The Institute of Chartered Accountants in Ireland has welcomed the indication of the Government's intention to increase the audit exemption threshold to €1.5 million from its current rate of €317,000.
The Government's intention to increase the threshold is signalled in its published amendments to the Companies Bill.
"Obviously we welcome this indication of Government intentions," ICAI Deputy President Mr Terence O'Rourke said.
"This proposal would bring the threshold up to the levels currently prevailing in Northern Ireland thereby eliminating the competitive disadvantage that Irish business have been facing in that regard."
However, the British Government recently decided to increase the threshold in Great Britain to £5.6 million sterling to put that country more in line with our European partners.
If and when that threshold is applied to Northern Ireland, Irish companies will be put at a disadvantage once again, Mr O' Rourke said.
"ICAI also welcomes changes to the controversial Compliance Statement as set out in the Government amendments," he added.
"If passed these will only apply to larger companies thereby excluding small companies from its remit."