The Essential Advisors’ Mix
Registering for CPD Fest 2022 couldn’t be more straightforward. We have three packages for you to choose from – 8 hours, 16 hours and 24 hours of CPD – allowing you to customise the event to your own specific needs. Once purchased, pick ‘n’ mix the topics of most interest and relevance to you from any of the sessions running across the week of CPD Fest 2022.
CPD Fest Packages:
The 12 Gifts Of CPD Fest
Over the coming weeks we are going to give you advance access to hugely valuable extracts from the note packs The CPD Fest & The Essential Advisors’ Mix.
With The 12 Gifts of CPD Fest you will get guides, financial statements, checklists, tools, tax papers, letters of engagement and reports all the way up to and including the kitchen sink!
Registration for The 12 Gifts Of CPD Fest is free, quick and straight forward and you can do so here:
Event Details:
Session 1 - Part 1: Topical Tax Updates
Time: 09:00 – 09:50
Speaker: John Murphy – OmniPro Tax & Legal
In part one of this session, John Murphy will review topical tax items which are relevant to almost all practices in Ireland and some common errors or issues noticed from our work with accountants during the past year, including:
- The interaction of capital losses with retirement relief provisions
- Principal private residence relief – do not forget the development exception, unusual results where transfers between spouses, and what happens where losses arise
- Application of loans between companies with common directors and the application of the close company provision – A regular question into us
- Given the uncertain times for some companies regarding insolvency, we will do a recap on anti-avoidance legislation with regard to the conversion of loans to share capital in the hope of creating capital losses.
- A useful piece of legislation to allow companies to pay pre-requisites on the directors/shareholders behalf which results in a better effective rate of tax than paying a salary to cover certain expenses.
- Termination payments – where a person controls a number of companies – what to watch
- In the current environment – the importance of keeping PAYE liabilities up to date – Section 997A and the ability to unravel the veil of incorporation
- The importance of meeting return filing dates for making certain elections – missing them even where no liability to tax arises can be detrimental and result in claims from clients. We will identify some of the more common reliefs that require an election within a short time period after the return has been filed.
- Some recent tax appeal determinations which have application for all practitioners:
- The bona-fide commercial reasons – the importance of having these – even before looking at the specific anti-avoidance rules when looking to attract various reliefs such as retirement relief, revised entrepreneurial relief among others
- The importance of clients understanding what is being said to Revenue could come back to bite them
- Tax advice is all well and good – the importance of implementing the advice that is important
- Maintenance payments a regular at the tax appeals process
- Agriculture – level of proof to claim favourite niece/nephew; the 80% farmer test and interest in expectancy.
- Work done by Company and land owned by the shareholders = the distribution/BIK risks that cannot be ignored.
Session 1 - Part 2: Tax Appeal Cases
Time: 09:50 – 10:40
Speaker: Naomi Butler & Lisa Cosgrave – OmniPro Tax & Legal
In part two this session Lisa and Naomi will highlight the common areas appearing in the tax appeals cases this year and how these cases could impact your approach to your clients’ affairs.
Session 2 - Financial Reporting: Preparing for 2023 - Part 1 & 2
Time: 11:00 – 12:40
Speaker: Lindsay Webber, Claire Thomson – OmniPro Practice Support
SMEs have faced, and continue to face, a number of uncertainties including COVID-19, rising inflation and climate change. Technology is developing and changing at an incredible pace. How does this ever-changing and unpredictable landscape affect financial statements?
This session will cover some of the key accounting considerations for SMEs as they look towards preparing FY2022 financial statements, and the areas where accountants should be focusing their attention. For both preparers and reviewers of financial statements, this webinar will serve as a refresher of these chapters of the accounting standard, and the session will include both theory from FRS 102 and additional worked examples and useful tools. You will learn about some of the practical difficulties in applying these sections and how to overcome these.
Lindsay & Claire will cover the following:
- FRS 102 Section 1A – accounts of small companies, and the company law small companies’ regime
- FRS 102 Section 21 – provisions and contingencies
- FRS 102 Section 27 – Impairment of assets
- FRS 102 Section 32 – Post balance sheet events
- FRS 102 Section 33 – Related party transactions
- Companies House – Register of Overseas Entities – what action is required from Irish property companies?
Session 3 - Part 1: Company Secretarial & Processes
Time: 13:40 – 14:30
Speaker: Sinead Gortland – OmniPro Corporate Consultants
In part one of this session, Sinead Gortland will be reviewing practical company secretarial topics that will help your Practice every day, including:
- Guideline on holding a virtual general meetings
- Setting up your internal beneficial ownership register
- An annual return is late? What are the options
- Steps involved in a High Court Restoration
- 2022 Review of CRO/RBO and Upcoming Changes
Session 3 - Part 2: Law & Regulation Update 2022
Time: 14:30 – 15:20
Speaker: Claire Thomson, Elaine Jackson & Sinead Gortland – OmniPro
With many updates to laws and regulations taking place, it is essential that accountants are aware of the main changes and the impacts for their clients. In part two of this session, Sinead Gortland, Elaine Jackson and Claire Thomson will be covering topical updates in law and regulation including:
- Sanctions and AML,
- RBO Discrepancies and Non-Compliance
- Corporate Enforcement Authority Act
- Register of Overseas Entities at Companies House
Session 4 - Part 1: AML - How to Ensure AML Compliance Within Your Firm
Time: 15:40 – 16:30
Speaker: Elaine Jackson – OmniPro Practice Support
No firm wants to be used as a tool for money laundering, which is why awareness of money laundering, how it can occur and how to spot the types of people most likely to be involved in money laundering is so important. AML Compliance is about having the right policies, procedures, controls and monitoring in place. AML Compliance is an on-going activity in which all staff should be fully engaged.
