eating habits, productivity and work-life balance. Deirdre O’Neill explains how employers can foster healthier and more productive teams Employees who work from home are more likely to eat indulgent foods, snack between meals and work longer hours than their workplace-based colleagues, new research from Compass Group indicates. More than half of workers globally said they struggle to maintain a healthy diet while at work, with employees who work from home finding it hardest to resist temptation. Figures from Compass Group show that 53 percent of home-based and hybrid workers in Ireland admit to regularly eating indulgent foods during their working day. They were also found to snack on average 1.9 times a day, almost 20 percent more than workplace-based employees. Healthy eating expectations and realities The survey found that most workers recognise the productivity and well-being benefits of a healthy diet during their working week. Sixty-seven percent of respondents said that what they eat and drink at work directly impacts their productivity, and, of the Irish respondents, 77 percent said the food and drink they consume has a direct impact on how they feel. Hybrid workers are making the effort to maintain their health while in the office. Seventy-five percent in Ireland said they make a concerted effort to eat healthier foods when they are in the workplace. With snacks readily available in the kitchen cupboard and the hassle of planning and preparing balanced meals, employees working from home find it hardest to maintain healthy eating habits while working. Age-related eating habits Healthy eating has a generational component, as well. Younger workers in Ireland are most interested in healthy eating and its impact on productivity. Millennials are likelier to choose a healthy snack during their breaks (48 percent versus 44 percent of Baby Boomers), and Gen Z snacks more than any other demographic, averaging 2.3 snacks per working day, sometimes replacing a main meal. Despite their snacking, however, 87 percent of Gen Zers agree that what they eat and drink at work directly impacts how well they work, compared to just 56 percent of Baby Boomers. Work-life balance The survey revealed that home-based workers are nearly three times more likely than workplace-based colleagues to exercise during the working day. However, 66 percent of hybrid workers said they work longer hours when working from home, detracting from their work-life balance. The research also highlighted that hybrid workers miss the opportunity to socialise with colleagues during their working day, with 60 percent saying they would like to eat lunch with colleagues more often. Employers can enhance the health of their people by offering wellness programmes, encouraging regular exercise and providing nutritious food options while hybrid employees are in the office, and creating a supportive work environment that values work-life balance, ultimately fostering happier and more productive teams. A healthy bottom line In a world where remote and hybrid work has become the norm, maintaining healthy eating habits and work-life balance presents unique challenges. Employers are pivotal in promoting employee wellness through tailored programmes, nutritious offerings and a balanced work environment, ensuring a healthier and more productive workforce. Deirdre O’Neill is the Managing Director at Compass Ireland

Sep 08, 2023
READ MORE
News
(?)

