Ireland
Financial Reporting Obligations for Companies in Ireland
1. Registry for Submission of Financial Statements
In Ireland, companies must submit their financial statements annual reports to the Companies Registration Office (CRO) (https://www.cro.ie/). The CRO is the central repository of public statutory information on Irish companies and business names.
Registry Name (Local Language): Oifig um Chlárú Cuideachtaí
2. Legal Forms Obligated to Publish Financial Statements
The following legal forms in Ireland are required to submit financial statements to the CRO:
- Private Company Limited by Shares (LTD)
- Designated Activity Company (DAC)
- Public Limited Company (PLC)
- Company Limited by Guarantee (CLG)
- Unlimited Company (UC)
- Societas Europaea (SE)
Legal forms not obligated: Partnerships – not required to submit financial statements unless they are a limited partnership with an entity subject to publication requirements.
Note: Sole traders and traditional partnerships are not required to file financial statements with the CRO unless they have opted for limited liability status.
3. Companies Required to Audit Financial Statements
The following conditions dictate which companies in Ireland must audit their financial statements according to the Companies Act 2014:
| Legal Form | Rule | Criteria |
| Private Company Limited by Shares (LTD) | Must audit financial statements if exceeds criteria | Turnover (more than) €12 million Total assets (more than) €6 million Employees (more than) 50 |
| Designated Activity Company (DAC) | Must audit financial statements if exceeds criteria | Turnover (more than) €12 million Total assets (more than) €6 million Employees (more than) 50 |
| Public Limited Company (PLC) | Must audit regardless of size | All PLCs are required to audit their financial statements |
| Company Limited by Guarantee (CLG) | Must audit financial statements if exceeds criteria | Turnover (more than) €12 million Total assets (more than) €6 million Employees (more than) 50 |
| Unlimited Company (UC) | Must audit financial statements if exceeds criteria | Turnover (more than) €12 million Total assets (more than) €6 million Employees (more than) 50 |
| Societas Europaea (SE) | Must audit regardless of size | All SEs are required to audit their financial statements |
4. Stock Exchange Reporting Requirements
Companies listed on the Irish Stock Exchange are required to publish their financial statements there (https://live.euronext.com/en/markets/dublin).
5. Deadline for Submission of Financial Statements
The deadline for submitting financial statements to the CRO is generally:
- 9 months after the end of the financial year for private companies
- 6 months after the end of the financial year for public companies
6. Partial Financial Statements
Some companies, such as small and micro companies, may be allowed to submit abridged financial statements, which include a reduced level of detail.
- Small Company: Turnover (no more than) €12 million, Total assets (no more than) €6 million, Employees (no more than) 50
- Micro Company: Turnover (no more than) €700 000, Total assets (no more than) €350 000, Employees (no more than) 10
7. Consequences of Late Submission
- Fines: Penalties starting from €100, increasing daily until submission
- Legal Actions: Directors may be prosecuted, and the company may face court actions
- Strike Off: The company may be struck off the register, ceasing to exist as a legal entity
8. Reporting Requirements for Foreign-Owned Branches and Newly Established Companies
Foreign-owned branches operating in Ireland are required to file copies of the parent company’s financial statements. Newly established companies must submit their first financial statements within:
- 18 months of incorporation or 9 months after the end of the first financial year, whichever is earlier
Sources
|
Source |
Link |
|
Companies Registration Office (CRO) |
|
|
Companies Act 2014 |
https://www.irishstatutebook.ie/eli/2014/act/38/enacted/en/html |
|
Irish Stock Exchange (Euronext Dublin) |
| Start Companies Search | Order Credit Report |
Keywords
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