We have already reported on sustainability, what’s new?
The EU Corporate Sustainability Reporting Directive (CSRD) will require companies to publish a comprehensive Annual Sustainability Report, in accordance with the European Sustainability Reporting Standards issued by the European Financial Reporting Advisory Group (EFRAG), and obtain independent assurance on this report. This is a significant step up from the voluntary disclosures published by many companies to date – and a huge leap for companies publishing ESG information for the first time. Compared to voluntary disclosures, reporting under the new standards will provide:
- consistency;
- transparency; and
- verifiability.
The CSRD elevates sustainability reporting to the same level as financial reporting – companies will need to apply the same rigour to sustainability policies, measurements, analysis and disclosures. Boards will also need to exercise consistent governance over sustainability, financial and other operational reports.
Your new Annual Sustainability Report must:
- Be included in your annual report, together with an independent assurance report;
- Show how your business model is compatible with the objective of limiting global warming to 1.5 °C and achieving climate neutrality by 2050, based on the latest science;
- Describe your comprehensive double materiality assessment (sustainability risks to the business and the sustainability impacts of the business) and how you respond to the identified material risks; and
- Disclose historical and forward-looking information on specific quantitative and qualitative datapoints.
Now is the time to review your plans for sustainability reporting readiness.
At EisnerAmper we make sustainability simply sustainable.
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Learn more about our ESG Services here.
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International Women’s Day at EisnerAmper Ireland
We are delighted to be celebrating International Women’s Day in EisnerAmper Ireland. Special thanks to Caroline McDonnell, Chair and Independent Non-Executive Board Director and former Equity Partner at PwC, who joined us today. Caroline shared valuable insights from her own career journey in addition to highlighting the importance and benefits of gender diversity and inclusion.
Caroline McDonnell, Chair and Independent Non-Executive Board Director and former Equity Partner at PwC.
Caroline’s address was followed by a thought provoking and insightful panel discussion, facilitated by Gavin Lee, Director, and Danielle Markham, Assistant Manager. The panel which included Caroline McDonnell, Jennifer Kelly, Partner, Karen Maloney, Director, and Vitalija Mikutaite, Assistant Manager, shared insights from their own journeys in addition to sharing practical advice on career progression and having a healthy work/life balance.
L to R: Gavin Lee, Director and Head of International Trade, Caroline McDonnell, Karen Maloney, Director of Accounting & Compliance, Jennifer Kelly, Partner and Head of Accounting & Compliance, Vitalija Mikutaite, Assistant Manager in Audit and Danielle Markham, Assistant Manager in Tax.
International Women’s Day (IWD) is a global day celebrating the social, economic, cultural, and political achievements of women. The day also marks an important issue that is still very present within our modern society, the much needed acceleration of gender parity.
Alastair MacDonald, Managing Partner.
Our people are critical to our success and we strive to nurture and leverage the talent and unique ability of each individual member of our team. In this regard, we welcome all forms of diversity, and invite everyone to bring their full selves to work. Our Firm is focused on providing a happy, healthy and productive work environment and at EisnerAmper Ireland we pride ourselves on our world-class focus on personal growth and development.
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.
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Latest News →What is the Social part of ESG?
The Social part is concerned with the quality of the relationships between your business and all stakeholders, including employees, customers, suppliers and affected communities. The social disclosure requirements under the new Corporate Sustainability Reporting Directive (CSRD) are set out in 4 separate draft standards issued by EFRAG:
- Own workforce;
- Workers in the value chain;
- Affected communities; and
- Consumers and end-users.
These standards reflect the UN Guiding Principles on Business and Human Rights (UNG), the OECD Guidelines for Multinational Enterprises, and other internationally recognised principles and frameworks.
Businesses must perform a thorough assessment to identify (i) those areas where their actions have a material impact on stakeholders, and (ii) areas presenting material risks or opportunities to the business. For each identified material impact, risk or opportunity, businesses will need to disclose information on their policies, actions and metrics – for certain companies the standards require disclosures for high-impact areas regardless of materiality.
Workers
The standards require disclosure of processes to engage with own workforce and workers in the value chain and how their interests, views, rights and expectations inform the business’ strategy and business model. Potential material areas to be assessed include topics such as:
- working conditions;
- social partner involvement;
- channels to raise concerns (whistleblowing);
- collective bargaining;
- adequate wages;
- equality;
- non-discrimination;
- diversity and inclusion;
- work-life balance;
- human rights;
- gender pay gap; and
- people with disabilities
Communities
Companies have an impact on communities, either directly linked to the company’s own operations, products or services or through its business relationships. Disclosures should explain the approach to identify and manage any material actual or potential impacts on affected communities and processes for engaging with those communities. This includes time-bound and outcome-oriented targets for reducing negative impacts, advancing positive impacts, and managing material risks and opportunities related to affected communities.
