Breeda Moynihan-Cronin (Kerry South, Labour)
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Question 1089: To ask the Minister for Enterprise, Trade and Employment the reason community and voluntary groups with limited company status are not entitled to avail of an audit exemption up to a certain amount; and if he will make a statement on the matter. [1202/07]

Micheál Martin (Cork South Central, Fianna Fail)
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The current position under the Companies Acts 1963 to 2006 is that every company must appoint an auditor to examine and report on the accounts of the company unless the company comes within a class of company entitled to avail of exemption from this requirement. A number of classes of company are currently entitled to avail of such exemption, subject to certain conditions being met. Companies pursuing community or voluntary activities tend not to fall within the scope of these classes of company.

Bearing in mind the role of the preparation and auditing of company accounts in providing assurance to interested stakeholders, I am not convinced that it would be in the public interest to extend further the current categories of audit exemption.