PracticeAuditIrish accountants welcome threshold increase

Irish accountants welcome threshold increase

Overwhelming support for government decision

Certified public accountants in Ireland have welcomed the government’s
decision to increase the audit exemption income threshold from €1.5m (£1m) to
€7.3m. (£4.9m)
According to The Institute of Certified Public Accountants in Ireland, 97% of
practicing member were in favour of the decision made by the minister for trade
& commerce.

ICAI president Padraig O Feinneadha said the decision would have ‘far
reaching consequences for our profession, but our members have overwhelmingly
welcomed the proposal to increase the audit exemption income threshold’.

‘It is expected that the move will yield significant benefits for Irish
companies and will help them compete on an equal footing with their European and
UK counterparts,’ he added.

140 practices from throughout Ireland responded to the CPA survey on audit
exemption.

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