Once a company reaches a certain size then they are required to carry out a statutory audit by a qualified auditor with an up-to-date practicing certificate. The size criteria for a company audit are as follows:
Balance sheet total over €6m
Turnover over €12m
Average number of employees over 50
A company must meet 2 of these 3 criteria in order to be required to carry out a company audit
We pride ourselves on our comprehensive knowledge of current, local and international accounting standards and our ability to apply this to assist you with your company’s statutory accounts. On the back of recent changes in company law several Irish and International companies are in a position to file audit exempt statutory accounts with the Company’s Registration Office (“CRO”) rather than incurring the costs of having those accounts audited. You can also request a company audit if you feel the need. For example, companies that wish to sell in the future will request a statutory audit as a potential buyer will have greater confidence in the figures. This can help increase the selling price. Shareholders that do not work in the business can request a statutory audit of the accounts to have peace of mind that the business is being run correctly and the financial position is accurate. Our team of internal auditors will ensure your statutory audits are carried out in a timely manner and meet all of the requirements laid out by the company’s registration office.
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