Seanad debates
Wednesday, 28 May 2003
Companies (Auditing and Accounting) Bill 2003: Committee Stage.
10:30 am
Derek McDowell (Labour)
I endorse what Senator O'Toole said. It is always a little difficult to insert sections into Acts. My understanding of this section is that it only applies to large private companies where the balance sheet is more than €25 million or the turnover is more than €50 million. We are talking about substantial companies. There are undoubtedly family companies in this country which exceed those limits but there are not many of them.
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