Through boom and bust, BK has continued to help keep us profitable and they are a great source of positive encouragement. Nothing is too much trouble. I would recommend BK without hesitation to anyone in business or thinking of starting a business – BK is a firm of accountants who are professional, knowledgeable, experienced and who will go the extra mile.
With the increase in the audit exemption limits in recent times many Irish companies now fall into the category of being Audit Exempt.
To qualify your company must fulfill the following criteria;
- The company is a company to which 1986 Companies Act applies, i.e. a Private Limited Company; and
- Turnover does not exceed €8.8 million; and
- Fixed Assets plus Current Assets of the company does not exceed €4.4 million; and
- The average number of persons employed does not exceed 50 ; and
- The company is not a parent or subsidiary undertaking
- The company must not come within one of 19 classes of companies listed in the Second Schedule to the 1999 Act – see Attorney Generals website for Second Schedule
In addition, in Ireland, if a company’s annual return for the current year or the previous year was not filed on time, the company cannot avail of the audit exemption.
All limited companies in Ireland are obliged to prepare statutory financial statements whether they be audit exempt or not.
In conjunction with our bookkeeping and management accounts services we will assist your company with the preparation of statutory financial statements , and ensure the financial statements comply with the relevant accounting standards and Irish Company Law. We will also prepare the relevant financial statements for filing with the Companies Registration Office in Ireland.