Micro Company regime

SeanSouth

Just looking for some guidance on the new Micro Company filing regulations

I have a company that qualifies for the Micro Company filing simplification regulations under the 2017 act.

I'm a bit confused by the latest exemption rules. I am seeking audit exemption but in several places where i've read, it seems to suggest that confirmation of this exemption must be signed off by the auditor. (I dont have an auditor, Im audit exempt !!)

If i'm just seeking audit exemption and no other exemptions associated with micro companies, can anyone point me towards the appropriate wording to be attached to the financiual statements on submission.

Many thanks

SS

Paddy001

The CRO discusses it here: https://www.cro.ie/Annual-Return/Financial-Statements-Requirements/Micro-Company

However I would suggest you engage a professional as there are a lot more changes than just the balance sheet statements.

SeanSouth

Thanks Paddy

I might have been unlucky but the professionals , I have spoken to so far appear to be still scratching their heads in relation to the most basic requirements of the 2017 act. I would neither engage them or waste my time (and certainly not my money) on that quality of service.

Having already waded through all the latest statutes myself including the 2014 act, the 2017 act, FRS102 and FRS105, I am merely asking for a small bit of help in relation to the requirement of the 2017 act to have auditor certification in relation to BOTH exemptions specified in the micro company regime regulations.
Now the question : Am I right in concluding that an auditor needs to certify that the micro company qualifies for exemption status under the micro company regime and further certification that the accounts have been properly prepared ? If this is true I will not be availing of the Micro Company simplifications and will instead prepare accounts in accordance with FRS 102 as before.

Thanks for any help in advance

HeinekenTicket

Look at information leaflet Info Leaflet 23 v3 Final.pdf published by the CRO. This is a good source of information for what you are looking for, specifically pages 8 and 9 of that document.