Four cybersecurity vulnerabilities to be vigilant against in H2

Navigating the evolving cyber threat landscape demands vigilance. Aaron Hambleton explores four critical vulnerabilities shaping the second half of 2023 In the ever-evolving landscape of business technology, the second half of the year presents a host of challenges that demand the unwavering attention of organisations and cybersecurity experts. As organisations navigate this dynamic environment, it is imperative to be acutely aware of the vulnerabilities that loom large on the horizon, poised to test the resilience of businesses and their security measures. As we delve into the nuances of these vulnerabilities, it becomes evident that vigilance and proactive measures are the keys to safeguarding organisations. Here are four vulnerabilities organisations and businesses should be aware of going into the second half of 2023. 1. AI-powered social engineering attacks Artificial intelligence (AI) has entered almost all spheres of the business world. While AI brings numerous benefits and advancements, it also introduces new cybersecurity risks, such as social engineering attacks. These attacks use manipulative tactics to deceive the victims into revealing sensitive information or trespassing organisations’ security infrastructure. To execute these attacks, cybercriminals rely on AI-based natural language processing (NLP) algorithms to generate more realistic and human-like phishing emails, chatbot interactions or voice calls. According to Forbes, “AI technology is advancing so rapidly that hackers are very possibly developing their own custom AI applications specifically designed to take social engineering to the next level.” Detecting these malicious campaigns is getting harder for the average employee, which is why significant training is required to know what to look for and how to prevent escalation. 2. Cloud-based breaches Cloud computing has become the norm in today’s digital landscape, offering scalability, flexibility and cost-efficiency to businesses. However, the widespread adoption of cloud services exposes organisations to new cybersecurity threats, making them a major concern in 2023. Cybercriminals target cloud environments to exploit misconfigurations, weak access controls or insecure application programming interfaces (APIs). A recent example of the consequences of cloud misconfigurations is the Toyota data leak, in which the personal information of over two million customers was exposed after an access key was leaked on GitHub for almost five years. “Upon discovering the GitHub [repository], Toyota immediately made it private. Two days later, the company changed the access key to the data server. The Japanese giant commissioned an investigation into the blunder and was unable to confirm or deny whether miscreants had spotted and used the key to pilfer data from the server,” reports The Register. 3. Enhanced phishing attacks Phishing attacks involve cybercriminals posing as trustworthy entities with the intention of deceiving individuals into divulging sensitive information or performing malicious actions. With over 500 million phishing attacks reported in the US in 2022, this number is expected to rise further this year. Threat actors are continuously refining their techniques to make phishing emails and messages appear more genuine and convincing, which takes a trained eye to spot. 4. Zero-day vulnerabilities in supply chain attacks With the increasing complexity of supply chains and the interconnectivity of various systems, zero-day vulnerabilities are expected to be a significant cybersecurity threat in the second half of 2023. A zero-day attack is a strategic exploitation that involves the use of previously unknown vulnerabilities in the supply chain and has no available patches or fixes. These vulnerabilities in the supply chain can have severe consequences, allowing attackers to compromise the integrity and security of products and services. They can lead to data breaches, unauthorised access, and the potential for sabotage or manipulation of systems. Aaron Hambleton is Director for Middle East & Africa at SecurityHQ You can read their full white paper, Global Threat Forecast: H2 2023 Predictions, at securityhq.com

Sep 08, 2023
READ MORE
News
(?)

Five ways to encourage creativity in a hybrid office

From flexible workspaces to scheduling brainstorming sessions, Mark Fallon outlines five strategies to ignite innovation and inspire your hybrid team It can be challenging to spark creativity when working from home and even more difficult to encourage creativity among your team members. Here are five steps leaders can take to encourage remote creativity that supports organisational success.   1. Facilitate workspace flexibility A change in scenery is often a great way to recharge the creative batteries. This might include encouraging your team to move their office setup to a new room that has a great view or colourful paintings, or even a complete shift in location to a relative’s house or outside to a park bench. Whatever the choice, the change will be sure to enhance their creative process.   2. Find your creative hours Depending on their role or personal circumstances, members of your team may find the best time to be creative is first thing in the morning or last thing at night before going to sleep. It is important to adjust work hours accordingly to allow for this time, ensuring that the appropriate resources are available when team members are at their peak creativity (even if it is just a pen and notebook on the bedside locker!).   3. Schedule brainstorming sessions Ideas often develop and build in-depth as you discuss them with people either face-to-face or over a video call. Carve out time in your working week to run your thoughts by team members together in one place – either online or in the office together. Encourage healthy discussion and ask for their input and feedback – they may have a unique viewpoint you have not yet considered.   4. Use your commute time When you and your team commute to and from the office, you will often find yourself thinking through a project or solution to a problem. You might jot notes on your phone about a new idea or send an email to yourself to remind you of an important action or next step. If working from home and stuck in a creativity rut, ask your team to recreate this headspace by using the commute time to think by going for a walk or dedicating an hour of their day to deep thinking and creativity.   5. Take time off If team members have the time to take a day (or more) of annual leave, encourage it! Our best ideas often come to us when we least expect them. Taking some personal time to relax will let the mind freely wander and help the team feel rejuvenated and re-energised when returning to work – hopefully with a few new ideas. Whether you are looking to get into that creative mindset or inspire your team members to think outside the box, keep these tips in mind and implement them in everyone’s working day. Most importantly, lead by example – when you focus on creativity and innovation, the people around you will feel motivated to do the same. Mark Fallon is Director and Co-Founder at Coopman Search and Selection

Sep 08, 2023
READ MORE

Technical Roundup update....

