Institutes response to the war in Ukraine

Institutes Response

Ukraine crisis resource hub

ICAS has launched a new Ukraine crisis resource hub to keep you updated on the latest information on current sanctions and professional obligations, as well as the support and guidance available.

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Latest on the crisis in Ukraine

Looking for information on Ukraine? We offer a range of resources including updates on developments and support following the invasion of Ukraine.

As a representative body with over 30,000 members and 7,500 students, our thoughts in the first instance are with the men, women and children either directly or indirectly affected by the heart-breaking humanitarian crisis that has ensued. Director of Members, Brendan O’Hora contacted the relatively small number of our members based in Ukraine and Russia to offer any support that the Institute could provide. Director of Education Ronan O’Loughlin did similar on the student side. We have also worked to make sure that members and students are aware of the supports provided by Thrive, and how they can access these.

Given our history of conflict, famine, and other hardships, people on this island have traditionally been some of the most giving in the world, responding generously to those affected by natural or manmade emergencies.

The response has been no less heartfelt in the last month, ranging from welcoming those seeking refuge into homes, to donating to organisations with significant reach such as the Irish Red CrossBritish Red Cross and UNICEF Ireland.

Sanctions in response to crisis in Ukraine

Turning to the economic impact, the last month has also seen the imposition of financial and trade sanctions on Russian and Belarusian officials and other named individuals and entities. It is a criminal offence not to comply with sanctions, and firms which do not comply also risk reputational damage. For that reason, the Institute has an important role to play in assisting members.

To help guide members in ensuring that they are fulfilling their professional obligations in a fast-moving sanctions environment, Chartered Accountants Ireland has created its own resources and has also worked in partnership with its sister accountancy bodies, on this island and further afield.

CCAB joint statement

CCAB joint statement to the profession following recent and on-going developments in Ukraine

The statement relates to the professional obligations of all Members following the imposition of financial and trade sanctions.

Members will be aware of the recent invasion of Ukraine and the ongoing imposition of further financial and trade sanctions on Russian and Belarusian officials and other named individuals and entities, by countries around the world, including the UK and US, as well as the EU.

These recent measures are directly relevant to both ICAS Members in business and practice, as well as to those working in the charity and Not for Profit sector.

On behalf of its five member bodies – ICAS, ICAEW, ACCA, CIPFA and Chartered Accountants Ireland – CCAB has issued a statement on these measures and the professional obligations of all Members.