Are you worried that you have filed your financial statements late and consequently you may have lost your entitlement to an audit exemption? Prior to the Companies Act 2014, if a Company failed to file its annual return within 28 days of the ARD, it was subject to late filing fees of up to €1,200 per year, but also lost its audit exemption and was required to file audited accounts for the following two years. However, the Companies Act 2014 introduced a remedy for a Company to apply to the Court to extend the time in which a Company has to file a missed Annual Return, thus keeping its audit exemption and not being subject to late filing fees. If you find yourself in this situation and you wish to retain your audit exemption please do not hesitate to contact our team on 01 677 9000 or by email: info@cooneycarey.ie. If this article helped you, please share it with other businesses.