Across:
1 Rail transport (tram = TRA-M-) taking in university (-U-) and academy (-A) (TRAUMA) arrives at a shocking time (TRAUMA),
4 Went downhill (WORSENED) to sort (= anagram indicator) newer sod (newer sod = WORSENED),
9 Recall from memory (RECITE), fortune lost by counterfeiter (‘fortune’ lost by ‘counterfeiter’ = cteier = RECITE),
10 Ruby (ruby/red = RE-D) consumes fish (plaice) we hear (= homophone indicator) (‘plaice’ = ‘place’ = -PLACE-) (REPLACED) that was used as an alternative (REPLACED),
12 Season (PEPPER-) on (-ON-) island (-I) (PEPPERONI) goes down well with the Italians (PEPPERONI),
13 Look for damages (-SUE) after (= positional indicator) minor relative (Sis) loses the head (s) (‘sis’ without ‘s’ = IS-) (ISSUE) with the heirs (ISSUE),
14 Don’t fail to honour (KEEP ONE’S WORD) what loyalist promised to do (KEEP ONE’S WORD),
18 The possibility of a job (OPENING) at sea (= anagram indicator)? Thing (thing = NIGHT) (OPENING NIGHT) is, it’s all for show – the first of many if those play-actors are successful? (OPENING NIGHT),
21 Rig comes off ring road (‘rig’ comes off ‘ring road’ = nroad = ADORN) in Trim (trim/decorate = ADORN),
22 Hears a (hears a = SHEA- -AR) model (= anagram indicator), outside movie with boyfriend (date = -D A TE-) (SHEAD A TEAR), react to a moving picture, for example (SHEAD A TEAR),
24 VIP (LUMINARY) in The Sun, of old? (LUMINARY),
25 Work out (DEVISE) old leader (Eamon de Valera = DEV-) is (-IS-) close to dilettante (close/end to ‘dilettantE’ = -E) (DEVISE),
26 Exercises (PRESS-UPS) journalists’ (PRESS-) union (-U-) with pressure (-P-) on society (-S) (PRESS-UPS),
27 Beat one’s drum continuously (BANG ON) for the locals? That’s completely right! (BANG ON).
Down:
1 Circle (TURN) associated with leaderless (u) UKIP? (‘UKIP’ without ‘u’ = kip) Revolting (= reverse indicator) (kip = PIK-) type – in the end (‘typE’ in the end = -E) (TURNPIKE) offering an old road that comes at a price! (old toll gate/road = TURNPIKE),
2 Taken (ACCEPTED) to Bar (bar = except) Hearing (= homophone indicator) (‘except’ = ‘accept’ = ACCEPT-) by journalist (-ED) (ACCEPTED),
3 Content of divertimento (content of ‘divERTIMento’ = ertim) jazzed up (= reverse indicator) (ertim = MITRE) in corner joint (MITRE),
5 The meteorite that did it for the dinosaurs (ONE-HIT WONDER) – for the record, is that why we never heard from them again? (ONE-HIT WONDER),
6 Major (SOLDIER) characters at the end of 27 across (end of ‘bang on’ = ON) (SOLDIER ON) don’t give up (SOLDIER ON),
7 Splashed (= anagram indicator) scent – I (scent I = NICEST) find it most pleasant (NICEST),
8 Fail to move steadily (totter / DODDER) running through Dublin (DODDER river),
11 Fail to maintain a handle on (LOSE ONE’S GRIP) local freak (local ‘freak’ = LOSE ONE’S GRIP),
15 Postpone (postpone) adaptation (= anagram indicator) (postpone = OPPO-ENTS) over direction (North = -N-) (OPPONENTS) of The Rivals (OPPONENTS)
16 Not taking issue with (AGREEING) reggae in (reggae in) medley (= anagram indicator) (reggae in = AGREEING),
17 Principal Skinner (principal ‘Skinner’ = S-) gets time (-T-) to inspire (urge on = -URGEON) (STURGEON) one of those from school (STURGEON from school of fish),
19 Allow (allow) cook (= anagram indicator) (allow = WALLO-) to prepare starter (‘Prepare’ starter = -P) (WALLOP) in batter (WALLOP),
20 Stylish (cool) short (l) (‘cool’ without ‘l’ = COO-) Frenchman (Monsieur = -M-) going to Belgium (-BE) (COOMBE) for hospital in Dublin expecting deliveries (COOMBE),
23 Set off from near east (‘set’ off from ‘near east’ = neara = ARENA) for the sports stadium (ARENA).