The long and winding road to compliance

The new director's compliance law is expected to cost some companies millions of euro a year.

Despite this, most companies and financial advisers are in the dark about the start date for the law. The legislation, the Companies (Auditing andAccounting Act) 2003,polices auditing and accounting bodies and introduces new compliance obligations for directors.Under the law, directorsmust assess their firm's compliance with company law, tax law and other key areas. As a result, businesses have been bracing themselves for significant increases in auditing, legal and internal administration costs. However, uncertainty ...