ICAI calls on Government to announce date of new audit rules

The Institute of Chartered Accountants in Ireland (ICAI) has called on the Government to avoid "further unnecessary and confusing" delay around the introduction of the new audit exemption level by announcing the date from which it will apply.

In December the Companies Act 2003 was amended to increase the turnover level at which companies are exempt from having their annual accounts subjected to a statutory audit from €317,000 to €1.5m.