In professional services, communication drives growth. Mary Cloonan explores how firms can harness consistent client contact to drive competitive advantage In professional services, your relationships are your business. Yet, in many firms, client communication tends to happen only at quiet times. This mindset no longer cuts it. Clients today want more. They expect ongoing visibility, meaningful contact and to feel genuinely understood. In a market where competition is never more than a click away, staying in touch isn’t just part of good service; it is a core leadership responsibility. If you want clients to stay, thrive and refer your services to others, they need to feel a sense of connection. This doesn’t happen by chance; it happens when communication is baked into your firm's DNA, supported by a clear structure and led from the top. Here are the practices forward-thinking firms are implementing to spark better conversations, strengthen relationships and drive long-term growth. Make client contact a firm-wide habit High-performing firms treat outreach as a priority—a weekly commitment, rather than an afterthought. One simple habit: ask every partner or senior team member to check in with three clients each week. This might involve making a quick call or sending a short note to share valuable information or updates. The format doesn’t matter, but the consistency does. This isn’t something to hand off to marketing. It needs to be owned by leadership. If it’s not scheduled, it won’t happen. Lack of visibility is a client problem Firms often possess rich technical and sector-specific knowledge that is hidden, even from long-standing clients. You might be delivering excellent audit or tax work. However, unless you are actively support your clients in other ways, they won’t know about your advisory strengths, international capabilities or expertise in succession planning. Regular communication creates space to connect the dots and demonstrate the full value your firm can offer. Slow the pace and listen properly When delivery dominates the agenda, it can be tempting to stick to the task and move on. Clients often reveal their most valuable insights in informal moments when they mention a challenge, plan or passing concern. These are not throwaway comments—they are commercial cues. And they will be missed if your team is always in execution mode. Encourage people to slow down and make time for conversation. The next opportunity will often come from this. Ask, don’t assume Many firms think they know what their clients want, but assumption-based insight is risky. A structured feedback process can give you a much clearer view. This doesn’t need to be a major undertaking. A short, well-designed survey or a few open conversations can reveal what’s working, what isn’t and what’s top of your clients’ agenda for the months ahead. This clarity can bring quick wins, while also helping to identify risks and revealing new opportunities to add value. Help your team know what to say The challenge isn’t always about time. Sometimes, people hesitate because they are unsure of what to say. A shared resource can make all the difference here. Pull together a simple library of talking points, such as: Upcoming budget updates. Sector trends. Grant opportunities. Light prompts or questions—for example, “what’s coming up for you this quarter?” This approach will help your team approach conversations with confidence and relevance. Use digital channels, but follow up personally Newsletters, LinkedIn updates and firm-wide communications help with visibility, but they only go so far. The real impact occurs when someone follows up directly, prompting personal interaction. It could be a simple message to start you off: “We recently shared something on R&D tax credits, and I thought of you because of your investment in innovation.” This is where trust builds. Use digital content only to start the conversation, not to replace it. Measure communication like it matters This is where the whole thing can fall apart. Everyone agrees that client contact is important, but it can fade quickly into the background if it isn’t tracked or prioritised at leadership level. Client communication should be built into your key performance indicators, reviewed alongside billings and pipelines and discussed regularly with senior teams. If it’s a strategic priority, treat it like one. Checklist for building a communication culture If you’re serious about embedding client communication into the firm’s culture, start with these questions: Are your top 20 clients hearing from a senior contact at least once a quarter? If not, who will be reaching out this week? Is client contact actually in the calendar? Add it to weekly plans for partners and managers. Are you relying on instinct or gathering honest feedback? Start a simple programme to ask clients what they really think. Does your team know how to spark a conversation? Share a list of timely, relevant prompts to make it easier. Are clients aware of your full offering? If you have invested in specialist expertise, make sure it isn’t hidden. Is communication part of the leadership dashboard? Track it just as you would financials or new business. Who owns this? Appoint someone internally to champion and maintain the habit. When firms consider growth, the conversation often shifts to campaigns, new sectors or market expansion. However, the fastest route to progress usually begins with the clients you already have. Show up, be useful and keep in touch. Get the rhythm right and the rest will become easier. Mary Cloonan is the founder of Marketing Clever

