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EisnerAmper Ireland | Facilitating trade, understanding markets. Ireland

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News & updates - EisnerAmper Ireland

20.9.2019

Insurance Ireland INED Forum supported by EisnerAmper

Dave Montgomery | Insurance Ireland Event | Financial Services | EisnerAmper Ireland

On Thursday, 19 September, Insurance Ireland, supported by EisnerAmper Ireland, hosted the latest in the INED Forum series in the St. Stephens Green Club, Dublin.  The event was a great success and we were delighted to have the opportunity for members of our team to connect with the Insurance & Reinsurance INED community.

Dave Montgomery, Partner and Head of Risk & Regulatory at EisnerAmper Ireland moderated the event. The keynote speakers were Domhnall Cullinan, Director of Insurance Supervision at Central Bank of Ireland and Brendan McCarthy, a key member of the INED community and new Vice Chair of the Insurance Ireland INED Council.

Dave Montgomery | Insurance Ireland Event | Financial Services | EisnerAmper Ireland

(L to R): Brendan McCarthy, Domhnall Cullinan and Dave Montgomery

EisnerAmper Ireland is delighted to continue working with Insurance Ireland and their INED Council.  As the voice of insurance actively promoting the highest standards, Insurance Ireland represents 95% of the domestic market and more than 80% of Ireland’s international life insurance market.  The Insurance Ireland INED Council promotes best practice for insurance industry INEDs in addition to acting as a sounding board for entities, organising appropriate training and acting as a networking hub.

Dave Montgomery | Insurance Ireland Event | Financial Services | EisnerAmper Ireland

(L to R): Domhnall Cullinan and Vincent Sheridan

We deliver specialist Insurance Regulatory Compliance Services to help you meet your regulatory compliance and corporate governance requirements.

EisnerAmper Ireland is a firm of specialist accountants with a niche focus on the Financial Services, International Trade and Government sectors.  As Head of Risk & Regulatory at EisnerAmper Ireland, Dave Montgomery leads a team in the provision of regulatory, risk management, audit and advisory solutions to Insurers and Reinsurers operating in or through Ireland.  As a former regulator with the Central Bank of Ireland, Dave supervised insurance and reinsurance firms and also worked on the development and implementation of the PRISMTM framework.  If we can assist you or your business in any way, please contact Dave Montgomery.

Contact Dave

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18.9.2019

EisnerAmper Ireland attends launch of partnership between Chartered Accountants Ireland and leading software providers

Sarah Ryan Chartered Accountants Software Launch | Financial Services | EisnerAmper Ireland


Minister for Finance, Public Expenditure & Reform, Paschal Donohoe, TD with student Sarah Ryan of EisnerAmper and Supreeth Mohan of HLB Ryan. Back row (l-e): John Munnelly, Chartered Accountants Ireland; Ian Browne, Chartered Accountants Ireland; Conall O’Halloran President of Chartered Accountants Ireland; Eugene Hillery of Tableau and Michael Ellis of UiPath.

On 16 September, Sarah Ryan, Trainee Chartered Accountant at EisnerAmper Ireland, attended the launch of a new partnership between Chartered Accountants Ireland and leading software providers UiPath, Tableau and Alteryx. From the end of September 2019, more than 1,300 students per year will begin to study and develop practical skills in Artificial Intelligence (AI), Robotic Process Automation (RPA), Data preparation and Data analytics, Blockchain and Cryptocurrencies as part of a shake-up of the Institute’s education programme for final year students.

Attending the launch, the Minister for Finance, Public Expenditure & Reform, Paschal Donohoe, TD, welcomed the partnership noting, “Ireland has the potential to be a global leader and location for innovation in financial and technology services. I welcome the collaboration between Chartered Accountants Ireland and UiPath, Tableau and Alteryx to meet the evolving needs of Ireland’s financial services sector. This programme will ensure that as technology shapes the sector over time, Ireland will continue to have a talent pool of people skilled and available to business and industry.”

