The Companies (Statutory Audits) Act 2018 was passed on 25th July 2018. A commencement order was signed on 21st September 2018.
Posts Tagged: ARD
Every company is required to comply with the Companies Act and on an annual basis prepare and file financial statements and hold an AGM. Typically this is a service provided to companies by the Company Secretarial Advisors such as CLS Chartered Secretaries or the accountant or solicitors.
Companies miss the annual return filing deadline for various and legitimate reasons and the penalty for missing the filing deadline even by one day is very severe! A company that files late must will lose audit exemption for the following two financial years. This can have a significant impact on the viability of an SME company.
After a number of significant proposals in the committee stages, the Companies (Statutory Audits) Act 2018 has not changed the ability of companies who are late in filing an annual return to apply to the District Court to retain the audit exemption and avoid paying late filing penalties. When the Bill was introduced, it was
It was good while it lasted but all good things come to an end at some stage and CRO have brought an end to the get out of jail card for filing late returns. From 1st April 2018, B1’s will be automatically rejected where the B1 signature page or overall certificate is not signed; or
The introduction of mandatory electronic filing forced all presenters and companies to electronically file annual returns. Most people have had experience in electronic filing but like any process there are challenges and issued to be aware of. This article will attempt to highlight some of the important areas to consider in advance of the deadline