Technical Roundup is now published on the first and third Friday of every month – the next edition will be issued on 15 September 2023. 

Sep 08, 2023
READ MORE

The Return of 'The Expert Series'

The Leinster Society welcomes the return of ‘The Expert Series’: a series of monthly lunchtime webinars where experts in various fields will join us to give tips and advice that will help you to tackle your life admin. Each session will be followed by a Q&A where you will get an opportunity to ask for advice directly from the expert.  Click on the topic to register for each webinar you wish to attend. Each webinar takes place from 12.30pm - 1.30pm. Date Topic Speaker Wednesday 13 September 2023 Pension Auto-Enrolment- Recording available on request Davin Spollen Tuesday 10 October 2023 Easing Burnout and Exhaustion- Recording available on request Belinda O’Neill Thursday 16 November 2023 Alchemy of Numbers – Exploring Generative AI- This webinar will not be recorded Ciaran Fennessy Wednesday 17 January 2024 Financial Wellness - Recording available on request Sean Buggy  Wednesday 14 February 2024  Investments - Recording available on request  Rory Gillen  Wednesday 13 March 2024 Starting your own Practice - Recording available on request  Eamonn Leahy Wednesday 24 April 2024   Personal Tax with 'Tax Nerd' - Recording available on request Mairead O'Driscoll    

Sep 07, 2023
READ MORE
Sustainability
(?)

