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News & updates - Page 7 of 47 - EisnerAmper Ireland

29.11.2021

EisnerAmper wins at the Sandyford Business District Awards 2021

Sandyford Business Awards | Latest News | EisnerAmper Ireland

EisnerAmper Ireland is delighted to announce our win at the Sandyford Business District – Business Impact Awards 2021.

EisnerAmper Ireland was nominated for, and won, the Health and Wellbeing in the Workplace Award. This award recognises the policies and programmes which have been implemented by EisnerAmper to support our colleagues during a period of unprecedented change.

We were delighted to be nominated and to win such an important award as we pride ourselves on our happy, healthy and productive work environment. The Firm’s wellbeing initiatives endeavour to foster a culture where we can focus on optimising individual and team performance while offering the tools, resources and guidance to support our team on their journey.

The Business Impact Awards are designed to celebrate businesses and individuals who excelled in response to Covid-19 last year and continue to do so. The awards recognise both the efforts undertaken by companies and individuals to adjust and keep operating under pandemic conditions as well as those who have continued to advance their offerings for both staff and clients.

At EisnerAmper Ireland, we design and deliver sustainable 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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Latest News
23.11.2021

Dear Chair Letter – 3rd November

Dear Chair Letter – 3rd November | ESG Insights | EisnerAmper Ireland | Financial Services

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:

  1. Governance: Boards need to take ownership of climate risks affecting the firm and promote a culture that places emphasis on ESG issues.
  2. Risk Management Framework: Firms need to enhance their existing risk management frameworks to ensure robust climate risk identification, measurement, monitoring and mitigation.
  3. Scenario Analysis: Firms need to perform scenario analysis and stress testing to assess the impact of potential future climate outcomes.
  4. 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.
  5. 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

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).

ESG Insights
18.11.2021

Team EisnerAmper supports Run in the Dark 2021

Run in Dark 2021 | Latest News | EisnerAmper Ireland

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
4.11.2021

EisnerAmper supports Insurance Ireland fourth INED Forum of 2021

INED Forum | Latest News | EisnerAmper Ireland

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:

Panel two:

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
14.10.2021

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:

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.

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Latest News
12.10.2021

Budget 2022

Budget 2022 | Latest News | EisnerAmper Ireland

Budget 2022 includes measures which continue to support the economy after the fallout from COVID-19 while new measures are being introduced to address climate change.

EisnerAmper Ireland summarises key measures included in Budget 2022 across the following four areas:

  1. Employment & Personal Tax Measures;
  2. Corporate & Enterprise Measures;
  3. Indirect Taxes Measures; and
  4. Other Measures.

1. Employment & Personal Tax Measures

Income Tax, USC and PRSI

  • The standard rate band for Income Tax is being increased by €1,500 in 2022 from €35,300 to €36,800 for a single person and from €44,300 to €45,800 for married couples / civil partners with one earner.
  • The Personal Tax Credit, Employee Tax Credit and Earned Income Tax Credit have all been increased by €50 from €1,650 to €1,700.
  • The Sea-going Naval Personnel Tax Credit which was introduced in 2020 has been extended until 31 December 2022.
  • The reduced rate of USC for medical card holders and people aged 70 and above whose income is €60,000 or less has been extended for another year until 31 December 2022.
  • Due to an increase in the National Minimum Wage from €10.20 to €10.50 per hour on 1 January 2022, the threshold for the 2% rate of USC has increased from €20,687 to €21,295.  This is to prevent full-time workers on minimum wage from paying USC at the top rates.
  • The weekly threshold for the higher rate of Employer’s PRSI has been increased from €398 to €410.
  • The BIK exemption for battery electric vehicles will be extended to 2025 with a tapering effect on the vehicle value. This measure will take effect from 2023. For BIK purposes, the original market value of an electric vehicle will be reduced to €35,000 for 2023; €20,000 for 2024; and €10,000 for 2025.

Working from Home Deduction 

  • Taxpayers who work remotely will be allowed to claim an Income Tax deduction of 30% of the cost of heat, electricity and broadband incurred on days spent working from home.

Electricity Micro-generation 

  • Households who sell residual electricity that they generate back to the grid will be allowed a €200 tax disregard on their personal income.

Employment Wage Subsidy Scheme (“EWSS”)

  • The EWSS will be extended until 30 April 2022 in a graduated form.
  • There will be no change to EWSS for the months of October and November 2021.
  • Businesses availing of the EWSS on the 31st of December 2021 can continue to be supported until the 30th of April 2022:
    • from December 2021 to February 2022, the original two-rate structure of €151.50 and €203 will apply;
    • for March and April 2022, a flat rate subsidy of €100 will be put in place.
  • The reduced rate of Employers’ PRSI will not apply for March – April 2022.
  • The scheme will close to new employers from 1 January 2022.

Taxation of International Flight Crew

  • An amendment will be introduced in the Finance Bill to exclude non-resident flight crew from Irish Income Tax where certain conditions are satisfied. The details will be provided in Finance Bill 2021.

Pre-letting Rental Expenses

  • The Finance Act 2017 introduced a provision which allowed a tax deduction against rental income for pre-letting expenses (expenditure that was incurred during the 12 months prior to being let after a vacant period). This provision was due to expire on 31 December 2021. Budget 2022 now extends the tax deductibility for pre-letting rental expenses to 31 December 2024.

2. Corporate & Enterprise Measures

New Corporation Tax credit for the digital gaming sector.

  • Relief will be available as a refundable Corporation Tax credit at a rate of 32% on eligible expenditure (relating to the design and production of digital games) of up to a maximum limit of €25 million per project with a per project minimum spend requirement of €100,000.

Corporation Tax relief for certain start-up companies

  • The relief will be amended to allow companies claim relief within their first five years of trading, an increase from the current three-year claim window.

