Dear Chair Letter – 3rd November
On 3 November 2021, the Central Bank of Ireland (“CBI”) issued a letter to Chairs and CEOs of Regulated Financial Service Providers (“RFSPs”) on climate and ESG issues.
The letter highlights the statutory obligations of RFSPs and related supervisory expectations relating to climate and sustainability issues.
The letter notes that climate change should be seen as a strategic priority, emphasising the need for RFSPs to lead and drive ESG agendas within their organisations.
Firms should be able to establish demonstrable plans within the following five key areas:
- Governance: Boards need to take ownership of climate risks affecting the firm and promote a culture that places emphasis on ESG issues.
- Risk Management Framework: Firms need to enhance their existing risk management frameworks to ensure robust climate risk identification, measurement, monitoring and mitigation.
- Scenario Analysis: Firms need to perform scenario analysis and stress testing to assess the impact of potential future climate outcomes.
- Strategy and business model risk: Firms are expected to undertake business model analysis to determine the impacts of climate risks and opportunities on the firm’s overall risk profile, business strategy, and to inform strategic planning.
- Disclosures: Firms should adopt practices which ensure transparent disclosure of ESG issues to consumers and investors, without engaging in the practice of ‘greenwashing’.
These expectations can be applied by RFSPs in a proportionate manner, aligned to the nature, scale and complexity of the organisation. While the letter recognises that the expectations are not prescriptive or binding, the CBI will keep a keen focus on the development of sustainable finance and individual organisations’ roles in achieving this.
How EisnerAmper Ireland can help
Our initial feedback from talking to our clients is that this letter has been well received. Notwithstanding that for many sectors, exact ESG requirements are still to be determined, this letter provides a helpful roadmap summarising the key areas where demonstrable plans should be in place. These expectations also help affirm and shape the roadmap for climate change and sustainability plans that we are assisting our clients with.
Our multidisciplinary team is on hand to help you chart your ESG journey. We help organisations navigate the ESG landscape and understand the applicable legislation and frameworks.
Contact Us
Learn more about our ESG Services here.
Link to the Dear CEO Letter here.
Authors
Team EisnerAmper supports Run in the Dark 2021
On 17 November 2021, EisnerAmper Ireland staff members joined thousands of runners to partake in the virtual Run in the Dark which supports ongoing research to find a cure for paralysis.
This is the fifth consecutive year ‘Team EisnerAmper’ has participated in Run in the Dark. This year’s event was held in a virtual setting similar to last year. Following the impact of Covid-19, Run in the Dark created an app to allow participants to run safely within their own area, but to still virtually join thousands of others walking or running 5k and 10k around the world.
Run in the Dark is the main fundraiser for the Mark Pollock Trust which is aiming to find a cure paralysis in our lifetime. Unbroken by blindness in 1998, adventure athlete Mark Pollock was left paralysed in 2010. Now, with the team at the Mark Pollock Trust, he is exploring the intersection where humans and technology collide, catalysing collaborations that have never been done before and in doing so unlocking $1 billion to cure paralysis in our lifetime.
At EisnerAmper Ireland, we design 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.
Contact Us
Latest News →
EisnerAmper supports Insurance Ireland fourth INED Forum of 2021
EisnerAmper Ireland, in conjunction with Insurance Ireland, was delighted to host the fourth and final INED Forum of 2021.
The webinar focused on ‘Innovation for INEDs’ and looked at two key areas; InsurTech and Innovation in the Boardroom, and the significance of these topics for INEDs and their Boards. Frank Keane, Partner and Head of Client Internationalisation at EisnerAmper Ireland, moderated the event. We would like to thank our two sets of panellists for their insightful contributions:
Panel one:
- Moyagh Murdock, CEO, Insurance Ireland;
- Matthias Naumann, CEO, Companjon;
- Gerry Hassett, INED, New Ireland;
- Gary Leyden, InsTech.ie; and
- Ursula Murphy, Chief Transformation Officer, Allianz.
Panel two:
- Alan Holmes, INED, Allianz/DeCare Dental;
- Sylvia Cronin, INED, Canada Life, FBD Insurance;
- Susan Gibson, Chief Digital and Innovation Officer, Irish Life; and
- Pat O’Brien, CEO, Greenlight Re.