Consumers and end-users
Companies must consider how their strategy and business model impacts consumers and end-users, including those in the downstream value chain – for example, providing products that harm if overused or sales-maximising incentives that put consumers at risk. Disclosures are aimed at enabling users to understand material impacts on consumers and end-users, as well as how dependencies on consumers and end-users may create material risks or opportunities for the company.
Far from being merely a compliance process, the social standards set out a blueprint for companies to create a sustainable workplace for all stakeholders while strengthening their business model.
This is the Social in ESG.
At EisnerAmper we make sustainability simply sustainable.
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Learn more about our ESG Services here.
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EisnerAmper supports LauraLynn’s Annual Heroes Ball
The EisnerAmper Ireland Team was delighted to support, and attend, LauraLynn’s Annual Heroes Ball.
The Charity Ball took place on Saturday, 4 March in the Mansion House, Dawson Street, Dublin. It was a special night to celebrate all the Heroes who come through the doors of LauraLynn Children’s Hospice. We are delighted to be partnering with LauraLynn as a Corporate Partner for the fourth year running, helping LauraLynn to support children with life-limiting conditions and their families to live as fulfilling lives as possible.
The Heroes Ball has become known as one of the most fun-filled charity balls in the calendar. The Ball, which was hosted by Miriam O’Callaghan, included a gala dinner and drinks along with entertainment from Perfect Day. The night also included a Charity Auction hosted by Alan Shortt with prizes including art, holidays, and personal training sessions.
LauraLynn Children’s Hospice’s mission is to provide a Community of Care that delivers evidence-based, personalised services to children with palliative care needs, complex care needs and complex disabilities, while also providing family support services and a home to their residents where quality-of-life is paramount.
To learn more about LauraLynn or to make a donation, please 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 →Does Sustainability Reporting impact Business Conduct?
Definitely. Under the new EU Corporate Sustainability Reporting Directive (CSRD), companies must disclose information on business conduct matters, including:
- corporate culture;
- relationships with suppliers;
- avoiding corruption and bribery;
- protection of whistle-blowers;
- animal welfare; and
- payment practices
These requirements are set out in the (draft) European Sustainability Reporting Standard G1 – Business Conduct. Companies must describe the role and the expertise of administrative, management and supervisory bodies, and the process to identify and assess material impacts, risks and opportunities arising from business conduct matters.
Preparing meaningful disclosures under the Business Conduct standard will require companies to re-examine how they conduct business at the deepest level. Boards and Executives will need to embrace sustainability by adopting transparent business practices aligned with the global frameworks embodied in the standard. Adopting these business practices will benefit your business and all stakeholders. Putting your head in the sand is not an option.
At EisnerAmper we make sustainability simply sustainable.
Contact Us
Learn more about our ESG Services here.
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EisnerAmper Ireland hosts Alumni Reunion 2023
On Thursday 23rd February, we were delighted to host our first EisnerAmper Alumni Reunion since 2019 in the Blue Room at the Dean Hotel. It was a fantastic evening and provided an opportunity for both current and former team members to catch up while enjoying delicious food and drinks in the heart of Dublin.
Alastair MacDonald, Managing Partner, welcomed our guests and emphasised the importance of our Alumni Community to EisnerAmper. It also provided an opportunity to update our Alumni on the Firm’s progress including the appointment of seven new Partners since 2019.
Included below is a selection of photos from the evening.
L to R: Alastair MacDonald, Tom Brennan, Yevgeniy Podkladnev and Audrey Rigley-Smyth
L to R: Hannah Willis, Thomas Territt, Sarah Ryan and Aideen Conneely
L to R: Maureen Smyth, Andrew Stokes, Jennifer Kelly and Brian Frawley
L to R: Hannah Willis, Liz Cahill and Kun Liu
L to R: Ian Wilson, Philip Bergin, David Marmion and Emma Guilfoyle
L to R: David Gaule, Dean Roche and David Marmion
We care about business and we care about the people we work with in business.
At EisnerAmper Ireland, our happy, healthy and productive team design and deliver sustainable services and solutions to make trade happen. For more information on our services, click here.
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Latest News →Is the European Green Deal a BIG DEAL for my business?
