Accounting Structure Of Ireland : An Introduction

1855 Words Jun 15th, 2015 8 Pages
Accounting in Ireland
Aaron Paller
Saint Leo University

ACC430

Accounting structure in Ireland: An Introduction Accounting in Ireland has realized remarkable fame and achievement. In business, the professionals in the country are active as executives and managers, and members and leaders of company boards. Moreover, in professional practice, the accountants handle the audit or consultancy needs of corporations, charities, and government. The resourceful profession of accountancy in Ireland shows how the field has achieved this success. Informed by its examination of the wider social and business background, North, and South, the history explains how Irish accountancy was able to restructure itself, its composition and services, as new prospects are opened. In the post-Famine world, the accounting structure in Ireland was primarily focused on law-related activities—tidying up estates, bankruptcies, with some book-keeping. Their key relationships were with the legal profession. It was the world in which the first professional association, the all-island Institute of Chartered Accountants in Ireland, was set up in 1888. In 1900, it became compulsorily for limited companies to have an annual audit, and throughout the disastrous World War 1 the government was compelled to take much more stringent steps to tax collection. Hence, the twin assignments that were to characterize the middle period, book-keeping audit, and tax compliance bloomed. In the 1970s…
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