Following the commencement of the Companies (Accounting) Act 2017 on 9 June 2017, Irish companies can now, if applicable, avail of FRS105 The FInancial Reporting Standard applicable to the  Micro-Entites Regime

FRS105 can be adopted by companies for accounting periods commencing from 1 January 2017 but may also be back-dated to accounting periods commencing as early as 1 January 2015.

Under FRS 105 qualifying micro companies will not have to disclose details of directors’ remuneration, profit and loss account or include a director’s report in their filed financial accounts.

FRS105 is not available to charities and not for profit entities, regulated entities and groups.

Company Size Criteria under 2017 Act


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