Sarah Ryan was delighted to represent EisnerAmper Ireland at the launch event and to meet with Minister Donohue, President of Chartered Accountants Ireland, Conall O’Halloran, and representatives from UiPath, Tableau and Alteryx.

The partnership will create new highly skilled graduates ready to fill in-demand roles in industry and private practice, many of which did not exist five years ago as firms increase their own investment in new technologies to service client work with greater efficiency, accuracy and insight.  Currently, 70% of the Institute’s graduates already work in the industry as in-house advisors to some of Ireland’s largest technology, finance, aviation and energy companies.

At EisnerAmper, we design and deliver business & compliance solutions to make trade happen.

Domestic and international businesses face significant regulatory, economic and financial challenges while the rise of FinTech, RegTech and other solutions present new opportunities. Successfully managing these challenges, while optimising opportunities, requires specialist expertise and innovative solutions. We combine our subject matter expertise with best in class technology platforms to deliver market leading solutions to the financial, regulatory and professional services sectors. If we can help you or your business in this regard, contact us.

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12.9.2019

EisnerAmper Ireland attends Les Rendez-Vous de Septembre in Monte Carlo

Les Rendez-Vous de Septembre | Financial Services | EisnerAmper Ireland

Dave Montgomery and Tom Brennan, Risk & Regulatory Partners at EisnerAmper Ireland, attended one of the biggest events in the insurance calendar, Les Rendez-Vous de Septembre in Monte Carlo. The event was a great success and we were delighted to have the opportunity for members of our team to meet clients and connect with friends of the Firm.

Lez Rendez-Vous de Septembre is an international Reinsurance congress that facilitates participants meeting to discuss matters which concern the market. It also marks the beginning of the annual negotiation process prior to the renewal of Reinsurance treaties, encouraging high level contact and engagement which can lead to long term strategic alliances.

We deliver specialist Insurance Regulatory Compliance Services to help you meet your regulatory compliance and corporate governance requirements.

EisnerAmper Ireland is a firm of specialist accountants with a niche focus on the Financial Services, International Trade and Government sectors.  As Head of Risk & Regulatory at EisnerAmper Ireland, Dave Montgomery leads a team in the provision of regulatory, risk management, audit and advisory solutions to Insurers and Reinsurers operating in or through Ireland.  As a former regulator with the Central Bank of Ireland, Dave supervised insurance and reinsurance firms and also worked on the development and implementation of the PRISMTM framework.  If we can assist you or your business in any way, please contact Dave Montgomery.

Contact Dave

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9.9.2019

EisnerAmper Ireland attends basis.point 7th Annual Corporate Golf Challenge

EisnerAmper Ireland are proud supporters of basis.point, the Irish Fund Industry’s initiative to come together to help make a difference to those in need.

On Friday 6 September, Gavin Lee, Head of International Trade, David Carroll, Director, Financial Services, and Cian Collins, Senior Manager, Financial Services, were invited to the basis.point 7th Annual Corporate Challenge in Milltown Golf Club by Link Asset Services. The event was a great success and we were delighted to have the opportunity for members of our team to enjoy a pleasant afternoon and connect with friends of the Firm.

Basis.point | Event | Financial Services | EisnerAmper Ireland

basis.point’s vision is to help make a sustainable and tangible difference to the lives of those living in poverty, particularly young people, by supporting charities which focus on education.

To find out more about basis.point or to donate, visit basispoint.ie.

We care about business and we care about the people we work with in business.

At EisnerAmper Ireland we create business & compliance solutions for Asset Managers and Funds to make trade happen. If we can assist you or your business in this regard, please contact Gavin Lee.

Contact Gavin Lee

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2.9.2019

EisnerAmper Ireland Summer Games 2019

EAI Summer Party | Summer Games 2019 | Latest News | CSR | Financial Services | EisnerAmper Ireland

On Friday 30 August 2019, EisnerAmper Ireland’s staff took part in our Summer Games and BBQ in Wanderer’s Rugby Club, Dublin 4.

