Companies (Accounting) Act 2017

19-06-2017

The Companies (Accounting) Act 2017 (the “2017 Act”) amends, updates and supplements the Companies Act 2014 (the “Companies Act”). The primary purpose of the 2017 Act is to transpose Directive 2013/34/EU on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings (the “Accounting Directive”).

The 2017 Act came into force with effect from 9 June 2017 (other than the provisions in relation to external companies) with the new accounting requirements applying in respect of financial years which commence on or after 1 January 2017. The CRO has also confirmed that the related filing obligations will only apply in respect of financial years which commence on or after 1 January 2017.

Read more on key changes here….