CPDStore Ireland

Independence of the professional accountant, the firm, as well as any network firm is vital in its forms of perceived independence and independence of mind. We have started to discuss independence, but it is a lengthy subject and requires time to work through.

In this webinar Ulrich Schackerman will cover the following topics:

• Independence in Relation to Mergers and Acquisitions
• Breach of Independence Provisions for audit and review engagements
• Fees – aspects that affect independence.

During merger and acquisitions independence of the firm, a network firm or members of an engagement team may be affected by circumstances arising from the merger or acquisition. This may have an influence on the assessment of the independence of those entities and individuals concerned and it is necessary to re-evaluate the independence of any of them. 

Of course, during the performance of professional activities circumstances may change the previous assessment of independence of the team, the firm and the network firm may no longer be given. We will learn what needs to be done under such circumstances, who needs to be informed and how to address any consequences that may have arisen.

Of course, fees are a very important aspect of professional services. They need to be sufficient in order to ensure the continued operation of the firm, but they also need to be competitive in order to gain new work and new clients. The level of fees might create a self-interest threat, or an intimidation threat to independence and firm are required to comply with the independence requirements of the Code. The outcome will be that these threats can be addressed effectively and compliance with the code can be assured.

The webinar will be of most interest to professional accountants in public practice. It is also advisable that those professional accountants that are in business have an understanding of these requirements so they can interact in an appropriate manner with his professional colleagues in public practice.

Course level: Need to know

The course is designed for recognised members of professional accounting bodies who are obliged to comply in their work performance with the requirements of the International Ethical Standards Board for Accountants which is a Board if the International Federation of Accountants.