The EisnerAmper Ireland team enjoyed an afternoon of sports and activities, including archery and a slow bike race, followed by a BBQ and drinks at the venue.  The evening was a great success and provided an opportunity for newer members of the team to get to know the rest of the Firm, while all employees enjoyed a break and an afternoon in the fresh air.

Members of Team 4 won the first place prize at the Summer Games and were awarded medals and gift tokens from the Firm. The winning team, pictured above, consisted of Ciaran Brady, Jennifer Thompson, Aisling Power, Gavin Redmond and Thomas Territt.

A selection of photographs from the event can be found below.

EAI Summer Party | | Latest News | CSR | Financial Services | EisnerAmper Ireland

( L to R back: Alastair MacDonald, Shane Mooney, Brian O’Callaghan, Zoe Maloney, Kun Liu) (L to R front: Aidan Lundy, David Bell)

EAI Summer Party | Latest News | CSR | Financial Services | EisnerAmper Ireland

(L to R back: Jennifer Kelly, Yevgeniy Podkladnev, Stephen Murtagh, Aideen Conneely, Celina Dunne) (L to R: front: Jarlath Glynn, Malin Wallvik)

EAI Summer Party | Latest News | CSR | Financial Services | EisnerAmper Ireland

(L to R: James Farrelly, Aisling McCaffrey, Gavin Lee, Jass Ern Teh, Doru Florea, Cian Collins, Matthew McCarthy)

EAI Summer Party | Latest News | CSR | Financial Services | EisnerAmper Ireland

EAI Summer Party | Summer Games 2019 | Latest News | CSR | Financial Services | EisnerAmper Ireland

We care about business and we care about the people we work with in business.

Our team includes people with multi-disciplinary backgrounds who bring fresh, candid and connected perspective to how we work. We strive to nurture and leverage the talent and unique ability of each individual member of our team. To read more about Life in EisnerAmper and about our career opportunities click here.

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28.8.2019

Dave Montgomery presents at The Association of Compliance Officers in Ireland Seminar 2019

Dave Montgomery | ACOI Seminar | Financial Services | EisnerAmper Ireland

On Wednesday 28 August 2019, Dave Montgomery, Partner and Head of Risk & Regulatory, presented at the Chartered Accountants House, Pearse Street, for it’s latest Association of Compliance Officers in Ireland (ACOI), lunchtime seminar.

The event was a great success and we were delighted to have the opportunity to present to members of the ACOI community. Dave covered a range of topics at the seminar including the role of the Compliance function, regulatory expectations regarding how they should operate and how sectoral differences may impact on those working in compliance roles among other topics.

Dave Montgomery | ACOI Seminar | Financial Services | EisnerAmper Ireland

We deliver specialist Insurance Regulatory Compliance Services to help you meet your regulatory compliance and corporate governance requirements.

EisnerAmper Ireland is a firm of specialist accountants with a niche focus on the Financial Services, International Trade and Government sectors.  As Head of Risk & Regulatory at EisnerAmper Ireland, Dave Montgomery leads a team in the provision of regulatory, risk management, audit and advisory solutions to Insurers and Reinsurers operating in or through Ireland.  As a former regulator with the Central Bank of Ireland, Dave supervised insurance and reinsurance firms and also worked on the development and implementation of the PRISMTM framework.  If we can assist you or your business in any way, please contact Dave Montgomery.

Contact Dave

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23.8.2019

EisnerAmper Ireland hosts Annual Golf Day 2019

Annual Golf Day | EisnerAmper Ireland | Financial Services

On Thursday 22 August 2019, EisnerAmper Ireland hosted its Annual Golf Day in Powerscourt Golf Club, Enniskerry. Thank you to all the participants who took part on the day.

