New regulations to take effect from 1 July 2024

The European Union (Adjustments of Size Criteria for Certain Companies and Groups) Regulations 2024 will take effect from 1 July 2024 increasing the balance sheet and turnover thresholds for micro, small, medium and large companies in the Companies Act 2014 by 25%.  More companies are set to benefit from an audit exemption and abridged reporting requirements under the new legislation.  Click here to read the Department’s press release.