Sustainability/ESG bulletin, Friday 8 September 2023

In this week’s Sustainability/ESG bulletin, read how the Irish Government earned a C+ on progress against its climate and environmental commitments under the Programme for Government. Also covered is the increased calls for Government support for climate literacy for businesses, the publication of legislation addressing energy-sector windfall profits, the Chartered Accountants Worldwide Delegation planned for One Young World Summit in Belfast, and the usual roundup of technical updates, articles, resources and events. C+ for Irish Government on climate progress Ireland has been given an overall C+ grade by leading Irish academics for making only ‘moderate progress’ on the climate and environmental commitments in its Programme for Government. The grade was given as part of a project commissioned by the Friends of the Earth Ireland, which marked the Government out of 10 in nine key subject areas. For the first time, key commitments in the ‘Climate’, ‘Nature & Biodiversity’ and ‘Drinking & Waste Water’ categories were identified as in danger of not being achieved during the Government’s term. Calls for Government supports for climate literacy among businesses The report from March 2023’s National Youth Assembly on Climate has recommended, among other things, that the Government supports businesses that make efforts to repair and reuse products, introduces a climate education programme for all ages, and develops a cohesive media and communications strategy around climate action. Recommendations from the report, which published this week, will be considered for inclusion in Ireland’s Climate Action Plan 2024.   The Climate Conversation 2022, also published this week, finds that the public believe that businesses and enterprises have an important role to play in delivering climate action. It also finds that the public, while supporting stronger regulations on emissions and stricter reporting requirements, largely feel that companies – particularly SMEs – require increased support from the Government to improve their climate literacy and reduce emissions. Legislation addressing energy-sector windfall profits publishes The Minister for the Environment, Climate and Communications, Eamon Ryan, T.D., has announced the publication of the Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill. This Bill provides for a cap on the market revenues generated by non-gas generators in the wholesale electricity market between 1 December 2022 to 30 June 2023 inclusive, as set out in Council Regulation (EU) 2022/1854. The estimated proceeds, which are in the range €80 - €150 million, will be retained and used in the electricity sector to provide financial supports to households and businesses affected by high energy prices. The Bill contains the timelines under which companies are required to make formal declarations and payments to the Commission for Regulation of Utilities (CRU): 30 November (submission of formal declaration) and 31 December 2023 (payment). ­Empower Change: Meet the Chartered Accountants Worldwide Delegation heading to Belfast for this year’s One Young World Summit Chartered Accountants Worldwide (CAW) is sending its annual global delegation to the One Young World summit, which takes place this year from 2 – 5 October in Belfast. Every year, member institutes of CAW run competitions to select their #CharteredStar to represent them – and CAW – at the summit.  Ireland’s Chartered Star, Peter Gillen will join young leaders of tomorrow to learn how to drive progress within their communities and workplaces, listen to inspirational speakers and broaden their international networks, connecting with global visionaries. Technical updates On 2 August, IAASB issued the proposed, landmark International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements, for public consultation. This, when approved, will be the most comprehensive sustainability assurance standard available to all assurance practitioners across the globe, applying to sustainability information reported about any appropriate sustainability matter and prepared under any suitable framework. It will also apply for both limited and reasonable assurance engagements. The Financial Reporting Council (FRC) Lab has published a new report: ESG Data Distribution and Consumption, examining how investors obtain and use environmental, social and governance. It has also published a thematic review, assessing the quality and maturity of climate-related metrics and targets disclosures. The International Organization of Securities Commissions (IOSCO) has announced its endorsement of the International Sustainability Standards Board’s (ISSB) Standards. Did you know? Ireland’s second SDG (Sustainable Development Goals) Week is taking place this year from 23 September to 1 October. SDG Week forms part of the wider European Sustainable Development Week (ESDW) which this year, will run from 18 September – 8 October. Resources Chartered Accountants Ireland has issued a Q&A on the CSRD