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| Audit
& Accountancy |
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| HLB
Nathans, whilst carrying out all the statutory functions of Auditors,
is very conscious of the need businesses have for constructive
suggestions, and will at all times offer assistance in any area
where it's expertise can add value. The basis of effective financial
advice is a thorough knowledge of the client – their operations,
outlook and financial status. HLB Nathans is a registered auditor and
our audits provide a vital insight into the performance & operation
of your company. |
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 Preparation of Statutory
Financial Statements in Ireland |
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 All
limited companies in Ireland are obliged to prepare statutory
financial statements, regardless of the statutory requirement
to have an annual audit in Ireland. HLB Nathans
will assist your company with the preparation of the statutory
financial statements, and ensure the financial statements
comply with the relevant accounting standards and Irish
company law. We will also prepare the relevant financial
statements for filing with the Companies Registration
Office in Ireland.
We communicate with our corporate clients throughout the
year on new issues arising in financial reporting in Ireland
and keep them abreast of any changes in Irish company
law relevant to their business.
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| Audit in Ireland |
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The
annual audit in Ireland is a statutory requirement
for all limited companies, except for those companies
who have availed of audit exemption having met the
necessary criteria.
HLB Nathans is a registered auditor in Ireland. The firm has a
specialised audit division with a wide range of experience of the audit
function, in a number of different busines sectors.The primary
objective of the annual audit in Ireland is to provide assurance that
the financial statements are free from material mis-statement, whether
caused by fraud or error. HLB Nathans approach to the annual audit is
to ensure this objective is achieved as efficiently as possible, while
having a secondary objective of providing added value to companies, by
way of constructive observations arising from the audit.
HLB Nathans auditors adopt a risk based approach
to each audit assignment we undertake. The audit
focuses on the key audit risk areas, which are derived
from our knowledge and understanding of the entity
for whom the audit assignment is being carried out.
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| Audit Exemption |
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The
option of audit exemption is available to some companies
in Ireland where a number of criteria are satisfied
(See details below for relevant criteria), and given
the advent of the more rigorous International Standards
on Auditing and the associated increase in the cost
of the audit, the audit exemption option should
be seriously considered by the directors of a company
where the criteria have been satisfied, and there
are no other relevant factors as to why the company
should continue to have an audit.
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| Criteria
for Audit Exemption |
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For
periods commencing on or after 24 December 2006 (and periods commencing
prior to 24 December 2006 and ending on or after 24 Feruary 2007);
- The company is a company to which 1986 Companies
Act applies; and
- The amount of the turnover of the company does not
exceed €7,300,000; and
- The fixed assets plus current assets of the company
must not exceed €3,650,000; and
- The average number of persons employed by the company
does not exceed 50; and
- The company is not a parent undertaking or subsidiary
undertaking.
In
addition to the conditions (1) to (5) above the
annual return of the company to which the current
financial year’s accounts will be annexed,
and the annual return to which the previous financial
year’s accounts were annexed must be lodged
on time with the Companies Office.
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| Management accounts
and bookkeeping services |
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HLB
Nathans has the resources available to provide management accounts for
your business on a monthly, quarterly basis etc. Our in house
computerised accounting facilities are geared to the preperation of
management accounts on a regular basis.
The
availablilty of management accounts on a regular basis can provide you
with the up to date information requried to run your business
effectively.
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| Contact |
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For
further information contact john.callaghan@hlbnathans.com |
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