My ambition as President of CPA Ireland is to continue to build on the great foundations laid before me and to serve CPA Ireland to the best of my ability.

It is also the case that after a decade of very low interest rates and significant growth in money supply due to Quantitative Easing (QE), the foundations had been laid for a spike in inflation.

Since peaking in October 2022, headline inflationary pressures have eased, but this is largely due to lower energy prices. Excluding energy, underlying inflationary pressures are still strong. These underlying price pressures include non-energy goods, food prices, the price of a diverse range of services, and wage pressures are building against a background of still-tight labour markets in most countries.

It was after my Junior Cert at St Munchin’s College secondary school in Limerick when I realised that accounting was one of my stronger subjects, and I decided I might be interested in studying Law and Accounting at the University of Limerick.

However, I did not end up getting the CAO points I needed at the time and did an alternative course – a Diploma in Business Studies (Marketing) at HSI Limerick Business School. Accountancy was still one of my stronger subjects in both my Leaving Cert and college and so began my journey in the world of accountancy.

To be honest, I was receiving more exemptions and the timing of the exams suited my needs best.

I then researched the popularity of the CPA qualification compared to other qualifications and realised that the CPA was the primary qualification in the US and other countries, which were all on my bucket list for travel once I qualified. The timing and frequency of the exams also suited me better.

Aligning with their core values of Independence, Fairness, Respect, Accountability and Proportionality, the Charities Regulator regulate the charity sector in the public interest to ensure compliance with charity law and support best practice in the governance and administration of charities.

Helen Martin, CEO of the Charity Regulator advises that they are “working to increase public trust and confidence in management and administration of charitable trust and charitable organisations” resulting in the following functions:

• expands the scope of the companies that fall under these rules;
• introduces a phased-in approach to application, starting from 1 January 2024;
• mandates providing sustainability information in a separate section of the management report;

It’s the unintended consequence of you believing that you have greater DIY skills than you actually have.

The same issue can occur when Legislation is being drafted, especially if that legislation is focused on one specific area rather than an issue as a whole.

The purpose of the CRBOT is to help prevent money laundering and terrorist financing by improving transparency on who ultimately owns and controls Irish trusts.

The terminology used in anti-money laundering to refer to persons who are obliged to implement measures under the Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 is designated persons. This term includes auditors and external accountants.

Under the new offer – called the ‘Post-Brexit Market Growth and Diversification Grant’ – eligible Enterprise Ireland and Bord Bia client companies can access a fast-track strategic market development programme that will assist them to develop a strategy to enter and grow new markets outside of the UK.

This edition of the Labour Market Pulse highlights the rising importance of Artificial Intelligence (AI) skills among today’s workforces and takes a closer look at the growth of AI in Ireland. AI, and the skills related to it, are central to empowering businesses to digitally transform their organisations.

The growth of AI is anticipated to positively impact jobs and skills across multiple sectors and many businesses are currently in the early stages of identifying their potential use of AI.

AIB’s 2022 Sustainability Report discloses for the first time the extent to which AIB will significantly reduce carbon emissions on its residential mortgages, commercial real estate and corporate loan books by 2030. For example, the bank is aiming for a reduction in emissions intensity of 58% per square metre on homes funded by €29.4 billion of residential mortgages and 67% per square metre on commercial real estate funded by €5.6 billion of loans. AIB’s electricity generation portfolio is primarily comprised of renewable energy assets such as offshore wind and is already at a very low level of emissions intensity aligned to decarbonisation pathways that deliver a 1.5°C outcome. AIB has committed to maintaining this part of its loan book at these very low levels.

Where employees are working in a different jurisdiction to the one in which they are employed, several factors must be considered. Could there be unintended corporate tax risks such as the creation of a permanent establishment in the remote working location? Are there immigration and employment law implications?, and what are the potential employer payroll reporting requirements and social security implications?, to name but a few. Often these factors are overlooked until such point as it becomes an issue for the employer or employee which can lead to increased compliance costs and potential penalties. As a result, many organisations have now modified their remote working policies to limit the number of days employees spend working in a foreign location to a number they feel more comfortable with to manage these risks. The focus of this article is the employment tax implications of these arrangements.

1. SURE Relief

To qualify for SURE relief, various conditions are required to be satisfied. A sample of the conditions that are required to be satisfied are outlined below:

ISA 240 defines fraud as follows:

Fraud – An intentional act by one or more individuals among management, those charged with governance, employees, or third parties, involving the use of deception to obtain an unjust or illegal advantage.

In today’s fast-paced and demanding world, happiness is often overlooked as a crucial factor for professional performance and development. However, research in positive psychology has shown that cultivating happiness can significantly impact our success and productivity. For example, doctors in a positive mood have been shown to be 19% more effective in diagnosing patients. Optimistic salespeople outsell their pessimistic counterparts by 56%. Recent research has shown that overall happier people are 13% more productive.

The former CEO of Theranos, Elizabeth Holmes has had her day in court, and has been found guilty of fraud. Late last year, a judge sentenced Holmes to 11 years in prison. More recently Holmes lost her bid to remain free during the appeal process and was ordered by a federal court to begin her sentence on April 27th.

Holmes touted Theranos as a health technology company, raised US$700 million, featured on Forbes and defrauded a catalogue of wealthy families, as well as a number of prominent statesmen.

Please inform your employer if they are currently paying your fees and ensure your own records are updated.

For those members who have not yet paid, please bring your account up to date as soon as possible, as subscriptions are now overdue.

It is also important to check for any outstanding invoices or anomalies with your account. View Cart is a good place to check. For Practice Firms, you should check any fees charged to firm.

– Lisa Leonard, ACCA CTax