Most of the provisions of the Companies (Accounting) Act, 2017 came into effect on the 9th of June 2017 and makes a number of changes to the 2014 Act. The main changes are:
- The new Act transposes the EU Accounting Directive into Irish law.
- The directive deals with annual financial statements, consolidated financial statements and related reports of certain types of undertakings.
- The 2017 Act introduces changes to the preparation and governance of financial statements and related reports of companies.