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Accounts and Audits - Exemption Thresholds

PRACTICE AREA GROUP: Corporate
DATE: 20.10.2012

The Minister for Jobs, Enterprise and Innovation has made an Order increasing the balance sheet total and turnover thresholds for the purpose of availing of audit exemption to €4.4 million and €8.8 million respectively.

The exemption is provided for under the Companies (Amendment) (No. 2) Act 1999 as amended by the Investment Funds Companies and Miscellaneous Provisions Act 2006.

The Minister has also made an Order to give effect to Directive 2006/46/EC increasing the balance sheet total and turnover thresholds set out at Section 8 (2) of the Companies (Amendment) Act 1986 for the purposes of availing of certain accounting exemptions for small companies to €4.4 million and €8.8 million respectively.

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