The event was a great success and we were delighted to have the opportunity for members of our team to connect with so many clients and friends of our Firm. A total of 18 teams enjoyed a light lunch before heading out to the East Course for a very enjoyable afternoon of golf.

The game was followed by refreshments and a BBQ on the balcony of the Clubhouse with prizes presented to the winning teams.

Please see below for a selection of photo’s from the day.

Annual Golf Day | EisnerAmper Ireland | Financial Services

Ray Kelly & Dave Carroll presenting 1st place winners: (L to R: Paul MacCarthy, EAI, Karl McEneff, Sumi Trust & Barry Griffin, Greenlight) their clubs

Annual Golf Day | EisnerAmper Ireland | Financial Services

Ray Kelly presenting 2nd place winners: (L to R: Morgan Sheey, Walkers, Paul Griffith, Intertrust, Nigel Woods, Almstrow, Dave Carroll, EAI) their golf shoes

Annual Golf Day | EisnerAmper Ireland | Financial Services

Ray Kelly & Dave Carroll presenting 3rd place winners: (L to R: Hugh O’Hagan, W&W, Donal Courtney, INED, David Whelan, INED, Matthew Williamson, Montlake) their windsheeters

Annual Golf Day | EisnerAmper Ireland | Financial Services

Dave Carroll in action

Annual Golf Day | EisnerAmper Ireland | Financial Services

Team 9 (L to R: Jonathan Webster, Cafico, Gerry Webster, Standard Life, Ruth Patterson, INED & Brian Lehane, Pobal)

Annual Golf Day | EisnerAmper Ireland | Financial Services

Derek Maltby in action

Annual Golf Day | EisnerAmper Ireland | Financial Services

Team 7 (L to R: Ian Duncan, Shane Mooney, Richard Larkin, & Des O’Donohoe, Fund Recs)

Annual Golf Day | EisnerAmper Ireland | Financial Services

Damian McAree in action

Annual Golf Day | EisnerAmper Ireland | Financial Services

Team 1 (L to R: Christian Currivan, INED, Diarmaid O’Keeffe, EAI, Rodney O’Rourke, Cafico & Fergal Moloney, Apex)

Annual Golf Day | EisnerAmper Ireland | Financial Services

Team 14 (L to R: Peter Brophy, INED, Aidan Cassells, Ivernia, Aengus Cummins, INED & Eoin Byrne, Everest)

Annual Golf Day | EisnerAmper Ireland | Financial Services

Team 12 (L to R: Gary Morrissey, Invesco, Des Fullam, Carne, Matthew Tracey, DMS & Brian Groves, Intertrust)

Annual Golf Day | EisnerAmper Ireland | Financial Services

Team 13 (L to R: Declan Farrell, Greenlight, Cian Collins, EAI, Michael Brady, AGF & Jim Kelly, INED)

At EisnerAmper, we design business & compliance solutions to make trade happen.

Domestic and international businesses face significant regulatory, economic and financial challenges while the rise of FinTech, RegTech and other solutions present new opportunities. Successfully managing these challenges, while optimising opportunities, requires specialist expertise and innovative solutions. Should you have any needs in this regard, we’d be happy to assist – please contact Gavin Lee.

Contact Gavin Lee

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15.8.2019

EisnerAmper Ireland’s Blood Donation with the Irish Blood Transfusion Service

Blood Donation | Irish Blood Transfusion Service | CSR | EisnerAmper Ireland

On Wednesday 14 August 2019, a number of EisnerAmper Ireland staff members visited the Irish Blood Transfusion Service in their Stillorgan clinic to donate blood. We were delighted to be able to donate and help such an important cause. Staff members were offered a ‘work ferry service‘ between our office and the clinic to attend their donation session, organised by the Stillorgan clinic.

It is vital to donate blood as 1 in 4 people will need a blood transfusion at some stage in their lives and only 3% of the eligible Irish population are currently giving blood. One donation is capable of saving up to three lives and you are able to donate every 3 months.

