In our last blog about preparing the reporting accountants report under the ROI Law Society Solicitors Accounts Regulations, 2014, we mentioned that the work involved is a quite onerous and responsible task, and carries with it the requirement for compulsory professional indemnity insurance at a minimum of €500,000.
Many accountants ask themselves the question - would the quality of my work be good enough to allow me to be alert to the following types of scenario that have occurred in legal firms?
A landmark EU data protection judgment in 2014 on the ‘right to be forgotten’, has affected the ability to use Google and other well-known search engines to carry out anti-money laundering (AML) due diligence.
Readers may have heard by now that there is a new audit reporting requirement about going concern contained in a new style of audit opinion. For companies and credit unions with a reporting period commencing on or after 17 June 2016 (in effect 30 June 2017 year-ends onwards), auditors must now include a specific conclusion in the auditor’s report on going concern.