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Directors Loan Disclosure

  • 08-06-2011 12:22pm
    #1
    kennyb3
    Registered Users, Registered Users 2 Posts: 6,724 ✭✭✭


    Quick query - in relation to a small audit exempt company adopting the FRSSE. are loans from Directors required to be disclosed as part of the FRS8 note and name the director involved and loan amount?

    And if so does it apply to undrawn salary as much as a 'specific' loan to the company?


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  • #2
    barneystinson
    Registered Users, Registered Users 2 Posts: 4,685 ✭✭✭barneystinson


    kennyb3 wrote: »
    Quick query - in relation to a small audit exempt company adopting the FRSSE. are loans from Directors required to be disclosed as part of the FRS8 note and name the director involved and loan amount?

    And if so does it apply to undrawn salary as much as a 'specific' loan to the company?

    Company law only requires disclosure of loans to directors, and I've seen several sets of audited accounts (of medium size companies) recently, from a couple of different practices, where loans from directors weren't included in a note. Not that that means they're right of course!


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