Course Summary

Duration8 hours


Course Details

Session 1: Pre & Post Monitoring Visit And Top File Review Errors

This session will cover the following topics:

  • Preparing for your Monitoring Visit
  • Top Audit File Review Issues
  • Post Your Monitoring Visit
  • Anti Money Laundering Matters

2 hours Colm Owens, OmniPro


Session 2: Efficient Implementation Of The Anti-Money Laundering Regulations

This session will cover the following topics:

  • Applicable Legislation
  • What is Money Laundering?
  • Who Are Designated Persons
  • Money Laundering for Accountants – What is Required
    • Role of the MLRO
    • Systems and Controls
      • Risk assessments for firm and clients
      • Customer due diligence completed
      • Annual compliance reviews
      • Staff training
      • Reporting Procedures (internal and external)
    • Key weaknesses in AML
    • Is AML applicable to your clients
    • The 5th EU AML Directive

2 hours Colm Owens, OmniPro


Session 3: KnowledgeHUB – Most Common Technical Queries Of 2019

This session will cover the following topics:

  • KnowledgeHub Queries – Financial reporting
  • Can I Act As Company Secretary to an Audit Client
  • Finalising the Audit Opinion
  • KnowledgeHub Query – VAT
  • KnowledgeHub Queries – Company law
  • Provisions & Audit Opinion
  • Employed V Self Employed
  • Consolidation of Audit-exempt subsidiary
  • KnowledgeHub Queries – Taxation
  • KnowledgeHub Query – CAT

2 hours John Murphy, Colm Owens & Yvonne O’Sullivan, OmniPro


Session 4: Key Co Sec Issues For 2020

This session will cover the following topics:

  • Focus 1: Register of Beneficial ownership
  • Focus 2: New legislation – Bills currently in issue
  • Focus 3: Distributable reserves
  • Focus 4: Converting Ltd to CLG
  • S.357 Guarantee
  • Restructuring – Bonus / sub-division of shares, Group re-organisations/ Redesignation
    of shares;
  • Focus 4: RBO
  • Focus 5: Sundry items


2 hours John Murphy, OmniPro


CPD Facilitators

Colm Owens: Practice Support Executive, OmniPro

As a member of our Practice Support team, Colm’s focus is on helping practices achieve on-going best practice compliance, prepare for monitoring visits and assist with post-monitoring visits follow-ups.

Colm brings a unique insight into the whole area of monitoring and compliance having spent the last 6 years as a quality reviewer with Chartered Accountants Ireland.  In that role he has visited firms of differing sizes all over the country which has given him an insight into how firms operate, the challenges facing firms and how firms are responding to current issues facing them and the profession.  He has gained up-to-date knowledge of audit, accounting, money laundering and regulatory compliance issues relevant to the profession and knowledge of current audit methodologies.

Prior to his time with Chartered Accountants Ireland, Colm’s roles included Audit Manager with Anne Brady McQuillans and Brophy Gillespie, both in Dublin, where he worked with a range of clients from small owner-managed businesses through to larger audit clients.

John Murphy: Tax, Corporate Restructuring and Practice Support, OmniPro

As a lead member of our technical support team, John relishes problem-solving to help accountants develop innovative client solutions and sharing 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 and exit planning to Revenue audits.  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 and As a speaker at OmniPro CPD events, he brings these industry-leading insights to accountants participating in our training programmes.

A Chartered Accountant and Qualified Financial Adviser, 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.

Yvonne O’Sullivan: Tax Executive, OmniPro

Yvonne is a key member of our technical support team, providing advice on all tax heads in response to queries submitted through our Knowledge Hub platform. In addition, she provides support within the tax department on tax planning, restructuring and exit planning solutions for a range of clients.

A Chartered Certified Accountant, Yvonne trained and worked in small practice for a number of years followed by working for over 2 years in an independent Dublin based firm Beechwood Partners. She has experience with a range of professionals, executives, entrepreneurs and family groups assisting them with their tax compliance across all areas. She worked closely with clients providing daily practical and operational assistance with the management of their personal and business finance administration as well as assisting with the ongoing analysis and production of investment portfolio reports.

Yvonne has recently completed her final IATI Chartered Tax Adviser Exams, and plays a key role as a researcher on developing subject matter and content for our Knowledge Hub tax product.