IS AN AUDIT ALWAYS REQUIRED FOR IRISH COMPANIES?
Directors of Irish companies are required, pursuant to the
Companies Act 2014 (the “Act”), to
ensure that financial statements for a company are prepared on an
annual basis (the “Financial
Statements”). The Financial Statements for each
financial year must give a true and fair view of the assets,
liabilities and financial position of the company as at the end of
each financial year.
As a general rule, Irish companies are required to appoint a
statutory auditor to audit the company's Financial Statements
on an annual basis. That said, certain private limited and
unlimited companies which meet a number of specific conditions may
be entitled to avail of an exemption from the requirement to have
their Financial Statements audited in a given financial year (the
“Audit Exemption”).
