Annual_Report2014

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<strong>Annual</strong> Report 2014 31 Governance and structure 1. Legal structure IAASA is a company limited by guarantee with the following 18 members of the company: • Association of Chartered Certified Accountants* • Association of International Accountants* • Chartered Institute of Management Accountants* • Chartered Institute of Public Finance & Accountancy* • Central Bank of Ireland • Director of Corporate Enforcement • Institute of Certified Public Accountants in Ireland* • Institute of Chartered Accountants in England & Wales* • Institute of Chartered Accountants in Ireland* • Institute of Chartered Accountants of Scotland* • Institute of Incorporated Public Accountants* • Irish Association of Investment Managers • Irish Business & Employers’ Confederation • Irish Congress of Trade Unions • Irish Stock Exchange • Law Society of Ireland 2. Organisational structure 2.1. Overview During the year, IAASA had 13 staff, structured into four units as follows: • Regulatory & Monitoring Supervision, which is concerned principally with supervision of the PABs’ regulation of their members; • Financial Reporting Supervision, which is concerned principally with certain entities’ financial reporting examination and enforcement; • Legal Services, which, in addition to providing in-house legal advice, provides a Secretariat to the Board and to certain of its Committees; and • Finance & Administration, which provides corporate services support to IAASA. 2.2. Approved staff complement The numbers, grades, and terms and conditions of IAASA’s staff are determined by IAASA with the approval of the Minister, given with the consent of the Minister for Public Expenditure & Reform. Accordingly, any amendments to IAASA’s approved staff complement require both Ministers’ prior approval. In addition to this approval, the filling of any vacancy is subject to specific sanction by the Department of Public Expenditure & Reform as it arises. Vacancies persisted during 2014 despite public advertisements by open competition. Details of the approved, sanctioned and actual staff complements are set out in Table 4.1. • Pensions Authority • Revenue Commissioners * Denotes a PAB
<strong>Annual</strong> Report 2014 Irish Auditing & Accounting Supervisory Authority 32 Table 4.1: Approved, sanctioned and actual staff complements as at year end Grade Approved Sanctioned Actual Chief Executive 1 1 1 Heads of Function 4 4 4 Project Managers 8 8 6 Administrative Executive 1 1 1 Clerical Support Staff 1 1 1 Total 15 15 13 Apart from these approved vacancies, IAASA considers that the staffing resource required to adequately discharge its current mandate is considerably greater than the approved complement of 15. Clearly, a shortfall in its staffing resource significantly impacts IAASA’s ability to discharge its statutory mandate. 2.3. Organisational chart IAASA’s organisational structure as at 31 December 2014, reflecting the actual staff complement at that date, was as set out in the organisation chart below. Board Chief Executive PA/Receptionist Head of Regulatory & Monitoring Supervision Head of Financial Reporting Supervision Secretary & Head of Legal Services Head of Finance & Administration Project Managers x 4 Project Managers x 2 Finance & Administration Executive
Page 1 and 2: Annual REPORT 2014
Page 3 and 4: Annual Report 2014 Irish Auditing &
Page 5 and 6: Chapter 1 Overview of 2014
Page 13 and 14: Chapter 2 Examination of issuers’
Page 27 and 28: Chapter 3 Supervision of the accoun
Page 35: Chapter 4 Governance and structure
Page 47 and 48: 2014 Financia l & Related Statement
Page 75 and 76: Appendices
Page 87 and 88:
Annual Report 2014 Irish Auditing &
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Page 91 and 92:
Page 93 and 94:
GLOSSARY OF TERMS
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www.iaasa.ie
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