EisnerAmper Supports Ukraine
EisnerAmper was delighted to help support Ukraine and its people by organising a staff fundraiser quiz in aid of The Red Cross appeal. As a continued means of support, we have made, and will continue to make, financial donations to aid agencies operating in Ukraine.
The quiz was held in our office and following the quiz, a raffle was held with prizes kindly donated by the local Sandyford business community including Freshii, Haven Pharmacy, The Lep Inn and Ranchero Taqueria. We are proud to have raised over €1,000 which will be donated to the Irish Red Cross in aid of Ukraine.
To learn more about how to help 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.
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Latest News →Gender Pay Gap Reporting Ireland – Regulations Published
On 3 June 2022, the Minister for Children, Equality, Disability, Integration and Youth published the long-awaited Employment Equality Act 1998 (section 20A) (Gender Pay Gap Information) Regulations 2022 (“the Regulations”).
The Regulations provide the underlying obligations and calculation details for the Gender Pay Gap Information Act 2021 (“the Act”) which was signed into law in July 2021. The Act requires organisations to report on their hourly gender pay gap across a range of metrics.
The Regulations provide vital definitions, such as those for ‘allowance’, ‘relevant date’, ‘relevant pay period’, and ‘working hours’.
The Regulations set out how to calculate Hourly Remuneration, Total Number of Working Hours, Bonus Remuneration, as well as setting out details on the format of publication of results by employers.
What we know
Initially, organisations with 250+ employees will be required to report their Gender Pay Gap metrics for the first time in 2022.
Organisations should select their relevant date (i.e. snapshot date) in the month of June. Calculations should be prepared based on relevant employees on this date and reported no later than six months after this date, in December 2022.
Organisations are required to report the following figures:
- 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 mean and median gap in hourly pay of male and female employees on temporary contracts;
- The percentage of men and women who received bonus pay;
- The percentage of men and women who received benefits in kind; and
- The percentages of male and female employees who fall within each of:
- the lower remuneration quartile pay band;
- the lower middle remuneration quartile pay band;
- the upper middle remuneration quartile pay band; and
- the upper remuneration quartile pay band.
The report should also include:
(i) the reasons for any differences; and
(ii) the measures (if any) being taken, or proposed to be taken, by the employer to eliminate or reduce these differences.
The gender pay gap information should be published on the organisation’s website or in some other way that is accessible to all of its employees and to the public.
Ensure Gender Pay Gap Reporting Compliance
While reporting will be mandatory for employers with 250 or more employees initially, by 2024 this threshold will decrease to 150+ employees and in 2025 will decrease further to 50+ employees.
It is recommended that all 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 applicable.
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.
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
Carina Myles
Partner Governance, Risk & Compliance
Carmanhall Road
Sandyford
Dublin, D18 CA22
Ireland
Sustainable Finance: Update on the Application of the Sustainable Finance Disclosure Regulation (“SFDR”)
The Sustainable Finance Disclosure Regulation (“SFDR”) sets out sustainability-related disclosure requirements for financial market participants and financial advisers. Its aim is to improve the transparency and comparability of sustainability-related disclosures for end investors, and to reduce the occurrence of adverse sustainability impacts of investment decisions and greenwashing.
The SFDR and related Regulatory Technical Standards which specify the required content and presentation of information to be disclosed are part of a broader range of European Commission (“EC”) initiatives on sustainable development.
On 6 April 2022, the EC published the final version of the Regulatory Technical Standards (“RTS”) under the SFDR.
The RTS contain the final prescribed-form templates for:
- Annex I: The statement for presenting key performance indicators under the principal adverse impacts regime.
- Annex II: Pre-contractual disclosures for the financial products referred to in Article 8 of the SFDR – i.e. a financial product which promotes, among other characteristics, environmental or social characteristics, or a combination of those characteristics, provided that the companies in which the investments are made follow good governance practices.
- Annex III: Pre-contractual disclosures for the financial products referred to in Article 9 of the SFDR – i.e. a financial product which has sustainable investment or a reduction in carbon emissions as its objective.
- Annex IV: Periodic disclosure for the financial products referred to in Article 8.
- Annex V: Periodic disclosure for the financial products referred to in Article 9.
Financial market participants and financial advisers should now familiarise themselves with the mandatory reporting templates for pre-contractual and periodic disclosures as well as the Principal Adverse Sustainability Impacts Statement in order to be in a position to make these disclosures from the application date – i.e. 1 January 2023.