and the ESRSs with information about the Directive and the Standards, and when and how members may be impacted. Jobs Group Sustainability Reporting Manager - Glenveagh Properties plc, Maynooth, County Kildare. Articles ESG for SMEs: government launches climate advice hub (ICAEW) What did you miss in ESG this summer? (ESG Clarity) How to embrace the climate conscious worker (Irish Times) Summer 2023 Was the Hottest on Record Globally, New Figures Show (Bloomberg Green Certificate in Sustainability Strategy, Risk and Reporting Classes start Wednesday 5 October Following four sellout sittings, our Certificate in Sustainability Strategy, Risk and Reporting for accountants is back again in October 2023. Over 8 weeks, you'll cover key reporting frameworks and metrics, and learn to address the ESG opportunities and challenges that organisations already face. Upcoming events   Dublin Chamber – Sustainability Academy Workshops Dublin Chamber has announced it will offer Sustainability Academy workshops in Autumn. Beginning with a workshop on Sustainability/ESG 101 in September, the 3-hour Zoom workshops includes a free one-hour, post-workshop one-on-one advisory consultation per company with an expert advisor. Find out more here. Online, September 2023 InterTrade Ireland: The Shared Island Fund – Bioeconomy Demonstration Initiatives Funding opportunity Virtual, 14 September, 10:00 - 11:00. Environment Ireland’s: Environment Conference In person: 14–15 September,  Croke Park, Dublin Business Post LIVE/iQuest: Energy Transition Summit In person: 19 September, Croke Park, Dublin ESDN: European Sustainable Development Week (ESDW) 2023 18 September – 08 October. 113 initiatives in 10 countries. Chartered Accountants Ireland Virtual CPD Update – Career Progression and Transition (ROI/NI) Morning plenary session followed afternoon sessions, run and delivered by the District Societies, including the Western Society session on Sustainability and ESG Reporting (Catherine Duggan, Orla Carolan, Peter Gillen, Susan Rossney). Irish Museum of Modern Art: EARTH RISING Four-day festival of free events and experiences aimed at addressing the climate crisis and aiming to provoke, empower and inspire collective action in audiences to become agents of change for a sustainable and hopeful future.~ In person: 21–24 September, IMMA site, Royal Hospital Kilmainham, Dublin 8, D08 FW31. DETE: Building Better Businesses North-East Event, Dundalk Institute of Technology The latest in the series of Building Better Business events organised by DETE across the country to help businesses focus on the opportunities and challenges presented by the green economy and digital transformation. This event is open to businesses based in the North East. In person: 22 September, 9.00 - 1.00 -  Multi-Purpose Centre (MPC), Faulkner Building, Dundalk Institute of Technology. EPA: Circular Economy Conference This hybrid event will be an opportunity to learn about recent developments in the circular economy and the opportunities and challenges in implementing a circular economy in Ireland. There will be opportunities to network and participate in polling and Q&A sessions. In person: 27 September, The Aviva Stadium, Dublin. Green Team Network: ESG Networking Breakfast An intensive session tailored for Ireland's industry leaders seeking to understand and act upon the financial implications of climate change, this event aims to bridge the gap between climate financial risk and sustainability education. In person: 27 Sept, 08:00 – 9:45, Dean Hotel, 33 Harcourt St, Saint Kevin's, Dublin 2, Ireland Women in Business (Northern Ireland) Women in Finance Women in Business is running a wide-ranging programme of female entrepreneurship events over the upcoming months. The events include sectoral networking, webinars, and training courses for essential skills. A specific session on women in finance will focus on work in finance departments, small scale accountancy or work for yourself, both members and non-members are welcome to join this online event. Virtual: 25 October, 10.00-11.30am Sustainable Finance Skillnet is offering funded training opportunities until October 2023 to Irish employees in the financial services sector at 30 percent of course fees (with 70 percent funding available for members of the International Sustainable Finance Centre of Excellence). Virtual: September-October 2023 Accountancy Europe: Preparing for high-quality sustainability assurance engagements In person: 3 October, 14.00-17.00, ACE events - Av. d'Auderghem 22, 1040 Brussels Climate Finance Week Ireland 2023 In person and virtual: Monday, 20 November – Friday, 24 November Network for Chartered Accountants working on ESG projects Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities? Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. 3rd or 4th Wednesday of every month Next: 27 September 2023  14.00-15.00/30 Teams If you would like to attend please email sustainability@charteredaccountants.ie   You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.    

