Companies (Statutory Audits) Act 2018

Jul 27, 2018

The Companies (Statutory Audits) Act 2018 has finished all stages in the Seanad and has been signed by the President.

We welcome the amendment which allows for the loss of audit exemption for the 2 successive years after the late filing of the annual return rather than the retrospective loss which will remove the necessity to file documents for an historical audit. 

In addition we note the amendment to remove the reference to “public auditor” from a number of acts, including the Credit Union Act, 1997 the Industrial and Provident Societies Act 1893 and the  Friendly Societies Act 1896. The term "statutory auditor"  has been inserted in its place.

The full text of the Act will be available on the Oireachteas website in due course and we will inform members regarding commencement of the act as soon as information is available,

The Bill as passed by Dail Eireann is available here