Audit & Accountancy
At Nestor & Co we have nearly 30 years experience in providing business assurance and audit services to owner managed businesses, Credit Unions, the charity sector and companies limited by guarantee, such as property management companies. We take the time to understand our clients’s business activity, so that the audit can be useful to all stakeholders. Our fees are competitive and we are committed to producing a quality product, on time and within budget.
Under current legislation most small companies are exempt from statuary audit. The criteria for exemption is as follows;
The company must meet two out of the three following conditions in the current financial year and in the previous financial year.
- Have a turnover of less than €8.8M
- Have less than 50 employees
- Have a balance sheet value of less than €4.4M
Furthermore, the exemption is only available to companies who have filed their annual return with the Registrar of Companies on time in the current and preceding year. Some companies are specifically excluded from audit exemption, because of their ownership structure or by virtue of what they do.
Nestor & Co can advise you on the matter of audit exemption.
Even if a company is exempt from statutory audit it must produce full financial accounts and abridged accounts. This applies even in a family company. There are many benefits in having company accounts prepared, not least the valuable financial information accumulated, which is critical for the successful management of the business.
At Nestor & Co we work with many of our clients, to produce the financial accounts. It is always our objective to complete the task, as efficiently as possible and at minimum cost.
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