By john
The commencement of Section 22 of the Companies (Corporate Governance, Enforcement and Regulatory Provisions) Act 2024 on 16 July 2025 provides for a change to the current audit exemption regime.
Late annual returns filed up to midnight on 15 July 2025 will require an audit for the following two annual returns.
Effective from midnight on 15 July 2025 audited financial statements are required if a company filed late twice in the last 5 years.
The 5-year reference period is effectively starting from midnight on 15 July 2025 for companies who are not currently filing audited accounts due to loss of audit exemption for late filing of annual returns preceding the enactment.