Many thanks also to the participants who joined yesterday’s webinar and who contributed to our panel discussions.
We deliver specialist Insurance Regulatory Compliance Services to help you meet your regulatory compliance and corporate governance requirements.
At EisnerAmper, we design and deliver specialist Services and Solutions for Business in the areas of Governance, Risk and Compliance. In this regard, if we can assist you or your business in any way, please do get in touch – we’d be delighted to help.
Contact Us
Latest News →The EisnerAmper Ireland Academy 2021
The EisnerAmper Ireland Academy 2021, the Firm’s annual all-staff training programme, was held today for the tenth year running. The Academy is a key part of our Firm’s all-staff training programme and is specifically designed for our professionals to accelerate their “on the job” learning and to facilitate their journey towards becoming not just great accountants but exceptional advisers and practitioners.
The theme for this year’s Academy was ‘Innovation & Transformation’ and included workshops, key-note speakers and team building exercises reaffirming our commitment to achieving and maintaining excellence in everything we do. Team building exercises encouraged our staff to innovate, collaborate and develop their design thinking skills in a changing world.
We would like to thank our guest speakers for their insightful contributions:
- Ron Immink, Entrepreneur, Author, Thought Leader
- Jay Weinstein, Vice Chair, Eisner Advisory Group LLC, Partner, EisnerAmper LLP
- Peter Cogan, Managing Partner, Eisner Advisory Group LLC, Partner, EisnerAmper LLP
- Arvind Kumar, Managing Director, Eisner Advisory Group LLC
- Clodagh Byrne, Head of Operations & Finance, FinReg Global Solutions
- Kilian Doyle, Head of Consulting, FinReg Global Solutions
Special thanks also to our EisnerAmper Ireland colleagues for their insightful contributions:
- Alastair MacDonald, Managing Partner
- Carina Myles, Partner, Risk & Regulatory
- Pat Cloran, Partner, Head of Risk & Quality
- Aileen MacDonagh, Senior Manager, Advisory
- Paul MacCarthy, Director, Head of Operations
- Joey Halligan, Manager, Advisory
As we continue to adapt to our changing environment, today’s Academy was held virtually and will be followed by smaller in-person team building workshops over the coming weeks and a firm-wide virtual wrap up session in November. This year we also hosted our first Mid-Year Academy in July which was focused on ‘Collaboration for Great Teamwork & Effective Teams’ and laid the foundations for today’s insightful and informative event.
At EisnerAmper Ireland, we care about business and we care about the people we work with in business.
Our trainees are involved in all elements of practice management from day one. From the outset, trainees work closely with Partners and Senior Management to deliver services and solutions to our key markets. This approach facilitates our trainees getting hands-on experience while also developing the core awareness, knowledge, skills and confidence to succeed in their careers. To learn more about our trainee programme, click here.
Contact Us
EisnerAmper Ireland Supports Charity Cycle from Malin Head to Mizen Head
EisnerAmper Ireland’s CSR Team was delighted to sponsor our colleague, Peter Buckley’s charity cycle from Malin Head to Mizen Head in aid of Barretstown Children’s Charity and the Children’s Health Foundation.
The four day cycling trip started at Malin Head, with Peter and three of his friends, William Tallon, Martin Hearns and Brian Daly cycling 162km to Bundoran. On day two, the group cycled 173km to Athenry, Co. Galway. With some much needed rest and recuperation time in between, day three saw Peter cycle 213km to Kanturk. The final stretch of the journey was on day four with a 145km cycle to Mizen Head. The group have raised €19,468 to date.
Barretstown offers free, specially designed camps and programmes for children and their families living with serious illness – supported behind the scenes by 24 hour on-site medical and nursing care. Children’s Health Foundation raises funds with the help and generosity of supporters across Ireland and beyond, and provides urgent funding where it is needed most across Children’s Health Ireland (CHI) – from funding essential equipment and patient and parental supports to making new services and ground-breaking paediatric research possible. Children’s Health Foundation is committed to supporting CHI hospitals and urgent care centres in Temple Street, Connolly, Crumlin and Tallaght.
EisnerAmper Ireland were delighted to sponsor Peter for his amazing charity cycle.
