By Andrew Lambe, 25th June 2025
The CRO held their stakeholders meeting this morning and unfortunately could not give a further update on the keenly awaited changes to audit exemption rules as part of the remaining provisions to be commenced under The Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024. As soon as we have further news we will of course update you.
The CRO also gave an overview on processing times and are currently taking 6 working days to process new company formations due to a lack of resources. With regard to annual returns, they are currently processing between the 16th and 19th May. This is not expected to improve in the short term as we head into what was referred to as annual leave season.
With regard to enforcement, they are currently in the process of striking off companies without directors. In the next wave of enforcement action, they will be targeting companies that have failed to make RBO filings. These companies are also open to prosecution, with 5 district court cases set for 14th July.
