Can I claim audit exemption?

Audit exemption - Chair in the middle of a road

AUDIT EXEMPTION FACTS:

Small & Micro Companies

In order to avail of audit exemption, a company which is not a member of a group, must qualify as small in respect of the financial year in question in accordance with section 280A of CA 2014. The qualifying conditions for a small company are satisfied by a company in relation to a financial year in which it fulfils two or more of the following requirements:

- The amount of turnover of the company does not exceed €12 million (increased from €8.8m by the Companies (Accounting) Act 2017);

-The balance sheet total of the company does not exceed €6 million (increased from €4.4 million by the Companies (Accounting) Act 2017);

- The average number of employees of the company does not exceed 50 (section 280A).

The company must have filed it’s annual return on time with the CRO for the current and preceding year.

The above is an extract from a cpa publication and is for general guidance purposes only. Please contact an accountant to find out more.

 

today to find out more.

Why choose us?

Dublin Accountants, Edward F. Molloy & Co. are based in Terenure, a short distance from Dublin city centre. We are a Dublin firm of Registered Auditors & Accountants. As you can see, we have a wide range of clients. We prepare financial statements for small sole traders and audit larger corporate entities with the same attention to detail and high level of service.

First Consultation FREE

We will explain the services we provide in detail and find the best package of services to suit you.

Evening Appointments

As we realise you may not wish to take time out of your work day to meet us, we can arrange a late evening appointment.

Company Formation

Our pack includes a company seal and company register. We also complete the first CRO B1 return to be filed six months after incorporation.

Claim Audit Exemption

We can explain how to claim audit exemption and prepare and file non-audited financial statements at competitive rates.

Company Voluntary Strike-off

We can undertake this process, including financial statements preparation, the placement of required newspaper advertisement and tax deregistration.

Audit Services

If you do not qualify for audit exemption for any reason, as Registered Auditors, we can audit your financial statements.