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From the Professional Accountancy team…... The Irish Companies Office has confirmed recently that it plans to start prosecuting liquidators for non-filing offences before the end of 2026. We understand that  prosecutions will be preceded by a publicity campaign to afford offending liquidators the opportunity to get their filings up to date. The forms in question are forms E3 and E4. The  form E3 is an account of the liquidator’s acts and dealings where the liquidation is not completed within 12 months. The form E4 is the liquidator’s statement of account under section 681 of the Companies Act 2014. Failure to comply makes the liquidator guilty of a category 3 offence. That is, liable on summary conviction, to a class A fine (up to € 5,000) or imprisonment for a term not exceeding 6 months or both.   This information is provided as resources and information only and nothing in these pages purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the pages. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of these pages, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained in these pages.  

From the Professional Accountancy team…... The Irish Companies Office has confirmed recently that it plans to start prosecuting directors and companies for non-filing of annual returns. It is understood that this will recommence later in the year. The filing obligation arises under Section 343 of the Companies Act 2014 and if a company fails to comply with the requirements of the section, the company and any officer of it who is in default is guilty of a category 3 offence. That is, liable on summary conviction, to a class A fine (up to € 5,000) or imprisonment for a term not exceeding 6 months or both.   This information is provided as resources and information only and nothing in these pages purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the pages. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of these pages, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained in these pages.

The Financial Reporting Council (FRC) announced a package of measures regarding audits of small and medium-sized enterprises (SMEs). This includes an updated practice note (PN 28) regarding 'Guidance for audits of small and medium-sized entities' and the final report regarding the FRC's SME Audit Market Study. This information is provided as resources and information only and nothing in these pages purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the pages. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of these pages, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained in these pages.