Special Audit Exemption for Dormant Companies (New)

Audit Exemptions There is only one section under this rubric, Section 365, and it is new. It enacts the view that companies which are in a group, but classified as dormant, should be able to qualify for an audit exemption. A dormant company is one which has no significant accounting transactions in the relevant year…...

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Requirements for Audit Exemption

Audit Exemptions The requirements for an audit exemption were up until now set out in Sections 32, 32A, 33 of the C(A)(No 2)A 1999. Now they are set out in Section 358 et seq. There is one new section – Section 364 – which states that a holding company and its subsidiaries are not entitled…...

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Small and Medium Companies: Disclosure Exemptions, etc.

Audit Exemptions Under what conditions will a company qualify to be treated as a small or medium company? The conditions are set out in Section 350 and they are not new – they are an amended re-enactment of s 8 of the C(A)A 1986. The only difference is that the qualifying conditions have been increased…...

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Group Financial Statements: exemptions & exclusions

Audit Exemptions Under Irish company law there has been an exemption from the requirement to prepare consolidated financial statements where a group of companies is preparing Companies Act group financial statements and where the group meets certain size criteria. This exemption is re-enacted in Section 297. The qualifying conditions are that (1) the balance sheet…...

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