Elaine will discuss the following topics;
- What does being AML Compliant mean?
- The role of the MLRO,
- Customer Due Diligence
- The Review Process
- Valid Documents
- Informing and Educating the Client
By attending part one of this session, you will be able to implement improvements within your firm to ensure AML Compliance.
Session 4 - Part 2: 5 Things Firms Can Do Now to Get a Better Result in 2023
Time: 16:30 – 17:20
Speaker: Des O’Neill – OmniPro
Real life insights and practical actions for firm owners and senior team members to reduce stress and drive profitability.
In part two of this session, Des O’Neill will cover the following topics:
- Rising Prices
- Keeping People
- Better Clients
- Knowing Your Numbers
- Winning Technology – A Strategy for Success
CPD Course Facilitators
Des O'Neill - OmniPro
Having worked for a number of years in practice, Des O’Neill co-founded OmniPro to develop tools, techniques, products and services, empowering accountants to achieve their best.
Elaine Jackson - OmniPro Practice Support
As a member of our Practice Support team, Elaine’s focus is on providing firm’s with assistance and training in the following areas; Anti-Money Laundering, Audit Testing and Walk Through Procedures, Audit Planning and Efficiency, OmniPro Audit Working Paper Demos, Preparing for Monitoring Visits and Post Monitoring Visit follow-ups.
Elaine has over 15 years Accountancy Practice experience which has provided her with a wealth of knowledge across all industries and sectors. Elaine is an AITI Chartered Tax Advisor, a Certified Public Accountant and holds a Diploma in Corporate Finance.
In her previous roles, Elaine has experienced a number of ACA and ACCA monitoring reviews. This experience has provided Elaine with a great understanding and appreciation for the challenges facing Accountants in practice today.
Lindsay Webber - OmniPro Practice Support
As a member of our Practice Support team, Lindsay’s focus is on helping practices achieve on-going best practice compliance, prepare for monitoring visits and assist with post-monitoring visits follow-ups.
Lindsay is a qualified Chartered Accountant and trained with KPMG in Johannesburg. She has over six years external audit experience along with over six years academic experience specialising in Audit and Financial Accounting.
Sinead Gortland - OmniPro Corporate Consultants
Sinead is a key member of the OmniPro Corporate Consultants Technical Support team providing advice and support in relation to Company Law and Company Secretarial procedures.
In addition, Sinead is responsible for carrying out Section 343 applications to the District Court, Company Restorations, Annual Compliance, Company Conversions and Company Law Compliance.
Sinead joined OmniPro in 2016 and quickly became an integral member of our Company Secretarial team. She started off her career in OmniPro as part of our Company Formations team building up her experience and knowledge before eventually moving into Company Secretarial.
Sinead has a Masters Degree from Maynooth University.
John Murphy - OmniPro Tax & Legal
As a lead member of our technical support team, John relishes problem-solving to help accountants develop innovative client solutions and sharing his technical knowledge on tax, financial reporting and auditing.
A Chartered Tax Adviser, he advises clients in practice on a range of issues from income tax, tax planning, restructuring to exit planning. In addition, he provides support on financial reporting, auditing and company law; conducts company valuations and advises on pre-sale restructuring.
John also plays a key role as a researcher and subject-matter expert in developing OmniPro information products such as the CompaniesAct2014.com and FRS102.com. As a speaker at OmniPro CPD events, he brings these industry-leading insights to accountants participating in our training programmes.
As a Chartered Accountant, John has over a decade’s Big 4 experience with EY and PwC, providing tax and audit services for a portfolio of clients, ranging in scale from SMEs to multinationals.
Lisa Cosgrave - Technical Advisor, OmniPro
Lisa is a key member of our tax technical support team, providing advice on all tax heads in response to queries submitted. In addition, she provides support within the tax department on company/business valuations, tax planning, restructuring and exit planning solutions for a range of clients, liquidations, and company secretarial issues. She also has experience in financial reporting and audit.
A Chartered Certified Accountant and Chartered Tax Advisor, Lisa trained and worked in practice for six years prior to joining OmniPro, where she gained experience in financial reporting, tax compliance across all tax heads and audit. She has experience with a range of small and medium sized businesses assisting them with their financial reporting obligations and tax compliance across all areas.
Naomi Butler - Technical Executive, OmniPro Strategic Solutions Limited
Naomi is a member of our technical support team, providing advice on all tax heads in response to queries submitted through our Knowledge Hub Platform. In addition, as a speaker for OmniPro CPD events, she creates content and presents on a variety of taxation topics.
A Chartered Tax Advisor, Naomi trained and worked in practice since 2004. She progressed from trainee up to Head of Tax Compliance and Personal Tax Manager. Naomi has a range of experience overall tax heads with a strong understanding of personal taxes and payroll. Naomi also lectures in taxation for both CPA and Accounting Technicians Ireland through Griffith College.
Claire Thomson - OmniPro Practice Support
As a member of our Practice Support Team, Claire’s focus is on helping practices achieve on-going best practice compliance, with a particular focus on delivering technical training and providing guidance on the requirements of financial reporting and company law in both Ireland and the UK.
Claire is a qualified Chartered Accountant with the Institute of Chartered Accountants of Scotland, and trained with Grant Thornton in Belfast. She spent 5.5 years in corporate audit, before moving to Grant Thornton’s risk & compliance team, where she spent 6 years supporting the all-Ireland practice as their UK financial reporting subject matter expert.
CPD Fest is brought to you in association with Xero.
