Dáil Éireann Debate, Friday - 16 September 2016
1870. Deputy Josepha Madigan asked the Minister for Jobs, Enterprise and Innovation when she will transpose into law the EU Accounting Directive; the method and timeframe in which this will occur; when the FRS105 standard will be accessible to micro entities; and if she will make a statement on the matter. [24822/16]
View answerThe Companies (Accounting) Bill 2016, which was published on 5th August last, will transpose Directive 2013/34/EU (the EU Accounting Directive) into Irish legislation.
I plan to initiate the Bill in the Dáil at the earliest opportunity after the recess. The timeframe for passage and enactment thereafter will depend on the availability of parliamentary time.
FRS 105 is the Financial Reporting Standard applicable to the Micro-entities Regime.
The Bill introduces provisions for a new category of micro company, which is a subset of the category of small company. Accordingly, FRS 105 will be available to micro companies once the Bill is enacted and commenced.