Employment Investment Incentive (“EII”)

  • The EII scheme is being extended to the end of 2024. Other provisions are being introduced with the aim to make the EII scheme more accessible – to open up the scheme to a wider range of funds and to make it easier for investors to redeem their capital without being subject to a penalty.

Headline Corporation Tax rate

  • The Minister reiterated that agreement has been reached that the Irish headline Corporation Tax rate will increase to 15% (from 12.5%). However, the increased Corporation Tax rate will apply only to businesses with annual revenues exceeding €750m.

Budget 2022 | Tax Insights | Financial Services | EisnerAmper Ireland

 

3. Indirect Taxes Measures

VAT

  • The Minister has confirmed the reduced VAT rate of 9% for the hospitality sector will expire at end of August 2022 as previously suggested.
  • The Minister also announced a change to the Farmers Flat Rate Scheme. There will be a decrease in the farmers’ flat rate addition from the current 5.6% to 5.5% in respect of 2022. The flat-rate scheme compensates un-registered farmers on an overall basis for VAT incurred on their farming inputs.

Vehicle Registration Tax (VRT)

  • Budget 2022 introduced increases in the rates of VRT. From January 2022, the Minister said that a revised VRT table is being introduced. The 20 band table will remain with an increase in rates with a 1% increase for vehicles that fall between bands 9-12, a 2% increase for bands 13-15 and a 4% increase for bands 16-20.

Carbon Tax

  • The Minister has confirmed that the Carbon Tax will increase by €7.50 from €33.50 to €41 per tonne of carbon dioxide emitted as flagged in the Finance Act 2020. The Finance Act 2020 provided for annual increments in the Carbon Tax of that amount every year out to 2030. This increase will be effective as of Budget night for auto fuels and 1 May 2022 for all other fuels.

Transfers of land to young trained farmers

  • An extension to the Young Trained Farmer Stamp Duty relief was announced by the Minister. This measure means that full relief from Stamp Duty on the conveyance of farmland remains available to eligible young trained farmers to the end of 2022. In the context of this relief, the young trained farmer must be below the age of 35. This relief represents a 7.5% Stamp Duty saving.

4. Other Measures

Warehousing of Tax Liabilities

  • Previously, company owners who had a material interest in their company were restricted from availing of the warehousing of debt provisions for employment income from that company. The provisions relating to warehousing of debt were introduced on account of COVID-19 and were effectively a deferral of certain tax liabilities.
  • Budget 2022 now allows for such self-assessed income tax-payers who have that material interest in the company to warehouse Income Tax liabilities relating to the employment income from that company.

Help to Buy Scheme

  • This scheme was due to cease on 31 December 2021. Budget 2022 now extends that relief to 31 December 2022 and provides that the enhanced relief will be available.

Accelerated Capital Allowances

  • The Accelerated Capital Allowance scheme for Energy Efficient Equipment is being amended to exclude equipment directly operated by fossil fuels from qualifying for the scheme.
  • The Accelerated Capital Allowance scheme for Gas Vehicles and Refuelling Equipment allows an accelerated deduction when businesses invest in vehicles powered by natural gas /biogas and related refuelling equipment. The scheme is being extended to the end of 2024 and is being amended to include hydrogen powered vehicles and refuelling equipment.

Anti-Tax Avoidance Measures

  • Budget 2022 introduced a new rule in relation to interest limitation. This will limit deductible interest expenses to 30% of EBITDA for companies falling within the scope of the measure. Disallowed interest may be carried forward and may be deducted in future years if the company has sufficient interest capacity.
  • Also introduced are new anti-reverse-hybrid rules. These rules may bring certain tax transparent entities (such as partnerships) within the scope of Irish tax where the entity is 50% or more owned/controlled by entities resident in a jurisdiction where a non-aligned tax treatment would cause a double non-taxation to occur.

How EisnerAmper Ireland Can Help

At EisnerAmper Ireland, we design and deliver business & compliance solutions to make trade happen. This is what we do every day.

EisnerAmper Ireland’s Tax Department advises corporates, their people and principals operating in the technology, life sciences, real estate, structured finance, aircraft leasing and investment funds industries. To find out more, visit our Tax Services page.

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Request a Callback from our Tax specialists now.

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).

Latest News
8.10.2021

EisnerAmper Ireland Supports Charity Cycle from Malin Head to Mizen Head

Charity Cycle Malin Head to Mizen Head | CSR | EisnerAmper Ireland

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.

Charity Cycle Malin Head to Mizen Head | CSR | EisnerAmper Ireland

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
1.10.2021

EisnerAmper Ireland Sponsors Team in The Fionn Brogan Trust Golf Classic

Fionn Brogan Golf Trust | Latest News | EisnerAmper Ireland

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
29.9.2021

Gender Pay Gap

Gender Pay Gap | Case Study | Financial Services | EisnerAmper Ireland

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:

  1. The mean and median gap in hourly pay between men and women;
  2. The mean and median gap in bonus pay between men and women;
  3. The mean and median gap in hourly pay of part-time male and female employees;
  4. The percentage of men and of women who received bonus pay; and
  5. 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

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).

ESG Insights
28.9.2021

Congratulations to EisnerAmper Ireland’s FAE Students

FAE Students | Latest News | EisnerAmper Ireland

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
15.9.2021

EisnerAmper supports Insurance Ireland third INED Forum of 2021

Insurance Ireland | INED | Webinar | EisnerAmper Ireland | Financial Services

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
23.8.2021

Case Study – Sustainable Finance Disclosure Regulation (SFDR)

Case Study | Sustainable Finance Disclosure Regulation (SFDR) | EisnerAmper Ireland | Financial Services

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

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).

ESG Insights