  In this week’s Sustainability/ESG Bulletin read how Chartered Accountants Ireland has endorsed the Accounting Bodies Network revised principles to reflect a new era of professional responsibility. Also covered is the search for the next Chartered Star, ISIF’s €1bn four-year climate action investment programme, Bank of Ireland’s oversubscribed green bond, sustainability in the €30m Shared Island Enterprise Scheme, the Bank of England’s series of proposals regarding climate-related risks, news from Europe, the launch of the Global Capacity Building Coalition (GCBC) Accelerator programme, as well as the usual articles, jobs, podcast resources and upcoming events.     Chartered Accountants Ireland Sustainability is reshaping business – and the accounting profession As a member of the A4S Accounting Bodies Network (ABN), Chartered Accountants Ireland has endorsed revised principles to reflect a new era of professional responsibility.  Through this renewed commitment to core sustainability principles, we will continue building on our work to ensure our members and students are equipped to meet the demands of the evolving finance profession – through education, advocacy, innovation and redefined notions of value. This is not about adding sustainability to existing work – it’s about transforming the profession to meet the needs of a sustainable global economy.    ⭐The search for the next Chartered Star is now on! ⭐ The 2025 Chartered Star competition has opened to members and students. The Chartered Star celebrates the amazing work done by the Chartered community in support of the UN SDGs, whether that’s volunteering in your personal life, driving change in your workplace or through leveraging your ACA qualification. As well as the prestigious ‘ Chartered Star’ title and joining an incredible community, the winner will get the once in a lifetime chance to attend the One Young World Summit in Munich this November (3 – 6 Nov), representing Chartered Accountants Ireland and Chartered Accountants Worldwide.     Ireland news ISIF launches €1bn four-year climate action investment programme The Ireland Strategic Investment Fund (ISIF), part of the National Treasury Management Agency (NTMA), has launched a new €1bn four-year climate action investment programme, with three separate investment commitments totalling more than €160 million. Having exceeded its original €1 billion climate investment ambition two years ahead of schedule, this new programme was announced last month and will bring total climate commitments to €2 billion over the next four years. The three new investments announced today are in specialist funds that will focus on supporting various aspects of Ireland’s Climate Action Plan and achieving its Net Zero goals in Renewable power generation, energy storage, sustainable fuels and Hydrogen and carbon capture technology.   Strong investor demand sees Bank of Ireland's oversubscribed Green Bond sale raise €750m Bank of Ireland said there was strong demand from over 220 investors participating in its new green bond to finance more climate action projects in renewable energy and green buildings. Bank of Ireland's total green bond issuance to date is €5.6 billion, with this bond having issued with a seven-year maturity and a fixed coupon of 3.625 percent. Sustainability-related lending at Bank of Ireland grew by almost a third in 2025 to €14.7 billion; its end-2025 target is €15 billion.   Collaboration at the fore of €30m Shared Island Enterprise Scheme A €30m Shared Island Enterprise Scheme is marking a significant step forward in island-wide enterprise collaboration and growth, as three of the leading economic development agencies on the island of Ireland – InterTrade Ireland, Invest Northern Ireland and Enterprise Ireland – have partnered to focus on promoting women’s entrepreneurship, supporting networks and clusters, and sustainability and innovation investment. Supported through the Government of Ireland’s Shared Island Fund, the Shared Island Enterprise Scheme aligns with each Administration’s Programme for Government, placing a focus on strengthening beneficial cross-border cooperation to support sustainable enterprise growth across the island. By working together across borders, businesses and entrepreneurs can unlock new opportunities; drive innovation; and tackle shared challenges, including those related to sustainability, digitalisation, and job creation.   InterTradeIreland report highlights scale of economic opportunity in offshore wind for SMEs on the island of Ireland A new report commissioned by InterTrade Ireland has highlighted the scale of the economic opportunity in offshore wind for SMEs across the island of Ireland. The report from specialist renewables consultancy Everoze provides for the first time an all-island picture of firm-level capability, mapping over 160 companies across 12 supply chain sectors. The findings show strong potential to develop a globally competitive offshore wind supply chain, particularly if efforts are aligned across the island. It identifies complementary strengths in areas such as engineering, logistics, vessels and cables. While it highlights the economic value of collaboration, it also outlines challenges such as infrastructure capacity and skills shortages, which it recommends tackling through joined-up action on an all-island basis to ensure local firms can fully participate in this once-in-a-generation opportunity.   Two large scale data centres ‘model’ for Ireland future development An Taoiseach Micheál Martin has described two large-scale data centre facilities, the DUB20 and DUB30 facilities being developed by Echelon Data Centres in Arklow, Co Wicklow, as “the model for future data centre development in Ireland”.  DUB20 became the first large-scale data centre in Ireland to receive a grid connection from EirGrid for more than four years, a connection which will allow Echelon to begin work on a 220kV substation at the site that will allow access to the grid for up to 800MW of wind energy generated off the coast of Wicklow in the future. Echelon is also investing in solar, battery energy storage systems, and renewable fuels to replace fossil fuel consumed by the data centre.   How businesses are becoming more sustainable The Department of Enterprise, Trade and Employment have published a webpage Understand, assess and invest in sustainable business to help businesses understand sustainability, assess their business and invest in becoming sustainable, along with 3 case studies of businesses that have successfully implemented sustainability measures. Two featured supports are also profiled, ‘Green for Business and the ‘Energy Efficiency Grant’. For more information on all the supports available to business visit the National Enterprise Hub on neh.gov.ie. CSO figures show further rise in EV sales Findings from the Central Statistics Office have found that the number of new electric vehicles (EVs) licensed in April rose by 23 percent when compared with April 2024 (1,783 vs 1,444). This means the share of EVs among new private cars from January to April was 16 percent compared with 13 percent in the same period of 2024. The number of new plug-in hybrid electric vehicles (PHEVs) licensed in April 2025 grew by 73 percent when compared with April 2024 (1,761 vs 1,017). This has increased the year-to-date share of PHEVs among new private cars to 15 percent from 8 percent in the same period of 2024. The combined share of petrol and diesel cars among new private cars licensed from January to April 2025 has fallen in comparison with 2024 (44 vs 56 percent).   