Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael) | Oireachtas source

We do not think it is that onerous to ask companies to file every year at the same time and on the same date. We both agree that 90% of companies are compliant. We want our companies to be compliant.

The Senator made a passing comment, which I want to take him up on, namely, that the Civil Service likes the status quo. This is in fact a progressive Bill. For example, we have introduced a provision for micro-companies which have fewer than ten employees, a turnover that does not exceed €700,000 and a balance sheet that does not exceed €350,000. They will be exempt from reporting requirements and, accordingly, will not have an audit. While the Senator said there are many companies contacting him, there are many micro-companies contacting me to have this Bill enacted as quickly as possible.