Sep 07, 2023
READ MORE

Changes to Statements of Insolvency Practice 16 NI and Statement of Insolvency Practice 13 NI

The Administration (Restrictions on Disposal etc. to Connected Persons) Regulations (Northern Ireland) 2021 which came into effect on 25 June 2021 imposes additional obligations on connected person purchasers in administrations. These legislative changes mean that changes need to be made to Statement of Insolvency Practice 16 - Northern Ireland (SIP 16) – pre packaged sales in administrations, and additionally the Statement of Insolvency Practice 13 - Northern Ireland (SIP 13) - disposal of assets to connected parties in an insolvency process, also need to be changed to align the content of the standards with the law. No changes have been made to the SIPs other than those required by the change in the law. The Joint Insolvency Committee has amended SIP 16 to remove references to the Pre Pack Pool and to replace them with reference to the statutory obligation placed on a connected person purchaser to obtain the opinion of an evaluator. The regulations apply to transactions that take place within 8 weeks of the appointment of an administrator. This extends the scope of the regulations beyond pre pack administrations to all administrations within that time frame. That means equivalent changes had to be made to SIP 13 as it applies to any connected party transaction in an insolvency process. The new SIPs will apply effective from 25 June 2021.

Sep 07, 2023
READ MORE

Feeling a bit blah? You could be languishing

Have you ever had someone ask how you are doing and you are at a loss of how to answer or at a loss to how you are actually feeling. That blah, indifference to anything and everything type of feeling – you could be experiencing languishing. This not-so-new concept has become quite commonplace in the last few years and is a concept we are hearing more about. Here Thrive explains what languishing is and what we can do about it. What is languishing? There is a lot more to mental health than just being good or bad, it is a spectrum. In an attempt to create a deeper understanding of mental health, it can be categorised into four levels: Flourishing – peak mental health Good to moderate mental health Languishing – poor mental health Depression – experiencing a mental health condition Languishing is wrapped in the middle of the mental health continuum; it is the absence of mental wellness, a state of not being at your best but not at your worst either. First introduced by psychologist Corey Keyes in 2002, languishing, as Keyes describes it, is an emptiness and stagnation, constituting a life of quiet despair. It is a feeling of numbness, where you experience few strong emotions. It is a lack of engagement and apathy, a place where you simply remain in a state of neutrality. What Languishing looks like? Languishing is that ambivalent feeling as if life is something that happens, rather than something that you actively cultivate, participate in, and enjoy. Here are some of the feelings or experiences that can come with languishing: Feeling disconnected or dissociated Feeling deeply lonely or isolated A lack of motivation or procrastinating Struggling to focus Feeling like you’re not functioning to full capacity Inability to describe your feelings or experience any strong emotions A sense of emptiness or dullness Feeling as if you are just going through the motions, feel trapped or stuck Feel like life is missing something, there is nothing to look forward to Not thinking or particularly caring about the future Rarely have strong opinions In AXA’s 2023 global Mind Health study, it found a higher percentage of people (28%) were languishing compared to those who were flourishing (24%). The study also revealed woman experience languishing more than men at 30% compared to 25%. It also found Ireland had an above-average percentage of languishing at 29% compared to our global counterparts. Other research has shown a continued state of languishing can increase the risk of experiencing mental health conditions such as anxiety disorders and major depression down the line. What to do about it? In his work on flourishing, Dr. Martin Seligman concluded the best method to move from a state of languishing to flourishing is the PERMA model which stands for: Positive emotions This may sound like an obvious but difficult area to integrate into your daily life but by consciously experiencing positive emotions we can learn to improve our wellbeing. Positive emotions are a prime indicator of flourishing and have numerous benefits - improving our thinking, acting, and cognitive ability. Find ways to deliberately increase positive emotions in your life and if repeatedly exercised, these positive emotions will become noticed and automatic over time. Start small by practicing gratitude, writing down things you are grateful for, things you love, appreciate, and feel good about. Engagement Engagement refers to being fully immersed in a particular activity that consumes our attention in a positive way. This is often referred to as flow, it is living in and focusing entirely on the present moment and the task at hand. When we are in a state of flow we perform to our peak and experience less anxiety. Take a look at our recent article on how to find your flow state. Relationships Having positive relationships with understanding and respect yields a deep sense of connection and support. Investing time and energy into fostering close relationships enhances our resilience and wellbeing. Research has demonstrated that sharing good news, celebrating success, and responding enthusiastically to others increases intimacy, wellbeing and overall satisfaction. Meaning Meaning or purpose in life looks different for everyone but it is based on the things that bring your life value. Seligman discussed meaning as belonging or serving something greater than ourselves and helps us focus on what is important in life. If you are looking for meaning, try and engage in small activities at first that leave you feeling fulfilled afterwards – this could be anything from volunteering to a small random act of kindness. Accomplishments A sense of accomplishment is the result of working toward and reaching a goal you have set for yourself. Accomplishments can boost our morale by helping us feel productive, that we are moving forward, and can give us a huge sense of pride. Set small, challenging but realistic goals and check them off once completed – this can fuel our motivation, sense of achievement, and ultimately our happiness. If you feel as if you are in floundering in a state of languishing, the Thrive wellbeing team is professionally trained to offer wellbeing advice and support to help you on your journey to a thriving and flourishing life. You can contact the wellbeing team by email at: thrive@charteredaccountants.ie or by phone: (+353) 86 0243294.

Sep 06, 2023
READ MORE
Press release
(?)

Chartered Accountant salaries remain strong, with notable increase in packages for newly qualified professionals