Yes, and here are a few reasons why –
The European Green Deal aims to decouple economic growth from resource use and ensure that all regions and Union citizens participate in a socially just transition to a sustainable economic system whereby no person and no place is left behind. This is addressed through several policy initiatives, including the Non-Financial Reporting Directive (NFRD), the Taxonomy Directive, the Sustainable Finance Reporting Directive (SFDR) and the Corporate Sustainability Directive (CSRD).
As part of the Green Deal initiative, the CSRD requires all in-scope companies to publish a comprehensive Annual Sustainability Report starting from 2024, including policies, business models, targets, actions and metrics, and how these are aligned with environment, social and governance objectives. This directive expands on the NFRD by bringing many more companies into scope and requiring more extensive disclosures. Companies will need to assess the impact of their actions on the environment, employees and communities in addition to considering the risks to their business from climate change and other external factors. This impact and risk assessment informs the policies, targets, actions and metrics to be disclosed.
But, transitioning to a sustainable business model also has direct benefits for your business:
- customers demand more sustainable products and services;
- employees want their work to be fair and positive for the environment;
- investors seek out opportunities to deploy their capital responsibly; and
- communities favour companies that care.
Preparing to tell a compelling and verifiable story in your first Annual Sustainability Report will shape your transition to a sustainable business model, and bring lasting benefits to your business and all stakeholders.
Going sustainable is simply good business.
At EisnerAmper we make sustainability simply sustainable.
Contact Us
Learn more about our ESG Services here.
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Already gone green, so what’s the fuss?
The fuss is that most businesses are only scratching the sustainability surface. The EU Corporate Sustainability Reporting Directive (CSRD) which was adopted by the European Council on 28 November 2022 is a game changer.
All EU companies that exceed any two of:
- 250 employees;
- €20 million turnover; or
- €40 million total assets,
will be required to publish a comprehensive Annual Sustainability Report, together with their 2025 Annual Financial Report. The Sustainability Report must comply with the European Sustainability Reporting Standards (ESRS) developed by the European Financial Reporting Advisory Group (EFRAG). The first set of draft standards includes 84 Disclosure Requirements across Environment, Social and Governance topics. These standards will be complemented by sector specific standards.
EU Commissioner Mairead McGuiness noted as hugely significant that, for the first time, the EU is putting sustainability reporting on an equal footing with financial reporting – “We need accurate and reliable information to ensure that investments are being made towards a more sustainable future. This is ground-breaking legislation.”
Businesses that transparently report sustainable policies, actions and metrics will attract investors, customers and employees, adding long-term value for all stakeholders.
At EisnerAmper we make sustainability simply sustainable.
How EisnerAmper Ireland can help
At EisnerAmper Ireland, we have the technical knowledge to simplify the complexity of your regulatory, compliance and reporting obligations, and the business experience to support your sustainability transformation. We apply our proven governance, risk, accounting and assurance methodologies to deliver practical and sustainable solutions, tailored for your business.
Our sustainability solutions and services enable you to:
- Understand how ESG impacts your business, workforce, customers, and community;
- Develop your sustainability goals, policies and relevant metrics;
- Map your current state to the regulatory requirements;
- Design action plans to remediate and enhance processes;
- Tell a compelling and verifiable story in your Sustainability Report;
- Prepare for independent assurance on your sustainability disclosures; and
- Embed sustainability in your continuous improvement business cycle.
If we can help you or your business in any way, please do get in touch – we’d be delighted to help.
Contact Us
Learn more about our ESG Services here.
Authors
Making Sustainability Simply Sustainable
The European Green Deal is a roadmap to making the EU’s economy sustainable by turning climate and environmental challenges into opportunities across all policy areas and making the transition fair and inclusive for all.
In implementing the Green Deal, the EU has introduced several new policy instruments, including the Corporate Sustainability Reporting Directive (CSRD), which will require companies in scope to disclose information on:
- risks and opportunities arising from social and environmental issues; and
- impacts of their activities on people and the environment.
This will help investors, civil society organisations, consumers and other stakeholders to evaluate the sustainability performance of companies, alongside their financial performance.
The CSRD extends the scope and reporting requirements of existing EU corporate reporting initiatives, such as the Non-Financial Reporting Directive (NFRD) and the Taxonomy Directive. The transition to a sustainable economy means that collecting and sharing reliable sustainability information is good business practice for companies of all sizes.
Transitioning to a sustainable business model will prepare you to tell a compelling and verifiable story in your Annual Sustainability Report, and deliver value for all stakeholders, making a difference for business, communities and the planet.
At EisnerAmper we make sustainability simply sustainable.
