Alan Kelly (Tipperary, Labour)
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568. To ask the Minister for Jobs, Enterprise and Innovation the reason for the delay and the proposed timeframe for the Companies (Accounting) Bill 2016 being enacted. [15447/17]

Mary Mitchell O'Connor (Dún Laoghaire, Fine Gael)
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The Companies (Accounting) Bill 2016 passed all Stages in Dáil Éireann on 22 March 2017. It is scheduled for Second Stage in Seanad Éireann on 4 April 2017. The timing of enactment of the Bill will depend on the availability of parliamentary time.

Both the Bill and the Accounting Directive (Directive 2013/34/EU), which it transposes, are technical pieces of legislation. This has meant that a number of complex issues have arisen during the transposition process. As a result, enactment has taken longer than hoped.

In order to mitigate the effects of this delay, section 14 of the Bill provides that companies may apply, in certain circumstances, provisions of the Bill to financial statements in respect of financial years that commenced in 2015 and later.