UK/Northern Ireland UK parliament’s Environmental Audit Committee calls for increased compulsory nature-recovery finance-raising schemes The UK parliament’s Environmental Audit Committee has advised the government to increase compulsory compliance schemes to raise the amount of money invested in nature recovery. In its report, The role of natural capital in the UK’s green economy, the Committee called on the government to offer more clarity on existing compliance rules and their intersection with each other, and to implement regulation to increase the integrity of nature markets.   Bank of England announces series of proposals regarding climate-related risks  The Bank of England (BoE) has  announced a series of proposals aimed at strengthening its expectations for banks’ and insurers’ management of climate-related risks, stating that while improvements in this area have been made over the past few years, “progress is uneven and more needs to be done.” A key proposal is the placement of a greater emphasis on scenario analysis, expectations for firms to identify and assess data gaps that act as barriers to management of climate-related risks, and for banks and insurers to more formally assess their climate-related risk appetites. A consultation on the new proposals will remain open until 30 July, 2025.   LSEG report finds measurable financial benefit to companies responding to climate-related physical risks A report by London Stock Exchange Group (LSEG) has found that companies responding to the physical risks associated with climate change are seeing a measurable financial benefit. The report, Investing in the green economy 2025: Navigating volatility and disruption, is the sixth annual report on the green economy produced by the LSEG’s Green Economy Forum, and looked at companies in sectors ranging from logistics to food processing and real estate. The findings showed that over 2,100 companies were able to generate over $1 trillion of combined revenues last year from products and services that contribute to climate adaptation (taking actions to reduce vulnerability and increase resilience to the impacts of climate change). Other findings were that revenues from green products and services across the report’s coverage now exceed US$5 trillion for the first time and that, if considered a standalone sector, the green economy – now spanning 50 markets globally – would be the fourth largest sector, after Technology, Industrials and Healthcare.   Europe Accountancy Europe publishes May Sustainability Newsletter Accountancy Europe’s May Sustainability Newsletter is now available, with information on the Omnibus ‘stop-the-clock’ directive, the simplification by the European Commission of the EU Deforestation Regulation implementation, EFRAG’s calls for input on ESRS Set 1 revision and workplan to deliver revised ESRS, and on IFRS and TNFD collaboration on nature-related information, and more.   Private sector and technology needed in climate adaption, says EU Ministers (From our friends in European Movement Ireland) An informal meeting of the EU Ministers for Environment and Climate took place in Warsaw last month, during which debate centred on the European Climate Adaptation Plan, which aims for the EU to be climate resilient by 2050. According to the October 2024 meeting of the EU Court of Auditors, the EU is underperforming in its climate adaptation targets. The conclusions in Warsaw highlighted the role of the private sector and technology in adopting effective adaptation plans to mitigate climate crises. Commenting after the meeting Polish Minister of Climate and Environment Paulina Hennig-Kloska said "Only a Europe of rich nations with strong economies can be a champion of global efforts to combat climate change".    France developing standards for assessing AI environmental impact France’s national standardisation body is reportedly developing guidelines and metrics for assessing the environmental impact of AI systems and services. The initiative is intended to anticipate and align with the upcoming EU AI Act’s technical standards on environmental sustainability, which are expected to come into effect in August 2026.   ESMA consults on rules for ESG Rating Providers The European Securities and Markets Authority (ESMA), the EU’s financial markets regulator and supervisor, has published a Consultation Paper on draft Regulatory Technical Standards (RTS) under the ESG Rating Regulation in an effort to enhance transparency, reduce conflicts of interest, and strengthen the credibility of sustainability data across Europe. ESMA will consider the feedback received to the consultation by 20 June 2025 and expects to publish a Final Report and submit the draft RTS to the European Commission for adoption in October 2025.    MEPs support proposals to simplify EU carbon leakage instrument The European Parliament’s Committee on the Environment, Climate Change and Food Safety have endorsed the EU Commission’s proposal (part of the “Omnibus I” simplification package presented on 26 February 2025) for a new de minimis mass threshold of 50 tonnes, which would exempt 90 percent of importers from EU carbon border adjustment mechanism rules. The EU’s carbon border adjustment mechanism is the EU's tool to equalise the price of carbon paid for EU products operating under the EU emissions trading system (ETS) with that of imported goods, and to encourage higher climate ambition in non-EU countries. The exempted 90 percent mostly comprises small and medium-sized enterprises and individuals, who import only small quantities of CBAM goods. This is to ensure that the CBAM’s environment goal is maintained, as 99 percent of total CO2 emissions from imports of iron, steel, aluminium, cement and fertilisers would still be covered by the rules. Separately MEPs have also adopted proposals from the Industry, Research and Energy Committee  for ways to enhance grid resilience, integrate renewable energy sources, and simplify processes to meet the EU's energy goals. The adopted text calls for the implementation of an EU grid action plan and highlights the need for significant investment and infrastructure upgrades to modernise and increase cross-border transmission capacity.   