How EisnerAmper Ireland can help
As Partner in EisnerAmper’s Governance, Risk & Compliance Group, Carina Myles advises financial service providers on risk, regulatory and compliance-related matters. EisnerAmper’s specialist services include:
- Supporting organisations through regulatory change;
- Provision of bespoke board support and training;
- Designing and developing integrated risk and compliance frameworks;
- Preparing compliance briefings for discussion with the board; and
- Supporting the board in responding to and implementing any changes required relating to evolving needs.
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
Carina Myles
Partner Governance, Risk & Compliance
Carmanhall Road
Sandyford
Dublin, D18 CA22
Ireland
EisnerAmper Supports Ukraine
We are shocked by and condemn the senseless and illegal invasion of Ukraine by the government of the Russian Federation. Lives are being devasted by violence, displacement, trauma, insecurity and separation from loved ones. Thousands of families are being forcibly displaced or have had their homes destroyed and thousands more are fleeing in search of safety.
As a means of supporting and showing solidarity with Ukraine and its people, we have made, and will continue to make, financial donations to aid agencies operating in Ukraine. Additionally, our Firm’s CSR Committee is organising fundraising and awareness events. Our CSR Team has also set up a donation area in our office for members of our team to donate supplies to the people of Ukraine in need.
To learn more about how to help 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 →EisnerAmper supports LauraLynn’s Annual Heroes Ball
The EisnerAmper Ireland Team was delighted to support, and attend, LauraLynn’s annual Heroes Ball last weekend.
The Charity Ball took place on Saturday, 7 May in the Clayton Hotel, Burlington Road in Dublin. We are delighted to be partnering with LauraLynn Children’s Hospice as a Corporate Partner for the third 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 and entertainment by Riverdance and Perfect Day. The night also included a Charity Auction hosted by Alan Shortt with a signed guitar from Hozier and a cruise amongst some of the prizes.
Riverdance performance
LauraLynn Children’s Hospice 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.
Group image credit: Brian McEvoy
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 Mid-Year Academy 2022
The EisnerAmper Ireland Academy is a key part of our Firm’s all-staff training programme which was held for the eleventh year running yesterday. The Academy 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.
We were delighted to host this year’s Academy in person for the first time since 2019 in the Herbert Park Hotel, Ballsbridge, followed by dinner in House Dublin. David Carroll, Associate Partner and Head of Learning & Development, facilitated our Mid-Year Academy with this year’s theme being ‘Delivering Client Service Excellence’ and included workshops, key note speakers and team building exercises reaffirming our commitment to achieving and maintaining excellence in everything we do.
Jack Pierse discussing Wayflyer.
We would like to thank yesterday’s guest speakers:
- Jack Pierse, Co-Founder & CFO of Wayflyer, who shared valuable insights into Wayflyer’s remarkable journey to date, business model and growth strategy; and
- Brian Fagan, Founder of Glendalough Distillery & Cobblestone Brands, who led a thought provoking discussion on client service and entrepreneurship.
Brian Fagan discussing his businesses and client services.
Thanks also to members of our team who enthusiastically contributed to the Q&A and workshop sessions.
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 takes part in Junior Achievement Ireland 2022
As part of EisnerAmper Ireland’s Corporate Social Responsibility (CSR) programme, our Firm annually takes part in Junior Achievement Ireland (JAI), where both Trainees and Management assist young people to develop the skills they need to succeed in a changing world.
During the past few months, members of our team have been involved in Junior Achievement both virtually and in person. EisnerAmper team members have been involved in a variety of virtual and in person teaching classes from one off career talks where our staff members discussed their own individual studies and career experiences to multiple teaching lessons to over 100 students in four different schools across the country. Staff members were teaching students about various aspects of business, the benefits of staying in school and obtaining meaningful employment and career success.
Daniel Millar, Trainee, teaching ‘Finance Your Future’.
Junior Achievement Ireland (“Junior Achievement”) is a member of one of the world’s largest educational non-profits, helping prepare young people for their futures by delivering hands-on, experiential learning in entrepreneurship, employability, financial literacy and the value of STEM (Science, Technology, Engineering, and Mathematics). Reaching more than 12 million young people each year, Junior Achievement (JA) is one of few organisations with the scale, experience, and passion to build a brighter future for the next generation.
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 →Sustainable Finance: European Supervisory Authorities provide updated guidance on the application of the Sustainable Finance Disclosure Regulation
The Sustainable Finance Disclosure Regulation (SFDR) applies to financial institutions including banks, insurers, asset managers and investment firms operating within the EU and requires these institutions to assess and publicly disclose certain information relating to environmental, social and governance matters.
