Deferred tax issue among those raised by auditors

Problems with how companies are recognising deferred tax assets as well as the quality of credit risk disclosures are among the issues highlighted by the Irish Auditing & Accounting Supervisory Authority (IAASA) in its annual report.

The IAASA regulates the nine accounting bodies in the State which between them have 32,641 members and 1,603 statutory audit firms.

As it stands, individual complaints over auditing standards are handled by the relevant accounting body.