My accountancy company (accountancy firm) provides investment advice. We are currently regulated by our Institute. We provide life insurance products. Can the company file abridged financial statements and claim audit exemption?

In order to be able to benefit from the small companies exemptions, the company must be meet the conditions as a small company. Section 280A of CA 2014 (assuming it is a standalone company) sets out the requirements in order to be considered a small company. One of the conditions to be a small company is that […]

My client has a group of companies, one of the companies has missed its ARD – do all of the companies have to be audited?

Yes where any member of the company misses its annual return date then no member within the group can avail of audit exemption (S.364(2)(3)(4) CA 2014). The only exception to this is where the first annual return (i.e. 6 month annual return) is missed, the group does not get excluded from audit exemption. The ARD […]

My company has a late annual return that pre-dates 1 June 2015, can the company apply to the District court for a Section 343(5) Application?

No, as from the 17th May 2016, the CRO and the District court will not accept applications with an Annual Return Date dated before 1 June 2015 as the old Act applies in this situation. Under the old Act there is a requirement to apply to the High Court which is more costly.

My company has a shareholders agreement in place, does the shareholders agreement override anything included in the Constitution?

Yes where a shareholders agreement is in place it takes precedence over the Constitution. Usually the Constitution will refer to a shareholders agreement taking precedence over the Constitution.

My company has a shareholders agreement in place, does the shareholders agreement override anything included in the Constitution?

Yes where a shareholders agreement is in place it takes precedence over the Constitution. Usually the Constitution will refer to a shareholders agreement taking precedence over the Constitution

My company has successfully extended its annual return date by going down the Section 343 route/Court route. What steps do I need to take when I am completing this annual return on CORE?

When filing this return on CORE you will follow the same procedure as you would follow when filing a normal B1-annual return. When filing in the B1 the annual return date to use is the actual annual return date for the company (you do not input the date of the extension). Therefore the shareholding etc. […]

My company is part of a group in Ireland which is below the small group thresholds however it is ultimately owned by a large worldwide group – does this need to be audited?

Where the group taken as a whole, which would include all companies in a group outside of Ireland, are in excess of the small group thresholds stated in S.359 Companies Act 2014 then this Irish group would need to be audited (even if the group within Ireland meets the conditions in S.359 Companies Act 2014). The only exception here […]

My company is selling a non-cash asset to a director. What company law considerations are required to be considered?

When a company is selling an asset to a director, the company law considerations that must be followed are: Section 238 requirements Section 238 of CA 2014 states that a director of a company or its holding company or their connected persons (as defined in Section 220 of CA 2014) cannot enter into an arrangement where: that person acquires […]