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IoD Ireland Responds to Central Bank of Ireland’s IAF Announcement


IoD Ireland is supportive of the announcement today by the Central Bank of Ireland’s decision to defer the application of the Individual Accountability Framework (IAF) to Independent Non-Executive Directors/Non-Executive Directors by one year.

IoD Ireland had submitted responses to the CBI’s consultations on the Individual Accountability Framework and the Administrative Sanctions Procedure, noting that Non-Executive Directors inclusion should be reviewed. We welcome that this recommendation has been acknowledged.

This was announced today by the Central Bank of Ireland’s Governor Gabriel Makhlouf at their Financial Services Conference #FSC2023. The full details will be published by the CBI next week, and IoD Ireland will assess this fully once published.  

IoD Ireland will continue to engage with the Central Bank of Ireland on this key area to represent the views of our members, as the leading representative body in Ireland for directors and business leaders. IoD Ireland’s vision will continue with the aim to make Ireland an exemplar of corporate governance.