Wednesday 6 September 2023 – Earning potential for Chartered Accountants working in Leinster remains strong, with an average salary package this year of €118,578. The results of a new survey published today shows a notable increase in the average salary package of newly qualified Chartered Accountants, rising 6.6% to €62,866 compared to last year. The survey of approximately 1,000 Chartered Accountants, launched today by Chartered Accountants Ireland Leinster Society in partnership with Barden, Ireland’s leading accounting and tax talent advisory and recruitment firm, provides the most up-to-date guide to Chartered Accountant salaries and employment prospects in the Leinster region.   Strong remuneration packages The research, conducted by Coyne, shows earning potential across the profession remains strong, with €118,578 the average salary package for Chartered Accountants working across all sectors. This figure includes base salary, car or car allowance, and bonus. The remuneration package of members who qualified in the past two years increased by 6.6% from €58,967 in 2022 to €62,866 in 2023. Almost 9 in 10 (89%) of respondents overall say their total remuneration has increased in the past three years, compared to 86% in 2022. Two in five (39%) said their salary had increased by more than 25% this year. And four in five claim their total remuneration is expected to increase within the next 12 months. As part of the remuneration package, over 60% expect to receive a bonus in 2023.   The vast majority (87%) of members have a pension, with employers contributing an average 9% of their salary. After basic salary, this pension contribution is the most valued part of their package for 50% of respondents.      High job satisfaction and flexibility  Job satisfaction was high across all the metrics amongst those surveyed, with 76% of members satisfied with their work environment (73% in 2022); 68% happy with the salary they receive (62% in 2022); and 64% happy with work/life balance (unchanged on 2022). Half of respondents have been promoted in the last three years, with promotion highest amongst those working in practice at 77%.  Flexibility has become embedded as a feature of working life, with 75% of respondents employing a hybrid working model, up 2% on 2022. Only 1 in 10 respondents express concern that time spent working remotely will impact on their career progression. 7 in 10 value location flexibility, and over half of all members value flexibility in the shape of their working day (compressed hours, core hours, flexitime).  Automation and productivity The survey also shows the accounting profession is benefiting from technological advances, with 70% believing automation will have a positive impact on their career and almost half believing AI and big data will free up capacity to focus on higher-value parts of the job.  Des Gibney, Chairperson of Chartered Accountants Ireland Leinster Society, said:   “This year’s survey points to continued strong earning prospects for Chartered Accountants in Leinster. I’m particularly pleased to note the increase at the newly qualified level. This increase will play a crucial part in ensuring our profession remains attractive to the next generation – and will help us retain our top young talent in a very competitive market.   “I am also really pleased to see automation being so strongly embraced by respondents. Almost half agree that it will allow us to move further up the value chain in terms of the work that we do. This is already happening, with the work of Chartered Accountants transformed in recent years. It is really important that we communicate the breadth of opportunity in our profession to the next generation.”   Elaine Brady, Managing Partner at Barden, said: “Despite the backdrop of almost constant uncertainty over the past 12 months, the demand for accounting talent seen in 2022 continued almost unabated. Standing out from the crowd and attracting this much sought after talent is a key challenge for companies throughout Ireland. Accurate data on reward can create competitive advantage for those who choose to use it, especially in times such as these. These insights can also help businesses and hiring managers to craft competitive reward structures to aid talent retention and to understand what is required when looking to attract talent externally.  “It is also extremely interesting to see that 10% of members are working fully remotely, while 75% of members have hybrid working arrangements. Companies that mandate five days in the office have been, and will continue to be, at a significant competitive disadvantage when trying to attract accounting talent. To mandate five days in the office is to effectively reduce the talent pool available to you by 85%.” ENDS    Note to editors  The survey was conducted by Coyne Research on behalf of Chartered Accountants Ireland Leinster Society, in partnership with Barden, between 19 July and 14 August 2023.   About Chartered Accountants Ireland Leinster Society   Chartered Accountants Ireland Leinster Society is a district society of Chartered Accountants Ireland, representing over 16,000 Chartered Accountants throughout Leinster.     Chartered Accountants Ireland is Ireland’s leading professional accountancy body, representing over 32,000 members around the world and educating 7,000 students. The Institute aims to create opportunities for members and students, and ethical, sustainable prosperity for society. An all-island body, Chartered Accountants Ireland was established by Royal Charter in 1888 and now has members in more than 90 countries.     It is a founding member of Chartered Accountants Worldwide, the international network of over one million chartered accountants. It also plays key roles in the Global Accounting Alliance, Accountancy Europe and the International Federation of Accountants.     Chartered Accountants Ireland members provide leadership in business, the public sector and professional practice, bringing experience, expertise and strict standards to their work for, and with, businesses in every sector. Chartered Accountants Ireland engages with governments, policy makers and regulators on key issues affecting the profession and the wider economy.   About Barden Barden is a partner led talent advisory and recruitment firm consumed with supporting companies that really know the value of their people. Barden’s expertise covers Accounting, & Tax, Business Support, Financial Services, Legal, Life Sciences, Supply Chain and Technology talent advisory and recruitment. Chartered Accountants specifically choose to join Barden in order to use their qualification in a different way.   Barden has proudly partnered with the Chartered Accountants Ireland Leinster Society, for the last seven years, to bring you the annual salary survey. Barden also works closely with Chartered Accountants Student Society of Ireland (CASSI) and Young Professionals to make sure their members get access to the right information, at the right time in order to make more informed decisions about their professional future.  