SFDR aims to increase transparency on how financial market participants integrate sustainability into their investment decisions and recommendations. It introduces a classification system with new disclosure requirements for investment products. It focuses on investor protection and is designed to make it easier for investors to distinguish and compare products by classifying funds into three distinct categories according to the degree to which sustainability is a consideration.
The three European Supervisory Authorities (comprising the European Banking Authority (EBA), the European Insurance and Occupational Pension Authority (EIOPA) and the European Securities and Market Authority (ESMA)), recently updated their joint supervisory statement on the application of SFDR. This update includes a new timeline for the publication of the Regulatory Technical Standards (RTS) (delayed to 1 January 2023) and directs regulators and in scope financial institutions to use the current draft technical standards by way of guidance in order to comply with SFDR while recognising that the draft RTS may be subject to change.
The EU Taxonomy Regulation provides a classification system that helps financial institutions to identify sustainable economic activities and is connected to, and will support, disclosure requirements under SFDR. A useful summary of SFDR and the Taxonomy Regulation disclosure obligations is included in the updated Joint Supervisory Statement by the European Supervisory Authorities.
How EisnerAmper Ireland can help
As Partner in EisnerAmper’s Governance, Risk & Compliance Group, Carina Myles advises financial service providers on risk, regulatory and compliance-related matters. EisnerAmper’s specialist services include:
- Supporting organisations through regulatory change;
- Provision of bespoke board support and training;
- Designing and developing integrated risk and compliance frameworks;
- Preparing compliance briefings for discussion with the board; and
- Supporting the board in responding to and implementing any changes required relating to evolving needs.
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
Carina Myles
Partner Governance, Risk & Compliance
Carmanhall Road
Sandyford
Dublin, D18 CA22
Ireland
EisnerAmper and Insurance Ireland host first INED Forum of 2022
EisnerAmper Ireland, in conjunction with Insurance Ireland, was delighted to host the first INED Forum of 2022 this afternoon.
The webinar focused on ‘The Impact of ESG’. Frank Keane, Partner at EisnerAmper Ireland, moderated the event. We would like to thank Jacqueline Thornton, Director of Regulation & Policy Development and Company Secretary at Insurance Ireland for setting the scene, and our speakers for their insightful contributions:
- Carina Myles – Partner, Governance, Risk & Compliance, EisnerAmper Ireland; set the scene regarding ESG: why it is so topical, what firms can do regarding the implementation of same and how to take an auditable approach to ESG; and
- Brian O’Kennedy – CEO, Clearstream Solutions; discussed how to bring ESG to life within organisations and outlined how ClearStream Solutions are supporting EisnerAmper in developing its ESG framework.
We were delighted to be joined by expert speakers in the area of ESG for a panel discussion who explored the topic of ESG from an INED’s perspective and looked at the risk impact of ESG to business and company strategy. The panel included:
- Sylvia Cronin, INED;
- Stephen Rice, Pensions & Investment Propositions Lead, Aviva Life & Pensions Ireland DAC; and
- Sandra Rockett, Director – Wealth & Corporate Distribution, Irish Life Investment Managers.
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 →Making Europe Climate-Neutral by 2050
The European Union (E.U.) is undertaking initiatives to achieve its goal of becoming climate-neutral by 2050. This article offers a brief look at three key efforts:
- The European Green Deal
- The E.U. Taxonomy
- The Sustainable Finance Package
The European Green Deal
In 2019, the E.U. published the European Green Deal (the “Green Deal”), with the central objective of having the E.U. become the first climate-neutral continent by 2050.
The Green Deal’s goals extend across various sectors and its aim is to improve the overall quality of life for E.U. citizens, both present and future. Key actions are being taken across the following areas:
- Climate – a key milestone in meeting the objectives of the Green Deal is the European Commission’s target of a 55% reduction of greenhouse gas emissions by 2030 (compared to 1990 emission levels).
- Energy – ensuring a secure, affordable and efficient energy supply to E.U. citizens, with greater reliance on renewable sources.
- Agriculture – reducing the environmental impact of the E.U. food system and implementing a farm-to-fork strategy, which aims to make food systems fair, healthy and environmentally friendly.
- Industry – harnessing the potential in global markets for low-emission technologies as well as sustainable products and services throughout the E.U.
- Environment & Oceans – moving toward a more circular economy, which designs the cycles of production and consumption in a way that reduces the depletion of natural resources, tackles the amount of waste and pollution, and protects biodiversity and ecosystems.
- Transport – overhauling the current arrangements around public transport to achieve a 90% reduction in transport-related greenhouse gas emissions by 2050.
