Everyone woke up on the morning of 1st December 2016 and the sun shone (I think) and life continued as normal. One of the biggest deadlines in the history of Company Law in Ireland had passed and like Y2K nothing happened and life moved on. Approximately 26% of private limited companies choose to either convert
A revised version of the Governance Code for Community, Voluntary and Charitable Organisations was published on 27th October, 2016. The Code is principles-based and is adopted on a “comply-or-explain” basis. It comprises a set of recommended practices for the boards of community, voluntary and charitable organisations. In late 2015 the Governance Code Working Group (GCWG)
At some stage, most professional advisors will be required to take minutes of a meeting, be it a management meeting, client meeting or a formal board or members meeting. It is often seen as a chore and what should be recorded differs from one set of minutes to another. The ICSA: The Governance Institute have
The Console scandal is just another example of the lack of implementation of governance standards in the charitable sector. The public are shocked when these cases get highlighted but we have to understand where these organisations start from and how they are funded and the experience of the persons that end up running the organisations.
Since the historic vote for Britain to leave the EU there has been a lot of discussion and debate on the impact of the Brexit on Ireland. A small part of this is the impact from a Company Law perspective. A lot of the exemptions in the Companies Act apply to companies that are resident
The ODCE and the professional accountancy bodies have developed a technical release TR 03/2016 on Reporting Company Law Offences: Information for Statutory Auditors. This has been updated in accordance with the Companies Act 2014. Download the ODCE TECHNICAL RELEASE TR 03/2016 The purpose of this Technical Release is to assist the statutory auditor in applying
In recent months we have seen a number of high profile companies such as Petroceltic and Petroneft at which resolutions have been put forward by shareholders to remove directors from the board. We have also seen a noticeable increase in queries and engagements to remove directors from SME companies. There are various reasons for this
We have written about cases before the Courts where directors have been restricted or disqualified to highlight to directors the important role they play in a company and to remind them of their duties and responsibilities. Many of the cases such as the Glenda Gilson case show the directors being restricted or disqualified. A&L Goodbody
We have a group of companies with one of the companies in the group is regulated by the Central Bank. Can the rest of the group avail of audit exemption? One of the most welcome provisions of the Companies Act 2014 was the introduction of group audit exemption. Sec 359 provides that a small group
Section 633 of the Companies Act 2014 (“2014 Act”) introduced mandatory qualifications for persons undertaking work in relation to the winding up of companies. For the first time in Irish law, there are now minimum requirements for those wishing to act as liquidators in the context of corporate insolvency. In summary, the categories of those