There are a number of key aspects of the Companies Act 2014 that companies need to be aware of and implement accordingly:
1. Conversion of private limited companies
The conversion to a new form private limited company by shares (LTD) or a designated activity company (DAC) should be completed before the 30th November 2016. Every company incorporated prior to the 1st June 2015 should complete the conversion in good time prior to the 30th November 2016.
2. Audit Committees
Large companies need to assess whether to form an audit committee. The thresholds for an audit committee include:
3. Directors Compliance Statements
Companies with a turnover in excess of €25m and a balance sheet (gross assets) in excess of €12.5m are required to
Ray Masterson is Audit Director in OSK. Contact OSK Accountants & Tax Advisers for further details on the Companies Act 2014 or in relation to our tax and accounting services.
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