Auditing & Compliance

Can your company afford a hefty fine?  Would your company survive if the directors were prohibited from acting as directors?  Would your company's reputation survive a prosecution in court? 

These are real and possible scenarios for you and your company if non compliance with ever increasing company law comes to the attention of regulators.  The Office of the Director of Corporate Enforcement (ODCE) is actively seeking and successfully prosecuting companies for breaches of company law.  You only have to look at their website for examples and the company directors are solely responsible for maintaining compliance - no excuses are accepted.

http://www.odce.ie/en/court_disqualifications.aspx

The changing economic conditions and challenges now facing all businesses, together with increasing legislation and regulation, have put greater emphasis on the importance of the statutory audit.  We understand those challenges faced by companies today, particularly those faced by SMEs.  The introduction of International Auditing Standards has led to a more risk based audit approach which leads us to focus on the areas that matter to the business.  We identify the risks faced by the company, the way management control those risks and ensure transparency in reporting to stakeholders.  Our experienced audit team tailor the audit to suit the needs of the individual company and we ensure an accurate and fair presentation of information in the financial statements.

Recent legislation has further increased the 'audit exemption' limits significantly which may exclude the company from the obligation of audit.  However, the exemption status may not be suited to all company circumstances.  We would be happy to discuss your company's individual needs and the advantages and drawbacks of audit exemption.

Rosie Loye
Company Secretary
Email: rloye@kmr.ie

 

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