Dublin Road,
Castleshane, Monaghan,
Co. Monaghan, Republic Of Ireland

T: +353-47-85700
F: +353-47-85666
E: info@clerkinfinancial.com


A limited company generally requires audited accounts to be prepared.
But If your company is below the listed thresholds for Audit Exemption it may not require a full audit of accounts.
It may be in a position to claim Audit Exemption. This means that audit exempt acccounts are prepared instead.

For years ending on or after 24th February 2007 the following thresholds apply:

  Less than
Turnover €7,300,000
Gross Assets €3,650,000
Employees 50

For years ending prior to 24th February 2007 the following thresholds applied:

  Less than
Turnover €1,500,000
Gross Assets €1,905,000
Employees 50

There are a list of conditions for availing of Audit Exemption and all the conditions must be met for the year in question and the preceding year.
Among these are two important conditions:

(a) companies limited by guarantee may not avail of audit exemption
(b) the company must be up to date with its filing requirements

For all such conditions see website www.cpaireland.ie and go to Technical, Auditing, Information Leaflets and guidance and "Availing of Audit Exemption"


  Small Medium Large
  Less than Less than Greater than
Turnover €3,809,214 €15,236,857 €15,236,857
Gross Assets €1,904,607 €7,618,429 €7,618,429
Employees 50 250 250

The size of a company determines the extent of both the audit work and reporting requirements necessary in the accounts.


Payment of Preliminary Corporation Tax 21st day of the month prior to the year end (in most cases where the year end date falls at the end of a month eg.31st December)
21st day of the third last month of the year where the year end has a date early in the month.
( ie. 31 days prior to the end of the accounting period, but no later than the 21st day of the month in which that day falls)
Filing of Corporation Tax Returns
21st day of the ninth month after the year end
Payment of Balance of Corporation Tax within one month of the Corporation Tax Return (as long as preliminary tax amounts paid meet requirements)


This is a government office which incorporates companies and registers business names, enforces Company Law and.

holds information on all companies registered in the state making it available to the public

In the case of each company Form B1 together with Abridged Accounts must be filed within 9 months and 28 days after the year end.

In the case of a new company the first B1 Annual Return must be filed without account within 6 months of incorporation.

If you require any information on any of the above or would like us to deal with any of the above listed returns please do not hesitate to contact us.

Click Here to Contact Us with your queries!

Our services:
•  Accounts Preparation / Bookkeeping
•  Annual Audit
•  Taxation – Republic Of Ireland, Northern Ireland
•  Revenue Audits
•  Business Start Up & Company Formations
•  Computer Consultancy & Training
•  Capital & Lump Sum Investments
•  General Insurance
•  Life Assurance & Protection Policies & Savings
•  Pensions
•  Grant Applications
•  Mortgages for Development Commercial & Residential
Registered to carry on audit work and authorised to carry on investment business in the Republic of Ireland by Chartered Accountants Ireland
Principal: Laurence Clerkin, B.Comm., M.A. F.C.A., A.I.T.I, Q.F.A.
© Clerkin & Co 2007. all rights reserved.