Required: You are required to undertake independent research to prepare this presentation. Adopting the accounting ecology framework developed by Gernon and Wallace (1998), each group must provide a...

ACCG326 – GROUP PRESENTATION
ACCOUNTING ECOLOGY OF IRELAND
Table of Contents
Introduction    3
Economy of Ireland    3
Ecology Framework    3
Political System    3
Legal System    3
Accounting System    4
Organizational System    4
Professional System    5
Issues Associated with Accounting Standards of Ireland    5
Investment Opportunity in Ireland    5
Conclusion    6
References    7
Introduction
According to Gernon and Wallace (1998), the accounting ecology theory involves "five separate yet interacting slices" of the environment: personal, institutional, academic, individual and accounting. The social environment refers to elements within a society that are systemic (economic system, political system, and legal system), cultural and non-cultural (geographic and demographic characteristics). The organisational environment refers to the size of the organisation, technology, complexity and culture, and the resources of human capital.
Economy of Ireland
Being a little open economy, the financial prosperity of Ireland is largely based on free trade and is influenced by global markets. This means that exporting organisations abroad is important and that Ireland can only do that in cooperation with other Member States as a major aspect of the European Union. The European Commission's Spring 2019 European Monetary Gauge forecasts a modest GDP growth of 3.8 percent in Ireland due to the decline in external assistance (Perera & Chand, 2015).
Organisations residing in Ireland are required to carry out bookkeeping activities according to the needs of the widely recognised Irish (GAAP). It is important to do the bookkeeping process with the aid of Irish bookkeepers who are aware of the latest changes that may happen over the years. Although the general standards for this process remain as before, most provisions can be modified in a brief period. 
Ecology Framework
Political System
The president is the head of state, as is now Michael D Higgins. With an immediate submission, the presidential decisions are held as a clockwork. The president recommends the Taoiseach to nominate Dail Eireann and selects government ministers on the advice of Taoiseach. The Republic of Ireland is a system based on parliamentary vote represented by the Oireachtas, made up of the president and the administrator. The legislator has two chambers, a House of Representatives, Dail Eireann, and a senate or upper house, Seanad Eireann. Parliament has the principal and elite administrative power (Rossi et al. 2016). The Dail is exclusively liable to change the constitution for the beginning of tickets or demands. The Seanad has moved forces to amend the Dail’s requests and petitions.
Legal System
According to Irish legislation, all organisations should prepare verified expenditure summaries (as per IFRS guidelines), except inert organizations, restricted hazard organizations, limited liability organizations and organizations which meet other size requirements. Confirmed changes must usually be approved within nine months after the end of the year. The calendar year does not need to be used by an agency. If affirmed, the documents of restricted duty organisations must be registered at the office of the corporation where they are openly available. Unlimited state substances are not allowed under specific conditions to show their records.
Accounting System
The Republic of (Ireland) as an...