What is Statutory Audit?
An audit is as an official inspection of an organisation’s accounts, typically by an independent body. Many companies, depending on their size are likely to require an audit, but are unsure what an audit is and when is it needed.
Under the Companies Act 2014, any incorporated entity which exceeds any two of the following criteria in the current and preceding financial year must have a statutory audit:
- Turnover exceeding €12 million
- Balance Sheet total exceeding €6 million
- More than 50 employees
In addition to the legal requirement to have a statutory audit, for growing businesses or companies considering a sale, an audit can provide assurance that everything is in order and the business is compliant with
How can we help?
As no two businesses are the same, similarly no two audits are the same. Having established our audit department across a broad range of businesses and industries, we customise our audit approach to meet the