The shelf life of blood is only 35 days and 3,000 units of blood is needed each week so consider donating blood today, find out if you are eligible here.

EisnerAmper Ireland, we deliver solutions to support our community.

Corporate Social Responsibility (CSR) is integral to how we do business and manage interactions, not just with our employees and clients but also our wider community and society as a whole.  As a professional services firm, demonstrating ethical high performance in all aspects of our work and how we run our firm is fundamental to our success.  Learn more about our CSR policy here and our CSR initiatives here.

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12.8.2019

Tips and Gratuities – Payroll Considerations and Legislation Changes

Tips and Gratuities Payroll Considerations and Legislation Changes Image

What Are Tips And Gratuities?

Tips and gratuities have been defined as ‘money exchanged from customer to service provider which is not legally required by the agreement for purchase of the service’ (Casey, 1998, as cited in LPC NO. 10, 2018). Generally speaking, they are relatively low value payments given by customers to workers in the service and hospitality industries in excess of the fee due for the transaction which has taken place.  The frequency and value of such payments is entirely up to the customer.

Current Practices In Relation To Tips And Gratuities

Tips and gratuities are not specifically covered under the Payment of Wages Act 1991, however the Revenue Tax & Duty Manual Part 42-04-35A states that tips ‘paid to the employer and subsequently paid out to an employee should be included in pay for the income tax week or month in which they are paid out.’  This means that tips and gratuities paid to the employer and subsequently paid to the employee should be considered as pay for PAYE purposes and taxed accordingly, although the National Minimum Wage Act 2000 prevents employers from including these payments in the calculation of the National Minimum Wage.  A service charge included as part of the bill should also be taxed as pay if it is paid out to an employee, but unlike tips, these payments can be included in the calculation of minimum wage.

From a wider taxation point of view, it’s worth pointing out that a service charge which is shown on the bill is subject to VAT at the reduced rate of 13.5%, however, tips and gratuities offered voluntarily by the customer are outside of the scope of VAT.

Tips And GratuitiesCurrent Issues

Currently there is no legislation which obliges employers to pass on any tips received by them to their staff, therefore a customer has no way of knowing if the tip they left was actually given to the intended recipient(s) and the worker has no protection if their employer chooses to keep some or all of the tips left by customers.

Tips and Gratuity Payroll Image | Payroll Services Insights

Proposed New Measures In Relation To Tips And Gratuities

Proposed new measures announced by the Minister for Employment Affairs and Social Protection, Regina Doherty TD, aimed at ensuring employees receive the tips due to them and providing protections for low paid workers, are expected to include the following:

  • The Payment of Wages Act 1991 will be amended to ensure that tips and gratuities cannot be used to make up contractual rates of pay; and
  • Employers will be obliged to clearly display their policy on how tips, gratuities and service charges are distributed.

Source: welfare.ie.

When Will The New Tips And Gratuities Measures Be Implemented?

It is currently unclear as to how soon the proposed measures will be introduced, however there was an announcement on 8 July 2019 which stated that the Government has given approval on a draft Heads of a Bill to amend the Payment of Wages Act 1991, which allows the Minister’s Department to draft the required legislation.

How EisnerAmper Ireland Can Help

At EisnerAmper Ireland, our dedicated team of Tax professionals possess the knowledge and experience required to provide guidance and the intelligent solutions you need when either setting up, or running a business, in Ireland.  We tailor our offering to your needs, ensuring you receive the best advice at the appropriate time.

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Authors

The content above is provided for general information purposes only and is not intended to provide, nor does it constitute, professional advice on any particular matter. If you would like more information or would like to discuss any of the topics raised above, please contact the author(s).

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9.8.2019

EisnerAmper Ireland hosts guests at the Dublin Horse Show 2019

Dublin Horse Show | Ladies Day | EisnerAmper Ireland | Financial Services

On Thursday, 8 August 2019,  EisnerAmper Ireland hosted a table at Ladies’ Day at the Dublin Horse Show in the RDS.