MEPs support flexible CO2 emission standards for new cars and vans MEPs have voted in support of the Commission’s proposed change to CO2 emission performance standards for new cars and vans to offer manufacturers the possibility to comply with their obligations for the years 2025, 2026 and 2027 by averaging their performance over the three-year period, rather than each individual year. This approach would allow them to balance any excess annual emissions by outperforming the target in subsequent year(s). The current rules set annual targets, covering five-year periods, for reducing average CO2 emissions from new cars and vans across the EU fleet. From 2025, an annual CO2 emission reduction target of 15 percent compared to 2021 values will be in application for the 2025-2029 period. To speed up its adoption, Parliament agreed on Tuesday to deal with the file under its urgent procedure. To enter into force, the draft law now requires formal approval by the Council, which endorsed the same text on 7 May 2025.   World 73 percent of large companies obtained assurance on their sustainability disclosures Almost three in four of the largest global companies have sought assurance on some aspect of their sustainability disclosures, according to an updated report from the International Federation of Accountants (IFAC) and AICPA & CIMA, The State of Play: Sustainability Disclosure and Assurance, (Five-Year Trends and Analysis, 2019-2023). The study marks the fifth annual benchmark that now includes 2023 data. The new figure represents an increase of 4 percent, up from 69 percent the previous year, according to the report, which five years ago was 51 percent. Most of the assurance then and now is of limited scope.   ISSB chair urges companies to fully engage with sustainability reporting International Sustainability Standards Board (ISSB) chair Emmanuel Faber has reportedly urged companies to fully engage with sustainability reporting to enable investors to invest where is most needed. In an article for the Financial Times’ Sustainable Views, Faber stated that companies have to choose between “basic compliance and ESG marketing, ticking off checklists of data hardly connected to actual management” or embrace what he described as  a “protocol for (re)creating competitive advantages and attracting capital at the best price in a fast-changing world, where finance is seeking its own resilience.” Faber highlights the centrality of a key player: the finance department, which he describes as “the true pivot of the strategic transformation of companies in a rapidly changing world”. Resources SEIA launches ‘Easy Wins’ for business owners The SEAI has launched its new business campaign ‘Easy Wins’, promoting SEAI’s wide range of business grants which make it easy for business owners to cut costs and become more energy efficient. The business supports grouped together include: vouchers for energy audits, business energy upgrades, tailored supports (e.g. grants) and links to case studies and training.     Global Capacity Building Coalition (GCBC) launches Accelerator programme The Global Capacity Building Coalition (GCBC) has launched its Accelerator programme, a global initiative that aims to identify, celebrate and support the most impactful and highest potential programmes in sustainable finance capacity building. The programme showcases and catalyses innovative and high-impact initiatives that mobilise sustainable finance to help bridge the investment gap in emerging markets and developing economies (EMDEs). It also provides tailored support for selected initiatives including expert advisory, communications and marketing support, partnership facilitation, as well as practical and operational support for capacity building activities. Applications remain open until Friday 4 July. Jobs Accounting for Sustainability (A4S) is looking for a Director to lead and expand its European CFO Programme – a key leadership role helping finance leaders embed sustainability into business strategy and operations. This is a chance to work with CFOs from some of Europe’s most influential organisations and drive systemic change through finance. The successful candidate will play a vital role in shaping A4S strategy to 2030 and amplify the impact of our work across the region. 📅 Deadline to apply: 10 June 🔗 https://lnkd.in/eh3W-ssP Articles More nature-related risks and opportunities in investor portfolios (Sustainable Views – FT – subscription) Getting started with sustainability planning and reporting (ICAEW Insights) How to start discussions with clients about nature (ICAEW Insights)           Buyer’s Remorse Hits Finance Bosses Who ‘Overhired’ for ESG (Bloomberg) CSRD has been a headache, but it helps business do better; let’s not lose our hard-won momentum (Business in the Community Ireland) Clean Energy Set to Meet 67% of Global Power Needs by 2050: Bloomberg Report (ESG Today) Green is the new gold: why sustainability is Iput’s strongest asset (Business Post) “There are easy wins available in most businesses” – What every SME in Ireland needs to know about making energy upgrades (Independent.ie) EUDR is Coming - Is Your Business Prepared? (IBEC)   Podcast Outrage + Optimism: The End of Oil: Inside the Hidden Decline of Fossil Fuels | Earth Day Special (54 mins) Events Dublin Chamber, The Sustainability Academy: Strategic Sustainability Leadership This course is tailored for business leaders and managers aiming to enhance their expertise in sustainability leadership. It delves into strategies for driving sustainable change within top organisations, the intricacies of crafting impactful sustainability reports, and the art of communicating sustainability initiatives to