Companies

Small businesses to get second chance at audit exemption

Under proposed changes to law, late-filing companies will not automatically be required to pay for an audit

Dara Calleary with Ian Drennan, CEA’s chief executive. Calleary said he was ‘very cognisant’ that the loss of audit exemption can have a significant impact on small and micro-sized companies. Picture: Mark Stedman

Thousands of small companies will be given a second opportunity to avoid losing out on audit exemption as part of suggested changes being brought forward by the government.

Fianna Fáil minister Dara Calleary has said he was “very cognisant” that the loss of audit exemption can have a significant impact on small and micro-sized companies.

An audit exemption saves a smaller firm from the expense of a full audit every year. To qualify for an ...