Jennifer Kelly, Partner and Head of Outsourcing, and Cormac Doyle, Partner and Head of Tax, were joined by clients and contacts of the Firm.

The day was centred around the national and international show jumping competitions and guests enjoyed lunch in the main arena with a super view of the festivities. The event was a great opportunity to enjoy a pleasant afternoon and meet colleagues from the industry.

Dublin Horse Show | Ladies Day | EisnerAmper Ireland | Financial Services

At EisnerAmper, we design business & compliance solutions to make trade happen.

Our dedicated International Business & Tax teams advise global technology and life sciences businesses, financial institutions and their advisors on internationalisation. Our approach is to look at the client through the prism of their business model and vision, and to provide them with the local knowledge, ideas and support necessary to facilitate their European international trade planning and execution. In this regard, if we can assist you or your business in any way, please contact Jennifer Kelly or Cormac Doyle.

Contact Jennifer Kelly

Contact Cormac Doyle

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30.7.2019

EisnerAmper Ireland Credit Union Head of Finance Certificate – 2019 Graduation

Credit Union Head of Finance Course graduation 2019 | Financial Services | EisnerAmper Ireland

On Thursday 18 July 2019, EisnerAmper Ireland held a graduation ceremony for its Credit Union Head of Finance course graduates.

Frank Keane, Partner and Head of EisnerAmper Ireland’s Training & Consulting team provided a course comprised of 6 x 3-hour sessions delivered over a 9-week period in March – May held in Chartered Accountants House. The course was tailored to the needs of Credit Union Head of Finance role holders in the current regulatory environment. As part of the Central Bank of Ireland’s increased focus on the strategic capabilities of Credit Unions (CU’s) and their management, the role of CU Head of Finance is now subject to more intensive regulatory supervision. Consequently, the CU Head of Finance is expected to have a high level of knowledge and skills to perform their tasks and demonstrate their development. This course has been specially designed to develop and consolidate the competencies of a Credit Union Head of Finance.

The aim of the course was not only to provide Heads of Finance with a comprehensive understanding of the current regulatory context within Credit Unions, but also to create a community for ongoing peer learning facilitated by EisnerAmper.

At EisnerAmper, we design business & compliance solutions to make trade happen.

We provide Training & Consulting services to clients including government departments, regulatory authorities, banks, asset management firms, insurance companies, credit unions, professional bodies, educational institutions and leading law firms. For more information, visit our Training & Consulting page or contact Frank Keane.

Contact Frank Keane

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19.7.2019

Management Development Programme – July 2019 Workshop

Management Development Programme - July 2019 Workshop

As part of our Management Development Programme, EisnerAmper Ireland welcomed James Muldowney, an experienced leader in international advisory services, commercial strategy, corporate development and M&A, who delivered a highly relevant and insightful workshop for our participants.

As a graduate of University College Dublin and Harvard Business School, James has 25 years’ international experience, holding leadership positions with McKinsey & Co Inc, General Electric, C&C Group PLC and Irelandia Aviation.

Over the course of the session, we learned about James’ approach to, and experience of, developing and implementing growth strategies for some of the world’s leading companies.

James focused primarily on two growth strategy frameworks – ‘Staircases for Growth’ and ‘Rolling Back the Years’ – models which he frequently uses when advising clients on the development and implementation of their corporate strategies.

We also got some invaluable insight into James’ experience of working with McKinsey and General Electric, which added some very interesting colour to the session.

We care about business and we care about the people we work with in business.

EisnerAmper Ireland has a world-class focus on personal growth and development. We recognise that our people and our skills are key to EisnerAmper Ireland achieving our vision of being recognised as Ireland’s leading professional services firm and our approach to education and training reflects this.

Learn more about our approach to personal and professional development and get current EisnerAmper Ireland job opportunities, here.

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