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Companies (Statutory Audits) Act 2018 (the “Act”) – Impact on late filing of Financial Statements

New changes in legislation relating to audit and filing requirements for Irish companies was recently introduced and commenced with an immediate effect on 21 September 2018.

One key provision of the Act is important for all Company owners/directors to be aware of in relation to the loss of audit exemption:

Previously, when a Company missed its annual return filing deadline (unless certain exceptions applied), the Company lost the ability to file unaudited Financial Statements with the late Annual Return. With the introduction of the new provision in the Act, this loss of audit exemption commences from the following two years and not the year to which the late Annual Return relates.

If you require assistance with your 2018 Annual Return filing requirements please contact Nicola or Anna on 00 353 (0) 91 704 818

This information is for general information purposes and does not constitute as legal or any other advice

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