KnowledgeHUB – Most Common Technical Queries of 2020
Course Summary
1 hour online
€ 38
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Course Details
1 hour KnowledgeHUB Team & Des O’Neill, OmniPro
In this online CPD course, key members of the KnowledgeHUB Technical Team – John Murphy, Colm Owens & Mike O’Halloran – will answer some of the most problematic and pressing queries facing Irish accountants that have crossed the KnowledgeHUB technical help desk over recent months.
- A case study on winding down a company/companies in a group that is ceasing/has ceased trading and has inter-company trade balances – the Company law, tax and financial reporting implications/options to be considered to get to the best outcome
- Defective financial statements – correcting financial statement on the register – The new requirements of the CRO
- The impact of restatement of prior year accounts for the change in accounting policy where previously under FRS 102 – the undue cost and effort approach was taken to an investment property – what is to be considered from a tax perspective
- The importance of documentation for Companies with insolvency issues so that the directors protect themselves;
- What is a flowering/growth share and how may it incentivise key employees?
- CBI regulated companies – financial reporting, audit & auditor reporting requirements
- Directors loans – disclosure and report requirements
- I have recently taken on a new audit client. I wrote to the previous auditor for professional clearance several times but they have not replied. Can I accept appointment?
- I have a company who bought shares at say €100,000. These are valued at €30,000 at the year end and carried at same in the financial statements. Should I recognise a deferred tax asset?
- If I am auditing a set of financial statements where the prior year is unaudited are there any additional paragraphs to include in my audit report?
- I have a client who holds an asset which cannot be easily valued (sporting venue). COVID-19 has presented an impairment indicator and I am trying to carry out an impairment review. How can I assess “fair value” in
this instance?
CPD Course Facilitators
Des O’Neill: Co-Founder and Managing Director, OmniPro
Having worked for a number of years in practice, Des O’Neill co-founded OmniPro to develop tools, techniques, products and services, empowering accountants to achieve their best. Over 15 years, he has grown the company to a multi-million-euro turnover business and established OmniPro as Ireland’s largest independent provider of CPD for accountants.
Des speaks regularly, at national and international fora, on practice development, auditing, accounting, company law and regulation. He is passionate about bringing innovation to the profession and empowering accountants to achieve what they want in their careers and practice.
Colm Owens: Practice Support Executive, OmniPro
As a members of our Practice Support team, Colm’s focus is on helping practices achieve on-going best practice compliance, prepare for monitoring visits and assist with post-monitoring visits follow-ups.
Colm brings a unique insight into the whole area of monitoring and compliance having spent the last 6 years as a quality reviewer with Chartered Accountants Ireland. In that role he has visited firms of differing sizes all over the country which has given him an insight into how firms operate, the challenges facing firms and how firms are responding to current issues facing them and the profession. He has gained up-to-date knowledge of audit, accounting, money laundering and regulatory compliance issues relevant to the profession and knowledge of current audit methodologies.
Prior to his time with Chartered Accountants Ireland, Colm’s roles included Audit Manager with Anne Brady McQuillans and Brophy Gillespie, both in Dublin, where he worked with a range of clients from small owner-managed businesses through to larger audit clients.
John Murphy: Tax, Corporate Restructuring and Practice Support, OmniPro
As a lead member of our technical support team, John relishes problem-solving to help accountants develop innovative client solutions and sharing technical knowledge on tax, financial reporting and auditing.
A Chartered Tax Adviser, he advises clients in practice on a range of issues from income tax, tax planning, restructuring and exit planning to Revenue audits. In addition, he provides support on financial reporting, auditing and company law; conducts company valuations and advises on pre-sale restructuring.
John also plays a key role as a researcher and subject-matter expert in developing OmniPro information products such as the CompaniesAct2014.com and FRS102.com. As a speaker at OmniPro CPD events, he brings these industry-leading insights to accountants participating in our training programmes.
Mike O’Halloran: Practice Support Executive, OmniPro
Mike, a member of our Practice Support team, is a qualified Chartered Accountant and Chartered Tax Advisor. He is responsible for carrying out hot file reviews, cold file reviews, annual compliance reviews, in-house training & supporting firms on a day to day basis.
Formerly a quality reviewer with Chartered Accountants Ireland, this role saw him visiting firms of various sizes across Ireland conducting audit, non-audit and anti-money laundering visits. Prior to this he spent 12 years working in small and medium sized practices. In these roles, Mike has gained a comprehensive knowledge of the profession and has worked with a broad range of clients across many industries.