To make a donation to Peter’s GoFundMe page, click here.
At EisnerAmper Ireland, we care about business and we care about the people we work with in business.
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.
Contact Us
Latest News →
EisnerAmper Ireland Sponsors Team in The Fionn Brogan Trust Golf Classic
EisnerAmper Ireland’s CSR Team were delighted to sponsor a golf team and hole for The Fionn Brogan Trust in Killeen Castle recently.
Fionn Brogan is 5 years of age and was diagnosed with Duchenne Muscular Dystrophy (DMD) in 2019. The Fionn Brogan Trust has been established to collect and administer all funds raised for Fionn. The goal of the Trust and all fundraising is to be as proactive as possible in ensuring his family limit the inevitable barriers Fionn will face throughout his life, and to maximize his potential going forward.
EisnerAmper Ireland were delighted to sponsor such a worthy cause.
To find out more, or to make a donation to The Fionn Brogan Trust, click here.
At EisnerAmper Ireland, we care about business and we care about the people we work with in business.
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.
Contact Us
Latest News →
Gender Pay Gap
Gender Pay Gap Information Act 2021
In July 2021, the Gender Pay Gap Information Act (the “Act”) was signed into law. The Act amends the Employment Equality Act 1998 and sets out how certain organisations should report on gender pay gap differentials between female and male employees.
The Act requires that the Minister for Children, Equality, Disability, Integration and Youth make regulations on how certain gender pay gap metrics are to be calculated.
What is the Gender Pay Gap?
The gender pay gap is the difference in remuneration of men and women across a workforce. It compares the pay of all working men and women; not just those in similar jobs, with similar working pattern or with similar competencies, qualifications or experience.
In Ireland, the gender pay gap is c. 11.3% – slightly lower than the EU average of 14.1% (https://ec.europa.eu/eurostat/statistics-explained/index.php?title=Gender_pay_gap_statistics).
Requirements set out by the Act
Initially, the Act will apply to employers with 250 or more employees.
On or after the second anniversary of the regulations, employers with between 150 and 250 employees will be covered by the Act. Finally, on or after the third anniversary of the regulations, employers with between 50 and 150 employees will be covered.
All public sector bodies, (e.g.: Government Departments, Scheduled Offices, An Garda Síochána, the Defence Forces and schools) are included.
The information to be published by employers, as set out in the Act, is as follows:
- The mean and median gap in hourly pay between men and women;
- The mean and median gap in bonus pay between men and women;
- The mean and median gap in hourly pay of part-time male and female employees;
- The percentage of men and of women who received bonus pay; and
- The percentage of men and of women who received benefits in kind.
The Act also requires employers to provide explanations for any gender pay gaps and the measures (if any) that are being taken to eliminate or reduce the gender pay gap.
Ensure Gender Pay Gap Compliance
It is recommended that organisations start performing Gender Pay Gap calculations now. Organisations that understand their Gender Pay Gap metrics can make positive steps to be in a better position when reporting and publishing requirements become mandatory.
External Links:
The Bill: https://data.oireachtas.ie/ie/oireachtas/act/2021/20/eng/enacted/a2021.pdf.
How EisnerAmper Ireland can help
At EisnerAmper Ireland, our dedicated team of outsourced payroll and advisory professionals possess the tools and the expertise to analyse your payroll data and produce detailed reports highlighting the current gender pay gap in your organisation.
Contact Us
Learn more about our ESG Services here.
Authors
Congratulations to EisnerAmper Ireland’s FAE Students
Congratulations to EisnerAmper Ireland’s trainees who successfully passed Chartered Accountants Ireland’s Final Admitting Exam (FAE) and are now exam qualified.
Special congratulations to Andrew Brady, a member of EisnerAmper Ireland’s Audit team, who achieved 6th place as a prize winner in the overall Summer FAE results sitting 2021 – an amazing achievement for both Andrew and our Firm. These results are proof, not only of the extensive hard work our trainees put into achieving their qualification, but also of the dedication that EisnerAmper Ireland puts into supporting, coaching and training all staff members.
