Dáil Éireann Debate, Tuesday - 8 April 2014
258. Deputy Peter Mathews asked the Minister for Jobs, Enterprise and Innovation his plans to amend the Companies Bill 2014 to include (details supplied) in respect of accounts for small businesses; and if he will make a statement on the matter. [16007/14]
Amharc ar fhreagraSection 359 (as initiated) of the Companies Bill 2012 sets out the main conditions that must be complied with in order for a company to be able to avail itself of an exemption from having its statutory financial statements audited. These requirements come from existing law and are set out in S.32 of the Companies (Amendment) (No 2) Act 1990. It states that the audit exemption applies to a company for a particular financial year if the directors make a decision that the company should avail of it, and that decision is recorded in the minutes of the meeting. Furthermore the directors must be of the opinion that the company will satisfy the size conditions set out in S.359 (6) of the Companies Bill 2012 in respect of that particular year, and (unless the particular year in question is the first financial year) the company also satisfies the conditions in respect of the preceding financial year.
I have no plans to introduce an amendment to the Companies Bill along the lines referred to by the Deputy.
