Lucan Accountants, Wicklow Accountants, Sheehan & Associates - audited accounts

By: Sheehan & Associates  05/12/2011
Keywords: Audit Exemption

By law, your company must carry out an audit if a number of conditions exist of which the more popular are;

  • The company is not a Private Limited Company
  • The amount of turnover of the companyexceeds  €7.3 million
  • The balance sheet total of the company is more than €3.65 million at the end of its financial year
  • The average number of employeesexceeds 50
  • The company must not be a parent company or a subsidiary company
  • The company's annual return was not delivered to the CRO on time (within 28 days of the company's Annual Return Date)
  • The company's Annual Return for the previous financial year was filed late with the CRO

Some companies may meet all the conditions for the Audit Exemption and still choose to have an Audit.

If your company requires an audit the we will;

  • Meet with you to discuss your individual requirements
  • View your books and records and quote you a fee before starting any work
  • Keep you updated on each step of the audit process
  • We can visit your premises to do our audit work or if you prefer take all the files away and work in our office
  • Offer advice on ways you can make your internal controls stronger & more efficient

You can expect to receive;

  • A fast & reliable set of Audited Financial Statements
  • All the relevant returns completed with the Audited Accounts (Corporation Tax, CRO)
  • If you require it we can offer monthly / quarterly management accounts
  • A quality service by experienced staff that will explain everything to you in plain English
  • We can attend your Annual General Meeting to present the accounts if required
The information in this article was current at 02 Dec 2011

Keywords: Audit Exemption

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