We are wondering if Revenue will require we audit our accounts for the company?
If you are going to do this properly ( and you should) then unless one of your number is an Accountant then you are all going to have to pay whatever it costs to set the system up and you are very likely going to be forking out more than 900 each.
im pretty sure that a company limited by guarantee cannot opt for audit exemption.
We pay a maintenance fee of 900 per year so the management company will only take in about 2700 per year.
But if you apply for Audit Exemption as previously suggested this will not be the case.With the increased complexity of auditing standards, and rigid regulation of auditors by the various Institutes, the company could well end up spending the entire €2700 on its annual audit. !
a company limited by guarantee cannot opt for audit exemption.
I have just signed papers applying for audit exemption for a number of limited companies.
Are you telling me that my accountant has got it wrong or am I missing something in this conversation.
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