Accountancy Ireland | October/November 2022

This year’s Deloitte Financial Reporting Plus (DFRP) conferences in Dublin, Belfast, Cork, Galway, and Limerick will feature an exciting mix of topics, ranging from the latest developments in cryptocurrencies to the sustainability journey that all companies must undertake in the years ahead. Each conference will be carefully tailored to the needs of the local region, with a line-up of experts from across the firm sharing insights from one end of the financial reporting spectrum to the other. A spotlight on the Dublin event in this feature will provide a flavour of what attendees can expect.

This year marks the return to in-person events across Ireland for the first time since the pandemic. “With such a longstanding history we feel that DFRP has become a tradition in our attendees’ calendars, and we’re excited to provide the space for us all to reconnect in person again,” says John McCarroll, Partner, Audit & Assurance. “We’re also looking forward to welcoming some new attendees to their first DFRP and facilitating that networking opportunity for them.”

Attendees can expect a blend of presentations and panel discussions as in previous years. “Our format is tried and tested, but what is new, of course, is the content,” McCarroll notes. “Our team will be sharing the need-to-know updates across our topics, sign posting the really key matters to focus on when reporting on 2022.” He also points out that as a financial reporting conference, DFRP provides an invaluable training opportunity with attendance eligible for 3.5 CPD hours.

Sustainability and its reporting implications feature prominently. “With the journey for companies to implement sustainable business practices very quickly becoming a significant agenda point, we have a panel discussion on getting started with being sustainable as well as reporting on the latest developments in sustainability. This will be followed by what we see coming down the line in relation to the sustainability reporting standards being issued by the ISSB.”

The session will also focus on the practical impacts for businesses and the processes they need to put in place to manage sustainability risks.

The panel discussion at the Dublin event will be chaired by Jamie Schmidt, Partner, Audit & Assurance, who will be joined by leading sustainability experts including Dr Aideen O’Dochartaigh, Assistant Professor in Accounting at DCU; Sarah Dempsey, Head of the Office of Sustainable Business at AIB; John Sadlier, Chief Sustainability Officer at Ardagh; and Eileen Healy, Partner, Risk Advisory, specialising in Sustainability Reporting and Assurance.

Sustainability won’t just be a topic on the agenda – with Deloitte a founding partner of the DCU Centre for Climate and Society, the Dublin conference itself will embed sustainable practises throughout. The foundation of this is its choice of venue; the Convention Centre Dublin – the world’s first carbon-neutral constructed convention centre.

Revenue disputes will also feature. “These are time-consuming, and in Dublin, we have a very interesting speaker in Fiona McLafferty, Managing Director, Tax and Legal, who has been right there in the court room in relation to revenue disputes and will share her expert knowledge of cases and how best to ensure timely resolution.”

Corporate tax is never far from the headlines. Steered by Tax Partner Tom Maguire, author of leading Irish tax texts such as ‘Irish Income Tax 2022’, the corporate tax session will provide attendees with the information they need to know about corporate taxation changes planned for 2022. The session will also cover key technical insights on IFRS and IFRIC and the impact these will have on businesses.

Cryptocurrency and related technologies are continually evolving – but what does this mean for businesses and how they report? Megan Haldane, Senior Manager, Audit & Assurance, will provide attendees with key insights into how the use of cryptocurrency could impact their reporting at the Dublin conference.

Also very topically, with companies employing more than 250 people shortly to report on their Gender Pay Gaps, Anne Kelleher, Director, Reward Services, will lead a session which will equip attendees with the information they need to prepare their mandatory Gender Pay Gap report in accordance with the regulations.

“Holding ourselves accountable on the gender pay gap and facilitating others to do the same is hugely important to us,” says McCarroll. “We have published guidance around how firms should approach their gender pay gap calculations and have produced our own insights through our Gender Pay Gap report.”

The final session will cover the accounting impacts of the various challenges and disruptions facing business today, including rising interest rates, spiralling inflation, supply chain shocks, and mounting cyber risk.

“Throughout 2022 our economy has been subject to constant change, including the dramatic increase in fuel prices, rising interest rates, and sustained, elevated inflation rates,” McCarroll notes. “Consumers are very aware of this on a day-to-day basis but how does that translate into our accounting and reporting in our financial statements? I will be joined by Oliver Holt, National Director – Financial Reporting, to take attendees through the accounting and reporting impacts of the key economic changes that have occurred in 2022 and where best to focus our attention. We look forward to welcoming attendees back to our first in-person DFRP conferences since 2019, and what are sure to be a lively, informative, and rewarding experiences.”

This interview originally appeared in the October/November 2022 issue of Accountancy Ireland.