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Companies (Accounting) Act 2017

Jul 28, 2017

The Companies (Accounting) Act 2017 (CA 2017) was enacted and commenced (with the exception of one section) before the summer.

CA 2017 introduces a wide range of amendments to the Companies Act 2014 (CA 2014). It simplifies the company law financial reporting requirements for small and micro companies (establishing the Small Companies Regime and Micro Companies Regime respectively), while also making a series of amendments to the company law accounting and disclosure requirements for other companies not adopting either regime.

It introduces a new requirement on certain large and public-interest companies involved in the mining, extractive or logging industries, to prepare and file a report annually on payments made to governments.

The law on filing requirements has also been amended - for example, by introducing new filing requirements for certain unlimited companies and investment companies.

Chartered Accountants up and down the country are continuing to familiarise themselves with the new and amended requirements and have the task of reflecting them in their work.

This month’s edition of Accountancy Ireland includes an article by Mark Kenny, the Institute’s Director of Representation & Technical Policy, providing an overview of key reporting and filing-related changes introduced by CA 2017.

To read the article in full, click here.