- Finance & Regional Development – ensuring a significant increase of financing to more sustainable investment and putting policies in place to encourage countries to implement greener investment strategies.
- Research & Innovation – the launch of Horizon Europe, the E.U.’s key funding programme for initiatives which tackle global challenges.
The E.U. Taxonomy
The E.U. Taxonomy (the “Taxonomy”) will play an important role in reaching the European Commission’s 2030 target of reducing greenhouse emissions by 55%. The Taxonomy is a comprehensive, science-based classification system, establishing a list of environmentally sustainable economic activities. The aim of the Taxonomy is to help investors make more sustainable choices – ensuring investments are funnelled to where they are needed most, creating security for investors and reducing greenwashing.
The Taxonomy Regulation came into force on 12 July 2020, and establishes six environmental objectives against which investment can be measured:
- Climate change mitigation;
- Climate change adaptation;
- The sustainable use and protection of water and marine resources;
- The transition to a circular economy;
- Pollution prevention and control; and
- The protection and restoration of biodiversity and ecosystems.
Regulatory requirements on the climate change mitigation and climate change adaptation objectives above came into effect on 1 January 2022. The requirements for the remaining four objectives will come into effect on 1 January 2023.
The Sustainable Finance Package
On 21 April 2021, the European Commission published its Sustainable Finance Package containing three important sustainable finance legislative developments:
- The E.U. Taxonomy Climate Delegated Act (the “First Delegated Act”), formally adopted on 4 June 2021, aims to support sustainable investment by providing clarity on which economic activities most contribute to meeting the E.U.’s environmental objectives. A second Delegated Act will be published this year and will outline the European Commission’s remaining objectives.
- The proposal for a new Corporate Sustainability Reporting Directive (CSRD) amends the existing reporting requirements of the Non-Financial Reporting Directive, which lays down the rules on disclosure of non-financial information by certain large companies; and
- Six Amending Delegated Acts on fiduciary duties, investment and insurance advice will ensure that financial firms include sustainability in their procedures and their investment advice to clients.
Commentary
The European Green Deal was entered to make Europe a net-zero emitter of greenhouse gases by 2050 and hopes to demonstrate that economies can develop without increasing resource usage, even after the effects of the COVID-19 pandemic.
The E.U. Taxonomy is ambitious and considered the most comprehensive and sophisticated initiative of its type. The U.K. is currently working on its own, separate taxonomy.
With the disclosure regime as part of the Sustainable Finance Package now in effect, there will be a significant learning curve as investors move to meet the criteria set out and transition to financing greener projects.
How EisnerAmper Ireland can help
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
Authors
Carina Myles
Partner Governance, Risk & Compliance
Carmanhall Road
Sandyford
Dublin, D18 CA22
Ireland
This article, Making Europe Climate-Neutral by 2050 first appeared on eisneramper.com.
EisnerAmper completes LauraLynn’s 280,000 steps in February Challenge
EisnerAmper Ireland was delighted to support, and partake in, LauraLynn’s 280,000 Steps in February challenge for a second year running.
The charity initiative ran from the 1st to the 28th of February and members of EisnerAmper’s team were set the challenge of completing 280,000 steps over the 28 days while raising funds for LauraLynn through our firm’s JustGiving page. We’re delighted that so many of our team surpassed their targets of 280,000 steps and collectively raised over €1,200.
EisnerAmper was delighted to announce that we are partnering with LauraLynn Children’s Hospice as a Corporate Partner for the third year running, helping LauraLynn to support children with life-limiting conditions and their families to live as fulfilling lives as possible.
LauraLynn Children’s Hospice 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 to our firm JustGiving page, 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 →EisnerAmper Welcomes Team Back To The Office
EisnerAmper Ireland was delighted to welcome our team back to the office this week on a hybrid basis.
At EisnerAmper Ireland, our goal is to have a happy, healthy and productive team. 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. This is reflected in our strong emphasis on employee health and well-being and through our smart and flexible hybrid work model, allowing for optimal work life balance. We were delighted to welcome staff back with balloon arrangements and cupcakes by The Cupcake Store.
Our focus is on sustaining successful firm collegiately in terms of working together in the office and remotely.
We use our workplace to collaborate with colleagues, enhance our relationships, expand our professional networks, and meet our clients’ needs.
Our employees currently have the flexibility to work two days each week in our office and three days remotely. Our office has always been accessible as a resource for our colleagues, clients and wellbeing purposes five days a week.
At EisnerAmper Ireland, we care about business and we care about the people we work with in business.
Contact Us
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