The Institute of Chartered Accountants in Ireland (ICAI) has today said that agreement between the European Parliament and the European Commission on company size thresholds would leave Irish small and medium entreprises a long way behind their European counterparts.

BUSINESSES could be hit with a €500 million bill to implement changes to the Companies’ Act requiring directors to say they are compliant with every aspect of the law.

Taoiseach Bertie Ahern has announced a review of the provision relating to Directors' Compliance Statements contained in the Companies Act, 2003.

The Institute of Chartered Accountants in Ireland (ICAI) has welcomed the proposed increase in company size thresholds governing reporting requirement, which were recommended in the second report of the Company Law Review Group (CLRG).

Michael Halpenny has taken up his appointment as SIPTU national industrial secretary with responsibility for commercial semi-state bodies.

430 companies and 30 directors were convicted by the Companies Registration Office (CRO) for company law offences last year.