Sep 06, 2023
READ MORE

Providing the best Sage advice to your clients (Sponsored)

Accomplished Sage Partners, Envisage and Pimbrook, collaborate to outline essential factors to consider when advising clients on finance and ERP systems.  1. Alignment We often come across companies that implement finance and ERP systems, but those systems do not align with their business goals. Planning out the project objectives and company-specific requirements is critical to ensure that the selected software addresses key organisational challenges. We've seen lots of cases where companies buy a new system that's either too big, too small or simply isn't flexible enough for their growing and changing needs.  Getting it right the first time is crucial. To prevent this misalignment in the first place, seeking guidance from ERP solution experts can lead to significant advantages for both you and your clients, ensuring a successful outcome.  2. Industry knowledge Understanding the nuances of a particular industry is vital when it comes to finding the best solutions for your clients. The requirements of e-commerce businesses are quite different to those of convenience stores or service-based organisations. A one-size-fits-all approach just doesn’t work.   When making recommendations to your clients, there are two important factors to consider: Does the software application meet the industry-specific requirements of the client? Does the ERP provider have the industry knowledge and expertise to deliver a successful project? Every business is unique, so a credible partner should have the experience to recommend the right vertical solution to help overcome the financial and operational challenges for the client.   3. Trust Reputation is key. Recommending a solution to a client brings with it the responsibility of ensuring that everything goes smoothly. Your client is trusting you to recommend the best solution for their needs. From a project delivery perspective, choosing a partner that is easy to work with, has industry knowledge and experience and can deliver a range of local services to guide and support you and your clients is critical.   Envisage and Pimbrook are leading Sage Partners with a combined 40 years of experience. Working seamlessly in partnership, Pimbrook provides Sage 50 and payroll solutions to a range of small and medium-sized businesses. Envisage specialises in Sage 200 and Sage Intacct, servicing the needs of medium-sized organisations with either domestic operations or a global presence. Clients include Tour America, Jump Juice Bars and Munster Rugby.   We tailor our services on a case-by-case basis and can offer advice and training directly to accountants and consultants to help you deliver more value-added services to your clients.  Webinar Join our webinar on Wednesday, 27 September at 10:00am where our Sage 50, Sage 200 and Sage Intacct experts will share their experiences, best practices and pitfalls when it comes to advising clients on the right Sage solution for them.   Whether you already have clients using Sage products or are simply curious to learn more, we’d be delighted to welcome you to our webinar.  Click to register This article is sponsored by Envisage and Pimbrook

Sep 06, 2023
READ MORE
...201202203204205206207208209210...

Back to News
Back to CSR page

Was this article helpful?

yes no

The latest news to your inbox

Please enter a valid email address You have entered an invalid email address.

Useful links

  • Current students
  • Becoming a student
  • Knowledge centre
  • Shop
  • District societies

Get in touch

Dublin HQ

Chartered Accountants
House, 47-49 Pearse St,
Dublin 2, D02 YN40, Ireland

TEL: +353 1 637 7200
Belfast HQ

The Linenhall
32-38 Linenhall Street, Belfast,
Antrim, BT2 8BG, United Kingdom

TEL: +44 28 9043 5840

Connect with us

Something wrong?

Is the website not looking right/working right for you?
Browser support
CAW Footer Logo-min
GAA Footer Logo-min
CCAB-I Footer Logo-min
ABN_Logo-min

© Copyright Chartered Accountants Ireland 2020. All Rights Reserved.

☰
  • Terms & conditions
  • Privacy statement
  • Event privacy notice
  • Sitemap
LOADING...

Please wait while the page loads.