PSRA and MUD - Reporting in Respect of Certain Property-Related Entities PRE-RECORDED Institute of Chartered Accountants of Ireland
Price: USD 103
  • Duration: 4 Hours

Course details

 

Balancing important short term tasks with the completion of critical but longer term project-based work is a key challenge for every professional.  This course will give you the skills and techniques to be able to handle a project successfully - ensuring deadlines are kept and objectives are met.

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PSRA (Property Service Regulatory Authority) Reporting for Accountants

The Property Services (Regulation) Act 2011(the Act)introduced a new regime for the licencing and regulation of property service providers in the Republic of Ireland. Since the publishing of the Act there have been a number of related statutory instruments commencing the sections of the Act. More notably the PSRA brought the Property Services (Regulation) Act 2011 (Clients Money) Regulations 2012 into effect on 11thJune 2012.This introduced the requirement for property service providers to have in place appropriate procedures as defined in the Regulations, with respect to the holding of clients’ money. As part of the annual licence renewal process,property service providers are required to submit, amongst other things, an Accountants Report regarding their level of compliance with these regulations. Those familiar with this area will recall the finalization of an Accountants Report format by the PSRA in May 2013. This Course will provide you with an overview of some of the key issues that affect your work, as a Reporting Accountant, and provide you with clarification on most aspects of the procedures, including any updates which have been published as at the date of the course delivery.

Accounting for and Auditing Owners’ Management Company’s and consideration of the Multi-Unit Development Act 2011.

Topics covered include

  • Up to date overview of the Property Services Legislation and Regulations
  • Clarification of the requirements in preparing an Accountants Report for the Property Service Provider licence renewal process
  • Addressing certain key aspects of the clients’ money procedures with reference to a number of different Property Service providers including Auctioneers, Property Management Agents, Letting Agents, Livestock Marts, etc.
  • Addressing specific key risks of an Owners Management Company at the planning stage whether a company limited by guarantee, company limited by shares, or other.
  • How to audit key issues including transfer of common areas, application of laws and regulations, outstanding service charges, annual report etc.
  • Addresses certain aspects of the Multi-Unit Development Act 2011 and implications for the audit and/or financial statements.
  • How to address issues associated with outstanding service charges.
  • What can go wrong on Property Management Companies and how to avoid it

 

Updated on 08 November, 2015

About Institute of Chartered Accountants of Ireland

Chartered Accountants Ireland (The Institute) is a membership body representing 23,000 influential members throughout the globe. their role is to educate, represent and support their members. their members work in senior positions in practice and industry. they are committed to restoring confidence at every level of the economy. they work with governments and businesses to raise awareness of the importance of sound financial advice.
Chartered Accountants Ireland was established as the Institute of Chartered Accountants in Ireland by Royal Charter in 1888. Its activities and those of its members are governed by its Bye-Laws and by Rules relating to professional and ethical conduct. These provisions are contained in the Handbook which is available to all members.
Chartered Accountants Ireland is governed by a Council and it is responsible for determining policy and monitoring its implementation. Council is lead by the Officer Group and supported by the Management Team and staff. A number of committees with voluntary member involvement also play a key role.
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