By Andrew Lambe, 27th July 2018
The Company (Statutory Audits) Bill 2017 was signed into law on 25th July 2018 by President Michael D. Higgins and will be commenced into law in the coming weeks.
Some very good news for Accountants and SME’s is that Minister Humphreys’ proposal to amend section 343 of the Companies Act requiring companies to apply to the High Court rather than the District Court for retention of the audit exemption was removed at the eleventh hour. This was a result of hard work and objections by professional advisors and bodies, members of the Accounting profession, and some healthy Dail debate and opposition from Deputies Billy Kelleher, Danny Healy-Rae, Aengus Ó Snodaigh, Jan O’Sullivan, Mattie McGrath and Maurice Quinlivan.
Follow this link for more information and assistance with a Section 343 District Court application, or don’t hesitate to contact Paula Horan at (01) 6461625.
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