stakeholders. Virtual: Fri 16th - Mon 19 May 2025 | 9.30am - 12.30pm   SEAI, SME Business Briefing The SEAI is running an online business briefing to help businesses learn how to understand energy use and save energy costs across areas of your business, the immediate actions that have little to no costs and will help your business save energy and money, the benefit of completing an Energy Audit and SEAI’s Support Scheme for Energy Audits, SEAI supports and grants to help you further reduce costs and move away from fossil fuels, the Small-Scale Renewable Energy Scheme. Virtual, Tuesday 20 May 10.00-11.00   IOB, Financing Made Simple for SMEs: Sustainable Energy Upgrades for Commercial Buildings SustainabilityWorks has created a guide – with input from Chartered Accountants Ireland – to the financial aspects for SMEs in accelerating the energy upgrading of commercial buildings. At this free webinar, SustainabilityWorks’ Laura Heuston, a leading authority in Ireland on sustainable finance, will discuss the guide in detail, highlighting a range of funding options from low-cost loans, tax relief options to asset finance, solar power purchase agreements, lighting as a service, and more. Virtual, Wednesday, 21 May, 12.00-13.00   Dublin Chamber, The Sustainability Academy: Internal Sustainability Integration - Building a Sustainable Workplace Culture This workshop is for professionals in internal-facing roles, such as finance, operations, and HR. It focuses on integrating sustainability practices within an organisation’s internal mechanisms, highlighting how these practices can enhance employee engagement, operational efficiency, and the workplace environment.   Virtual: Mon 26 May 2025 | 9.30am - 12.30pm   EPA, EPA Annual Climate Change Conference 2025 The EPA Annual Climate Change Conference, "Emissions Trading and The Carbon Border Adjustment Mechanism" will be held on Wednesday 28 May 2025 in Dublin Castle. In person, May 28, 2025   UN Sustainable Development Solutions Network (SDSN), Sustainable Development Report (SDR) 2025 launch The UN SDSN will launch its report which this year has a unique focus on reforming the Global Financial Architecture (GFA) and scaling up global financing flows to support the SDGs through 2030 and beyond. The launch event will present key findings from the SDR 2025, including the updated SDG Index and Dashboards, and will feature insights from high-level leaders and experts on transforming the GFA to better serve sustainable development. Virtual, Tuesday, 24 June, 2024, 8:00 AM to 9:45 AM EST.     Enterprise Northern Ireland, Funding for Growth: Transitioning Your Business to Net Zero The third session in a three-part in-person series for Micro and Small Businesses, which also includes events on Accessing Debt Finance and Grant & Equity Finance, this session will cover the importance of net-zero in future-proofing your business, support available to help finance your transition to net-zero, and how small businesses are leading the charge to net-zero In person, Thursday 26 June 2025, 9:30am to 1:30pm, Venue: Craigavon Industrial Development Organisation, Portadown, Cost: Free     Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.    

Welcome to the latest edition of Technical Roundup. In developments since the last edition, the Irish Government summer legislative programme for 2025 has recently been published by the Dept of the Taoiseach. The Global Reporting Initiative (GRI) has written to the European Financial Reporting Advisory Group (EFRAG) setting out its recommendations of how simplification of the European Sustainability Reporting Standards could be achieved.  Read more on these and other developments that may be of interest to members below. Financial Reporting The IFRS Foundation has issued Compilation of Agenda Decisions — Volume 12 which contains all the agenda decisions made by the IFRS Interpretations Committee from November 2024 to April 2025. The IFRS Foundation has published an updated version of its educational material to support the consistent application of IFRS Accounting Standards related to going concern assessments. The FRC has published insights from stakeholders in its discussion paper "Opportunities for Future UK Digital Reporting”. This confirmed stakeholder support for digital reporting and ongoing collaboration between regulators and preparers to reduce complexity. IAASA is seeking feedback on a proposed policy – Publication of Information regarding IAASA’s Corporate Reporting Supervision Activities. This policy paper sets out IAASA’s policy on the publication of the outcomes of its corporate reporting examination activities as well as the nature and extent of information to be published. The proposed changes are open for public comment until Friday, 18 July 2025. In episode 2 of the ‘IAASA Insights’ series, IAASA discuss some key insights from its recent “Profile of the Profession” publication. The European Financial Reporting Advisory Group (EFRAG) has submitted its endorsement advice on IFRS 18 Presentation and Disclosure in Financial Statements to the European Commission. In its submission, EFRAG concluded that IFRS 18 meets the technical criteria for endorsement, is not contrary to the principle of true and fair view and that its adoption would be conducive to the European public good. EFRAG therefore recommended its endorsement. Auditing The FRC invites stakeholders to join an upcoming webinar (Wednesday 4 June, 13:00-14:00) where the ‘International Standard on Auditing for Audits of Financial Statements of Less Complex Entities’ (ISA for LCE) will be discussed. This webinar is part of the FRC’s campaign to support UK SMEs access audit services.   Following the approval of the International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements the International Auditing and Assurance Standards Boards (IAASB) has approved the withdrawal of International Standard on Assurance Engagements (ISAE) 3410, Assurance Engagements on Greenhouse Gas Statements. The withdrawal of ISAE 3410 will take effect from the effective date of ISSA 5000 which is in 2026. The IAASB has published a new Frequently Asked Questions (FAQ) document to support stakeholders as they implement International Standard on Auditing 570 (Revised 2024), Going Concern. The FAQ document addresses key questions on the enhanced auditor reporting model for going concern that is included in the revised standard. Specifically, it focuses on the implications for the auditor’s report when reporting entity specific going concern matters in a section titled ‘Going Concern’ or ‘Material Uncertainty Related to Going Concern.’ It also provides an illustrative example of an auditor’s report that provides a description of how the auditor evaluated management’s assessment of going concern. Readers should note that these FAQs are on the revised standard issues by the IAASB in 2024.  The standard in effect in Ireland is ISA (Ireland) 570 (Revised October 2019) Insolvency The CCAB-I Insolvency Committee are shortly publishing a guidance document which is a workbook for Creditor Voluntary Liquidations. On 10 June, Derek Wilson, a licensed insolvency practitioner and experienced insolvency monitor, and Sarah-Jane O’Keeffe, director at Azets, along with Chartered Accountants Ireland are hosting a free webinar which will provide an overview of best practice and introduce the new Creditor Voluntary Liquidation workbook. The workbook has been produced to assist Liquidators in complying with legislative and SIP requirements when conducting statutory meetings, reporting to creditors and approval of remuneration. To register for this free webinar, click here. Sustainability The European Securities and Markets Authority (ESMA) has published a Consultation Paper on draft Regulatory Technical Standards (RTS) under the ESG Rating Regulation. The International Sustainability Standard Board (ISSB) has posted the agenda for its next meeting to be held at its offices in Montreal on 15 May 2025.  The ISSB will receive an update on the enhancement of the SASB standards project, in particular with regard to the project activities and the project approach. Accountancy Europe has issued its May 2025 Sustainability update. The Global Reporting Initiative (GRI) has written to the European Financial Reporting Advisory Group (EFRAG) setting out its recommendations of how simplification of the European Sustainability Reporting Standards could be achieved. In its response to EFRAG’s public call for input on the matter, GRI has stressed the importance of three key considerations for the simplification process; Europe needs to remain a global leader in promoting the green economy Effective corporate reporting is a key enabler for sustainable development Simplification is welcome – if it is defined, applied and managed well EFRAG has released the event materials from its “VSME in Action: Empowering SMEs for a Sustainable Future” event, which was held on 7th April 2025. EFRAG has also released a series of 10 educational videos focused on the VSME reporting standards. Twenty consumer authorities, including Ireland’s Competition and Consumer Protection Commission have issued an open letter to the fashion retail sector on the use of environmental claims including advising fashion retailers to avoid vague and general terms. Artificial intelligence We have recently published some webpages on Artificial Intelligence. They are housed in our “Business and Regulation” section of the Technical Hub. The aim of the webpages is to inform members of the European Union's Artificial Intelligence Act, Regulation (EU) 2024/1689 ("EU AI Act"). This includes the scope of the EU AI Act, key dates, risk factors and penalties and a news page for recent news we think readers might be interested in. Readers may be interested in the Massive Open Online Course (MOOC) which the Law Society will be running on Artificial Intelligence. The course will run over a period of 5 weeks from 10 June until 8 July. It is free and is open to everyone and anyone who has a general interest in learning more about AI developments. Click to find out more about the MOOC and to register. The Irish Department of Public Expenditure, NDP Delivery and Reform has recently published a webpage containing Artificial Intelligence Resources. It contains information on links on a range of resources and practical tools designed to support the adoption of AI in the Public Service. This includes Guidelines for the Responsible Use of Artificial Intelligence in the Public Service and a tutorial dedicated to the AI Guidelines to assist participants in applying the guidelines in their own workplaces. Central Bank of Ireland (CBI) CBI recently held Spring meetings of its Financial Industry Forum and its three subgroups (Domestic, International and Innovation), facilitating strategic dialogue and engagement across the financial sector. They discussed topics such as CBI’s approach to supervision, its Innovation Sandbox Programme and Innovation Hub, the revised Consumer Protection Code, AI in Financial Services and EU and International policy and regulatory developments. Click for details on the CBI Forum and here for a summary of the discussion of the Financial Industry Forum International Subgroup. The Director of the Horizontal Supervision Directorate of CBI spoke at a recent Anti-Financial Crime Summit on “AML and Innovation – Opportunities and Challenges”. She referred to CBI’s decision last year to evolve its approach to supervision and regulation. To change towards a more integrated approach to supervision and build out a more integrated supervisory framework to look at risk in a more holistic way. She referenced Europol’s 2025 Serious and Organised Crime Threat Assessment. One of its core points is that AI is “fundamentally reshaping” the organised crime landscape, but CBI’s role is not to eliminate risks, or stymie innovation rather to ensure risks and innovation are appropriately managed. It is important that the threats and opportunities which these new technologies present are reflected in their development, adoption and regulatory supervision and that the use of innovative tools is compatible with international standards of data protection, privacy, and cybersecurity. Other recent CBI publications which may be of interest to readers are its Authorisations and Gatekeeping Report 2024 and Planning for the Transition to Net Zero - Our Perspective. Other news The Irish Companies Registration Office has in recent days announced the creation of the Open Data Portal. This is to comply