BUDGET 2018 – BUILDING THE REPUBLIC OF OPPORTUNITY

BUDGET 2018 – BUILDING THE REPUBLIC OF OPPORTUNITY         The Minister has tried to appease all by giving a small amount to all by means of some tax cuts/benefits and some welfare increases. TAXATION In Taxation the benefits are spread over Income Tax (“IT”), Capital Gains Tax (“CGT”), Capital Acquisitions Tax (“CAT”) […]

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Graduates 2018

Ormsby & Rhodes is currently recruiting graduates for its audit department to commence training contracts in September / October 2018.  Our audit department deals with a variety of clients covering a wide range of sectors.  During their training period trainees will also gain experience in other areas of our work such as taxation, payroll, insolvency […]

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Ormsby and Rhodes’ feature in the Sunday Business Post

Ormsby and Rhodes’ feature in the Sunday Business Post As one of Ireland’s longest established accounting firms, Ormsby & Rhodes in the heart of Dublin city has seen the not-for-profit (NFP) sector evolve to what it is today. It has advised clients in the sector, promoting astute corporate governance at all times. And as the […]

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Charities – The Story So Far

internal audit function for charities

The charities Bill became Law in 2009. Apart from some minor sections of the Act that became operative some time ago under Ministerial Order, nothing significant was activated until this year when the Minister for Justice established the Charities Regulatory Authority. It is hoped that the existence and operations of the Authority will successfully regulate […]

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COMPANIES ACT 2014 – Summary Approval Procedures

COMPANIES ACT 2014 Summary Approval Procedures One of the changes under the Companies Act 2014 is the introduction of Summary Approval Procedures which will make it easier for LTD, DAC and Companies Limited by Guarantee to enter into certain transactions which in the past were either prohibited or needed Court approval. The new procedures set […]

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Companies Act 2014 – Compliance statement & audit exemption

Directors Compliance Statements and Audit Exemption for small groups Directors Compliance Statements The directors of companies with balance sheet totals in excess of €12.5m and turnover in excess of €25m must draw up a compliance statement as part of the directors report in relation to compliance with certain company and tax law provisions.  Larger companies […]

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Companies Act 2014

Codification of Directors Duties and Responsibilities The Act codifies Directors Duties and Responsibilities for the first time which are essentially based on old common law rules. The following duties are set out in Section 228 as follows: Directors must act in good faith in the interests of the company Directors must act honestly and responsibly […]

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FRS 102

The new Financial Reporting Standard applicable in the Republic of Ireland and the UK from 1 January 2015 The Financial Reporting Council (FRC) in the UK published a new accounting standard in March 2013 (amended August 2014) known as FRS 102. This accounting standard will replace a raft of previous standards known as Generally Accepted […]

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Modern Business Way: Outsourcing Your Payroll

Companies in Ireland look to save time and money and effectively manage their flow of operations that ensure them proper business continuity. One of the key practices undertaken by modern businesses is outsourcing their payroll to expert accountancy firms. Payroll outsourcing is commonly described as the practice of contracting third-party accountancy firms to handle all […]

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5 Things You Should Know About iXBRL

There is a growing need to find the appropriate instruments for flawless and quality financial reporting which can improve transparency among financial data users and easier decision-making processes within the financial departments. Managers, investors, analysts and financial institutions make decisions based on the financial statements making the reliability and accuracy of these financial statements a […]

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