How EisnerAmper Ireland can help
At EisnerAmper Ireland, we have the technical knowledge to simplify the complexity of your regulatory, compliance and reporting obligations, and the business experience to support your sustainability transformation. We apply our proven governance, risk, accounting and assurance methodologies to deliver practical and sustainable solutions, tailored for your business.
Our sustainability solutions and services enable you to:
- Understand how ESG impacts your business, workforce, customers, and community;
- Develop your sustainability goals, policies and relevant metrics;
- Map your current state to the regulatory requirements;
- Design action plans to remediate and enhance processes;
- Tell a compelling and verifiable story in your Sustainability Report;
- Prepare for independent assurance on your sustainability disclosures; and
- Embed sustainability in your continuous improvement business cycle.
If we can help you or your business in any way, please do get in touch – we’d be delighted to help.
Contact Us
Learn more about our ESG Services here.
Authors
EisnerAmper joins LauraLynn for 150k in February Challenge
EisnerAmper Ireland is delighted to announce the continuation of our partnership with LauraLynn Children’s Hospice for the fourth year running. EisnerAmper’s partnership with LauraLynn helps the charity to support children with life-limiting conditions and their families to live as fulfilling lives as possible.
EisnerAmper is delighted to be participating in LauraLynn’s first fundraiser of 2023 – 150k in February Challenge. The charity initiative is running from 1 to 28 February and our team members have been set the task of either walking, jogging or running 150k over the course of the month while raising money for the charity through our group JustGiving page. As part of our happy, healthy and productive Firm, this challenge is the perfect opportunity to blow away the January cobwebs and for our team members to get together outside of the office and raise funds for such a worthy cause.
LauraLynn Children’s Hospice fundraises and supports children and families from all 26 counties with the aim of enhancing the quality of life for families in their care.
Learn more or donate 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 hosts Christmas Party and ‘Doing Great Work Awards’ for 2022
On Friday 16 December, EisnerAmper Ireland hosted its annual Christmas Party and our sixth Annual Employee Awards in Merrion Cricket Club, Donnybrook, Dublin 4.
The evening included a drinks reception and dinner, EisnerAmper Ireland’s annual ‘Doing Great Work Awards’, and music by our very own talented team members.
Some of our team members
The awards were presented to EisnerAmper Ireland’s team members who have demonstrated how they “love doing great work” in 2022. The winners were awarded a crystal plaque to celebrate their achievements by Frank Keane, Partner and Cian Collins, Partner. The areas staff were asked to vote on were “Quality”, “People”, “Operational Excellence” and “Design Thinking & Growth”, bringing to life the elements of our Firm’s Art of Practice. The winners for 2022 were:
- Quality & 5 DNA’s Award
- Patrick Garvey, Manager, Tax
- Vitalija Mikutaite, Supervisor, Audit
- People Award
- Dylan O’Neill, Supervisor, Audit
- Julia Leppek, Trainee, Internal Audit
- Operational Excellence Award
- Shannon Walsh, Trainee, Tax
- Robert Beverland, Assistant Manager, Accounting & Compliance
- Design Thinking & Growth Award
- Leonie Delaney, Semi Senior, Solutions & Audit
- Daniel Millar, Semi Senior, Accounting & Compliance
Some of our ‘Doing Great Work Awards’ winners
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 →New Partner Appointment at EisnerAmper Ireland
We are delighted to announce the expansion of our leadership team with our appointment of Peter MacDonald as Audit and ESG Advisory Partner.
Peter’s appointment represents a further strengthening of our teams advising the Financial Services, International Business and Government sectors while adding significant experience and expertise to our Partner group and our team of specialist accountants, tax advisors and risk & regulatory experts.
As ESG Advisory Partner, Peter leads our ESG compliance and reporting services and advises clients on embedding ESG and sustainability within their strategy, operations and reporting. As Audit Partner, Peter provides audit services to leading Irish corporates and international companies doing business in and through Ireland.
With 30 years audit and advisory leadership experience, Peter served as partner with the Big 4 in Ireland and internationally. Peter’s experience includes leadership risk and quality roles, in addition to senior partner on the audit of international banks, central banks, insurers, lessors, asset management entities and other listed and regulated entities.
Specialist services delivered by a market leading team
Peter’s appointment reflects EisnerAmper’s strategy to deliver market leading services and solutions through a combination of specialist expertise, robust methodologies, innovative use of technology and a globally connected team.
If you have any queries or if we can assist you in any way, please do not hesitate to contact Peter.
Contact Peter MacDonald
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