with EU Open Data Regulations and for users to access essential company information in a clear, intuitive way. Readers can visit the CRO Open Data Portal here. The Financial Conduct Authority (FCA) is seeking views on the future regulation of specific crypto-asset activities, ahead of legislation to bring them within regulation. The Prudential Regulatory Authority (PRA) has published its April 2025 Regulatory Digest which highlights key regulatory news and publications delivered for the month. The European Securities and Markets Authority (ESMA) has published its advice to the European Commission (EC) to support the Listing Act's goals to simplify listing requirements and enhance access to public capital markets for EU companies. The Irish Government summer legislative programme for 2025 has recently been published by the Department of the Taoiseach. Click to read the press release on Finance (Provision of Access to Cash Infrastructure) Bill which was passed into law in recent days. Its objectives are to ensure sufficient and effective access to Cash in the State; to provide a framework to manage future changes to the cash infrastructure in fair, equitable and transparent manner; and that cash-in-transit providers and independent ATM deployers be registered and supervised by the Central Bank of Ireland. The UK Department for Business and Trade is researching how company directors balance their legal duty to make the business successful, while considering the interests of employees, customers, suppliers, communities and the environment (section 172 of the Companies Act). There are no plans to change these duties, but feedback will help the government to review how the legislation works in practice. The Dept. is seeking a range of views, including those from directors, secretaries, lawyers, accountants, and anyone else who has knowledge and experience of Section 172. Click to read more about the survey which is live until 30 May 2025. The Corporate Enforcement Authority (CEA) has recently published its May CEA newsletter. It has many interesting items including several on directors and their duties. Readers can click to subscribe to the CEA newsletter. Click to read the latest IDA News update and the Newsletter (114) of the European Data Protection Supervisor. 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.  

From the Professional Accountancy team…... The Irish Department of Public Expenditure, NDP Delivery and Reform has recently published a webpage containing Artificial Intelligence Resources. It contains information and links on a range of resources and practical tools designed to support the adoption of AI in the Public Service. This includes Guidelines for the Responsible Use of Artificial Intelligence in the Public Service and a tutorial dedicated to the AI Guidelines to assist participants in applying the guidelines in their own workplaces.   This information is provided as resources and information only and nothing in these pages 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 pages. 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 these pages, 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 in these pages.          

From the Professional Accountancy team…... In May 2025 the European Commission published a Q &A page on AI literacy. Article 4 of the EU AI Act requires providers and deployers of AI systems to ensure a sufficient level of AI literacy for their staff and any other users who are interacting with AI systems. It entered into application on 2 February 2025. Most readers are likely to be AI deployers meaning users of AI. Questions and answers are provided such as what is literacy for Article 4 and what should be the minimum content to consider for an AI literacy programme complying with Article 4.   This information is provided as resources and information only and nothing in these pages 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 pages. 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 these pages, 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 in these pages.  

On Wednesday 14 May the Ulster Society hosted an update aimed principally at members working in the public sector from Professor Robert Kirk. This 60 minute talk will concentrate largely on the very important changes that will be implemented in the private sector, arising from the publication of IFRS 16 Presentation and Disclosure in Financial Statements – the basics. The standard will have to be implemented into the government’s FReM within the next year or two so this short webinar will provide a brief insight into the possible changes to public sector reporting. A recording of this webinar is available to view, for free and on demand, HERE A copy of Professor Kirk's slides are available to view HERE

In Irish news this week, the Department of Finance has published its first Annual Progress Report and Revenue has published new guidance on the participation exemption for certain foreign dividends. In UK news, the Institute recommends that the introduction of any UK wide e-invoicing policy should commence on voluntary basis and HMRC is no longer providing unique taxpayer references (UTRs) to taxpayers or agents over the phone. In International news, two EU Parliament subcommittees will host a joint public hearing next week on the impact of tax policies on the EU housing crisis. Ireland 1. Read about the Annual Progress Report recently issued by the Department of Finance and the Department of Public Expenditure and Reform. 2. Revenue has issued new guidance on the dividend participation exemption. UK 3. The Institute responded last week to the consultation by the UK Government  on e-invoicing, outlining the recommendation that any e-invoicing policy should commence on voluntary basis. 4. HMRC is no longer providing unique taxpayer references (UTRs) to taxpayers or agents over the phone for security reasons. International 5. Read about the upcoming public hearing on the impact of tax policies on the housing crisis in the EU. Keep up to date with all the latest Irish, UK, and international tax developments through Chartered Accountants Ireland’s Tax Newsletter. Subscribe to the Tax News by updating your preferences in MyAccount. You can also read this week’s post EU exit corner here.  

