Seanad debates

Thursday, 29 May 2003

Companies (Auditing and Accountancy) Bill 2003: Report and Final Stages.

 

It may be that the Minister of State has taken a step I do not understand, but does this apply to a private company? On two occasions yesterday, the Minister of State said it was an option for a private company not to do so. My concern on the last occasion on which we saw the Bill was that a later section referred to a failure to do so and another section referred to an offence. It was stated that failure would represent an offence. Yesterday, however, the Minister of State twice said that a private company had the option not to do so and that the word "failure" has been removed. The word "fail" is still present and I am concerned about that.

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