Annual_Report2014

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85 Appendices Provision(s) of the UK Code Evaluation of Board members’ performance/Objective and scope of same Board members’ training and development needs Executive director & nonexecutive directorships of FTSE 100 Company Evaluation of Boards of FTSE 350 Companies Generation/preservation of value Audit committee and recommendation of the external auditor/Non-audit services Disclosure of proxies/AGM Notices Annual Risk Assessment Explanation Subject to the availability of resources, the Board performs periodic internal and external assessments of the performance of the Board as a collective body. During 2014, the Board underwent a corporate governance review by IAASA’s internal auditors which was commissioned by the Board. However, as a regulatory agency established by statute, it is not appropriate to publicise how such an evaluation has been conducted. Periodic and ongoing training for directors occurs as part of the director’s induction and on an annual basis at the Board’s strategic planning and training day. It has not been considered necessary to date for the chairperson to meet with each director to assess, review and agree their individual training and development needs. The Chief Executive is the sole executive director on the Board and has no FTSE 100 directorships. IAASA is not a FTSE 350 company. IAASA does not trade for the acquisition of gain. The C&AG is, in accordance with the Act, IAASA’s statutory auditor. The C&AG does not provide non-audit services to IAASA. Owing to the confidentiality provisions of section 31 of the Act, IAASA it prohibited from disclosing information relating to proxies. As IAASA is a statutory company limited by guarantee not having a share capital, and relies upon an external third party to provide an audit opinion, IAASA provides notices of its AGM within the statutory parameters. IAASA conducts a robust assessment of the principal risks facing the company on an annual basis, but it is not a company trading for profit. As a statutory regulator, IAASA does not consider it appropriate to describe those risks and explain how they are being managed or mitigated, nor does IAASA deem it relevant that an explanation be provided in the Annual Report how the prospects of the company have been assessed.
Annual Report 2014 Irish Auditing & Accounting Supervisory Authority 86 APPENDIX 5 Issuers examined by the financial reporting supervision unit during 2014 Issuer Report type Examination type Reporting date Equity issuers examined during 2014 Aer Lingus Group plc Annual Focused 31-Dec-13 Aer Lingus Group plc Half-yearly Follow up 30-Jun-14 Aminex plc Annual Follow up 31-Dec-13 Bank of Ireland Annual Follow up 31-Dec-13 Bank of Ireland Annual Focused 31-Dec-13 CRH plc Annual Follow up 31-Dec-13 FBD Holdings plc Annual Focused 31-Dec-13 FBD Holdings plc Annual Follow up 31-Dec-13 Grafton Group plc Annual Focused 31-Dec-12 Grafton Group plc Annual Focused 31-Dec-13 Grafton Group plc Annual Follow up 31-Dec-13 Greencore Group plc Annual Focused 27-Sep-13 Independent News & Media plc Annual Follow up 31-Dec-13 Irish Continental Group plc Annual Follow up 31-Dec-13 Kerry Group plc Annual Unlimited scope 31-Dec-13 Kingspan Group plc Annual Focused 31-Dec-13 UDG Healthcare plc Annual Follow up 30-Sep-13 UDG Healthcare plc Annual Focused 30-Sep-13 Closed Ended Fund issuers examined during 2014 Acencia Debt Strategies Ltd Annual Follow up 31-Dec-13 Census Investments 26 plc Annual Unlimited scope 31-Jul-13 Census Investments 26 plc Annual Follow up 31-Jul-14 Crown Global Secondaries II plc Half-yearly Unlimited scope 30-Jun-13 Lyxor Focus Fund (GBP) Ltd Annual Follow up 31-Dec-13 Schroder Private Equity Fund of Funds IV plc Half-yearly Unlimited scope 31-Mar-13 Debt issuers examined during 2014 Allied Irish Banks plc Annual Focused 31-Dec-13 Permanent TSB Group Holdings plc Annual Focused 31-Dec-13 UT2 Funding plc Half-yearly Unlimited scope 28-Feb-14
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Annual REPORT 2014
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Annual Report 2014 Irish Auditing &
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Chapter 1 Overview of 2014
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Chapter 2 Examination of issuers’
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Chapter 3 Supervision of the accoun
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Chapter 4 Governance and structure
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Page 93 and 94: GLOSSARY OF TERMS
Page 97 and 98: www.iaasa.ie
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Annual_Report2014

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