This coaching and training is unrivalled and includes bespoke training sessions, firm-wide briefing sessions and twice yearly off-site and virtual training programmes. We value education, not just qualifications. Members of our team have lectured on FAE and CAP 2 programmes, have acted as External Examiners, correct mock papers, sit on education boards and write accounting books, giving our trainees access to some of the leading professionals in the industry.
To find out more about qualifying with EisnerAmper Ireland, click here.
We care about business and we care about the people we work with in business.
Our trainees are involved in all elements of practice management from day one. From the outset, trainees work closely with Partners and Senior Management to deliver services and solutions to our key markets. This approach facilitates our trainees getting hands-on experience while also developing the core awareness, knowledge, skills and confidence to succeed in their careers. To learn more about our trainee programme, click here.
Latest News →EisnerAmper supports Insurance Ireland third INED Forum of 2021
EisnerAmper Ireland, in conjunction with Insurance Ireland, was delighted to host the third INED Forum of 2021 this afternoon.
The webinar focused on ‘Using Internal Audit As Partners In Governance’. Frank Keane, Partner and Head of Client Internationalisation at EisnerAmper Ireland, moderated the event. We would like to thank Jacqueline Thornton, Manager of EU and Domestic Regulatory Affairs and Company Secretary at Insurance Ireland for setting the scene, and our panellists for their insightful contributions:
- Ronan Murphy – Partner and Head of Internal Audit, EisnerAmper Ireland; shared his expertise by providing an overview of internal audit and what it looks like in implementation in addition to covering where it stands in an organisation and within its relationship with various stakeholders; and
- Conor Molloy – Board Chair and Insurance INED; who took part in a conversation piece with Moderator Frank Keane and explored the topic of “Using Internal Audit as Partners in Governance” from the perspective of an INED.
Many thanks also to the participants who joined today’s webinar and who contributed to our very interesting Q&A session.
We deliver specialist Insurance Regulatory Compliance Services to help you meet your regulatory compliance and corporate governance requirements.
At EisnerAmper, we design and deliver specialist Services and Solutions for Business in the areas of Governance, Risk and Compliance. In this regard, if we can assist you or your business in any way, please do get in touch – we’d be delighted to help.
Contact Us
Latest News →Case Study – Sustainable Finance Disclosure Regulation (SFDR)
EisnerAmper Ireland (EAI) assisted an Investment Management client who provided both Portfolio Management and Investment Advisory services. The Company is a subsidiary of a large financial services group headquartered in Germany.
The Company was required to draft disclosures based on the Sustainable Finance Disclosure Regulation (SFDR) requirements. The SFDR imposes mandatory ESG disclosure obligations for asset managers and other financial markets participants.
Tom Brennan, Head of Risk & Regulatory at EisnerAmper, examined the arrangements in place at the time for the Company’s investment decision making process. EisnerAmper worked with other members of the group and the parent company to ensure that policies and procedures in place were consistent throughout and that they reflected socially responsible practices.
The Company signed up to the UN Principles for Responsible Investment (UNPRI), an international organisation that works to promote the incorporation of environmental, social, and corporate governance factors (ESG) into investment decision-making
The Company also signed the United Nations Principles for Sustainable Insurance (PSI), further embedding ESG in its insurance business.
EisnerAmper helped to draft the Company’s SFDR disclosure policy, ensuring they:
- published information on their strategies for integrating sustainability risks in their investment decision-making processes and investment advisory activities on their websites; and
- made statements on due diligence strategies related to the main adverse sustainability impacts of investment decisions on sustainability factors.
Through this process and from working closely with Tom and his team, the Company completed a robust process to gather the required information to make the disclosures required under SFDR. In examining their business practices and holding them against the SFDR requirements, they were able to form a roadmap to where the Company needs to be in the future and how to assess investments for ESG compliance.
How EisnerAmper Ireland can help
Our multidisciplinary team is on hand to help you chart your ESG journey. We help you navigate the ESG landscape and understand the applicable legislation and frameworks. We also help drive change within your organisation so that sustainability becomes embedded within your strategy, operations and reporting.
Our ESG services typically include:
- Developing and documenting a roadmap to achieve demonstrable ESG compliance;
- Provision of assurance over ESG information included in annual reports or other published documents;
- Undertaking gap analysis of ESG disclosures;
- Designing and delivering Board training on ESG topics, standards and requirements; and
- Provision of tools to assist you in demonstrating compliance with ESG requirements.