Readers may be interested in the Massive Open Online Course (MOOC) which the Law Society will be running on Artificial Intelligence. The course will run over a period of 5 weeks from 10 June until 8 July. It is free and is open to everyone and anyone who has a general interest in learning more about AI developments. To find out more about the course and to register you can click here https://mooc2025.lawsociety.ie/    

A co-founder with a passion for using her skills and experience for a positive impact, Sophie Dillon took the leap from Kells to Toronto via Dublin. We caught up with Sophie recently to hear her story. 1. Where did you grow up and where do you live now? I grew up in Kells, Co Meath and studied at University College Dublin. Today, I live in Toronto, Canada. I had always wanted to build an international career, and Toronto offered the kind of dynamic, fast-moving business environment I was looking for. 2. What led you to chartered accountancy? Studying Commerce in UCD, I found I really enjoyed the structure and logic of accounting. I’ve always liked solving problems and the qualification offered a solid foundation with broad career options—whether in practice, industry, or something more entrepreneurial down the line. As a child and teenager, I had a real passion for  showjumping and I think if I hadn't come down this road I would have loved a career in the equestrian industry! 3. Can you tell us a little about how you got to where you are today – both the geographical relocation and career path? I trained with KPMG’s Restructuring department in Dublin, where I worked with businesses navigating financial challenges. From there, I joined KKR, working on their European leveraged credit team, focusing on healthcare investments. I later moved to Canada and held several finance leadership roles, including at an early-stage healthcare startup. Today I’m the co-founder of Orbit Accountants, a firm set up in 2023 to support SMEs across Canada and the US with bookkeeping, payroll, tax and fractional CFO services. I co-founded the company with Malay Matalia who I met in Toronto. We shared a belief that SMEs and growing businesses deserve better access to high quality financial support. Toronto is a global city, and moving here really broadened my perspective, opening up a network I might not otherwise have encountered. 4. What do you value most about your membership of the profession and how do you think those benefits can be used to support the economy and society? The training really sharpens your ability to think critically, assess risk, and communicate clearly—skills that are valuable far beyond finance. As the economy evolves, there’s a real need for professionals who can leverage financial data for strategic insights and support good decision-making. 5. As a member living away from Ireland, can you talk to us about how your membership has been of value to you living overseas? The designation carries weight internationally, and that’s been important for building trust in a new market. It also creates an instant sense of community—particularly with the strong network of Irish professionals here in Toronto. That network has been valuable both professionally and personally. 6. What were the most significant/noticeable differences you encountered doing business and networking away from home and back in Ireland? Networking in Ireland tends to be more informal and relationship-led from the start. In Canada, there’s a bit more structure around it—people are generous with their time, but there’s usually a clear agenda. Both styles have their strengths, and I’ve found that being able to adapt between the two has been a real asset. The common thread in both places is that strong relationships, built over time, always matter. Sophie Dillon is Co-Founder of Orbit Accountants in Toronto.  

Revenue has updated its guidance on the computation of Case I and Case II profits or gains of a company. Section 11.8 of the guidance now includes an example of correction of an error where the error has been identified prior to the filing of the tax return.

Revenue has updated its guidance on filing and paying stamp duty on Instruments to include details on amending a return filed on ROS. The guidance on charging and stamping of instruments has also been updated.   The manual on filing and paying stamp duty has been updated to outline the process to be followed when a filed stamp duty return needs to be amended by someone other than the original filer. References to ‘Using ROS offline’ have been removed as the Return Preparation Facility is now the online facility which can be used to prepare stamp duty returns. The guidance on charging and stamping of instruments has been updated to provide additional guidance on the operation of these provisions.

Revenue has updated its guidance in two of its manuals on the operation and administration of Ireland’s Pillar Two legislation. The guidance materials in question are: Part 04A-01-02 – Global Minimum Level of Taxation for Multinational Enterprise Groups and Large-Scale Domestic Groups in the Union Part 04A-01-01 – Global Minimum Level of Taxation for Multinational Enterprise Groups and Large-Scale Domestic Groups in the Union - Administration Finance Act 2024 provides that certain of the amendments to Part 4A TCA 1997 shall apply in respect of a fiscal year or an accounting period commencing on or after 31 December 2024. The guidance in Part 04A-01-02 has been updated to confirm that Revenue is prepared to accept the application of these provisions to a fiscal year or an accounting period commencing prior to 31 December 2024. The administrative guidance contained in Part 04A-01-01 has been updated to outline how the Undertaxed Profit Rule (UTPR) and the Qualifying Domestic Top-Up Tax (QDTT) group recovery provisions are applied where a securitisation entity is part of a UTPR and a QDTT group.