Institute welcomes Tánaiste’s clarification on financial reporting and corporate governance disclosures
Chartered Accountants Ireland this week welcomed new Regulations recently signed by the Tánaiste that provide clarification around the effective dates of new financial reporting requirements and new disclosures relating to corporate governance practices adopted by listed companies that arise from a European Directive.
This could be merged with the COTY 2010 thread.
Bandage are you actually a member?
Glad thats cleared up
Did Mary Cawlin have any comments to make?
How has your relationship been with the Institute over the years Maire?
I’m FCCA and AITI
Although I’m probably not going to continue stumping up. Well maybe AITI
Toilet paper.
I’d agree
But you’re an Auditor
and you count a hand shandy as a score
so I dunno
Actually, just wondering mind, did that girl launder your scarf?
Yes Farmer, I’m a member. Are you going to the annual conference this year? It’s shaping up to be a belter:
This year, on May 6th and 7th, the Chartered Accountants Ireland Annual Conference – Turning the Corner - will be held in our new Pearse Street Training Centre and Headquarters, Chartered Accountants House, in Pearse Street, Dublin 2.
The line up is superb and includes an opening address by An Taoiseach, Brian Cowen TD. Other plenary speakers include Matt Cooper of Today FM, Dan O’Brien of the Economist Intelligence Unit, Cormac McCarthy of Ulster Bank and the former World Cup Winning New Zealand rugby captain Sean Fitzpatrick.
Vincent Sheridan, former President and Chief Executive of VHI, will moderate a discussion on ethics and governance involving Professor Niamh Brennan of UCD, Kieran Wallace, KPMG and Chartered Accountants Ireland Council Member, Brendan Lenihan.
There is something in the Conference for all Chartered Accountants. In addition to the plenary sessions the conference also facilitates three different streams on Thursday Afternoon – Technical, Blueskies & Taxation and on Friday in addition to the Business, Practice and Financial Services streams there is also a networking session.
Priced at €350 including the Gala Dinner and with 11 hours CPD available, this is the best Chartered Accountants Ireland Conference ever.
What would you know about auditing?
Cheap Suits, dandruff, packed lunches and Lever Arch files
whats to know? 
I’m …eh busy that day.
You got your fees and contract sign off sorted out then obviously?
Very good Maire.
I actually got that.
Which brings instances of me getting what you are talking about to… one.
Ye could spend those two days playing cards, and still get 11 hours CPD
Don’t be too quick to sneer.
Clarification provided on SI 450
On 25th February 2010, the Tánaiste signed into law Statutory Instrument 83 of 2010, amending Statutory Instrument 450 (‘European Communities (Directive 2006/46/EC) Regulations 2009’) (‘SI 450’). SI 450 gave effect to new financial reporting and corporate governance disclosure requirements as contained in a European Directive of the same name.SI 83 clarifies the effective dates of the various provisions, and their scope, contained in SI 450. It also aligns the role of the auditor in reporting on the new corporate governance disclosures with the provisions of the underlying EU Directive. The amending SI has immediate effect and partially defers a number of the provisions of SI 450.
A bit sensationalist just to post that up there like that Rocko, you should have noted that it only applies to entities whose securities are admitted to trading on a regulated exchange in the EU. You may very well have caused panic among a few members.
The charted Institute must be one of the most disgusting organisations there is in this country. A bigger shower of knob ends you couldn’t wish to meet.
Northern Ireland’s Chartered Accountants said that Chancellor Alistair Darling’s Budget was more about political statements than economic announcements, but that there was some support for small businesses which could have a positive effect for local firms.
Kevin Kingston, Chairman of Chartered Accountants Ulster Society, a district society of Chartered Accountants Ireland said: "Perhaps the best news of this year’s budget for local business is that the rate of Corporation Tax for small companies has not increased from 21%, as most local companies would fit into this category. A rate rise had been rumoured previously but we’re glad to see the rate maintained. At a very difficult time for small businesses we need to keep their costs down.
"We would also welcome the £2.5 billion package to boost skills and innovation amongst small businesses and the increase to the threshold of the Annual Investment Allowance to £100,000, meaning that business can get more immediate tax relief on investing in plant and machinery.
“Our priority must be to sustain and develop the best of what we have in our local economy. To achieve that, we must find a blend of public sector strategic thinking and decisive private sector commerciality. It is vital that our political leaders and business sector work together to build for economic recovery.”
The Chairman of the Chartered Accountants Ireland Northern Ireland Tax Committee, Mr Eamonn Donaghy, said: "The Capital Gains Tax rate has helpfully remained at 18%, and this, coupled with a doubling of relief on Capital Gains Tax for entrepreneurs so that the first £2m of gains from sales of business assets and shares will be taxed at only 10%, should help to encourage business and share disposals.
"The big headline is the scrapping of stamp duty land tax for homes below £250,000 for first time buyers. It’s a step which may encourage many first time buyers to get onto the property ladder and should have a positive impact on activity in the Northern Ireland housing market.
"While there is some good news for Northern Ireland here, we would like to see more being done to stimulate the business sector. In order to encourage multinational inward investment we recommend the introduction of a new Technology Zone in Northern Ireland which would confer tax benefits such as a 12.5% rate of corporation tax and a special regime of capital allowances for companies operating within that zone.
“In addition, to encourage more R&D in Northern Ireland a Northern Ireland specific R&D tax relief should be implemented. We propose an increase in the tax credit available to 200% of expenditure on R&D, coupled with a relaxation on the rules governing what constitutes R&D expenditure.”
Ends
I rang tinnion with an IAS 37 related query today. He was most professional and helpful.
Tinnion, I’d urge you to get your practicing cert and leave your current employers. And also come to this shindig tonight.
You’re welcome Clarkey.
I spoke to the young lady in our firm that is organising the drinks and informed her I was not in a position to attend.
Enjoy the night and don’t forget the mantra - you’ve got to network to get work.