Learn more about our ESG Services here.
Authors
EisnerAmper LLP Announces Investment By TowerBrook Capital Partners
EisnerAmper LLP, the US member firm of EisnerAmper Global, has announced that TowerBrook Capital Partners (“TowerBrook”), an international investment management firm, has made a strategic investment in EisnerAmper LLP.
TowerBrook’s significant capital infusion will help drive EisnerAmper LLP’s long-term growth initiatives, which include accelerating the evolution of service offerings, investing considerably in talent and technology, and strategically expanding via organic growth and targeted mergers and acquisitions — all directed at exponentially enhancing client service. EisnerAmper LLP’s leadership teams will remain unchanged.
EisnerAmper LLP and EisnerAmper Ireland are founding members of EisnerAmper Global, a specialist network of independent member firms operating via global financial services and international trading hubs. This strategic investment in EisnerAmper LLP is welcomed by the EisnerAmper Global board and by EisnerAmper Ireland. It will significantly strengthen the collective capabilities of EisnerAmper Global member firms. EisnerAmper Ireland looks forward to continuing to work successfully with EisnerAmper Global member firms designing and delivering services and technology solutions to clients and to our communities.
About TowerBrook Capital Partners
TowerBrook Capital Partners L.P. is an investment management firm that has raised in excess of $17.4 billion to date and has a history of creating value for investors. The firm is co-headquartered in New York and London and focuses on making investments in companies headquartered in North America and Europe. TowerBrook’s private equity strategy primarily pursues control-oriented investments in large and mid-market companies, principally on a proprietary basis and often in situations characterized by complexity. TowerBrook’s structured opportunities strategy allows access to a broad array of opportunities, principally via structured asset and structured equity investments, enabling investment companies to access funding and expertise to support growth without ceding control. TowerBrook is a certified B Corporation. B Corporation certification is administered by the non-profit B Lab organization and is awarded to companies that demonstrate leadership in their commitment to environmental, social and governance (“ESG”) standards and responsible business practices. For more information, please visit towerbrook.com.
About EisnerAmper
EisnerAmper, one of the largest business consulting firms in the world, is comprised of EisnerAmper LLP, a licensed independent CPA firm that provides client attest services; and Eisner Advisory Group LLC, an alternative practice structure that provides business advisory and non-attest services in accordance with all applicable laws, regulations, standards and codes of conduct. Clients are in all business sectors and leverage a complete menu of service offerings. Our combined entities include more than 200 partners and principals and 2,000-plus employees. For more information, please visit eisneramper.com.
Latest News →New Partner Appointment at EisnerAmper Ireland
We are delighted to announce the appointment of Carina Myles as Partner in our Governance, Risk & Compliance Group.
Carina’s appointment represents a further strengthening of our specialist accounting, tax and risk & regulatory teams advising the Financial Services, International Business and Government sectors.
As Partner in our Governance, Risk & Compliance Group, Carina advises financial services providers on risk, regulatory and compliance related matters. Carina supports clients throughout the regulatory engagement lifecycle and specialises in the design and implementation of risk and compliance frameworks. Carina also provides outsourced solutions to operationalise risk and compliance functions.
Carina has over 20 years’ experience designing and developing risk, compliance and control frameworks; leading regulatory change programs such as AIFMD; and leading large scale business transformation programs.
Carina joins us from Northern Trust where she held a number of senior leadership positions including Head of Business Change; Regulatory Compliance GDPR Lead; and Head of Operational Control & Compliance. Carina’s industry representation includes Chair of the Association of Compliance Officers in Ireland (ACOI) Funds Working Group and former Chair of Irish Funds GDPR Working Group.
Specialist services delivered by a market leading team
Carina’s appointment reflects our commitment to delivering market leading services and solutions through a combination of our specialist expertise, robust methodologies, innovative use of technology and global connectivity.
If you have any queries or if we can assist you in any way, please do not hesitate to contact Carina.
Contact Carina Myles
Latest News →- ←« Previous Page
- 1
- …
- 8
- 9
- 10
- 11
- 12
- …
- 39
- →Next Page »
