The Corporate Enforcement Authority (CEA), Ireland’s dedicated company law enforcement agency, has released its second annual report, highlighting a year of robust action and strategic progress. As the CEA advances its 2022–2025 strategy, the 2024 report offers a compelling narrative of enforcement, advocacy and engagement with the business community.
Throughout 2024, the CEA demonstrated its commitment to maintaining the integrity of Ireland’s corporate landscape. Its multi-faceted approach was evident in its handling of over 270 public complaints; nearly 200 statutory reports from auditors, examiners and process advisors; and more than 980 statutory reports from liquidators, focusing on the conduct of directors in insolvent companies.
This vigilant oversight produced tangible results: 98 company directors faced restrictions and 22 were disqualified from holding directorships. The CEA’s enforcement activities also led to 52 court orders, 145 witness statements and seven arrests – all clear indicators of its determination to address breaches of company law. Four investigation files were submitted to the Director of Public Prosecutions and criminal convictions were secured for offences ranging from furnishing false information to the Registrar of Companies to acting as a director while disqualified, as well as for deception and theft.
At the heart of the CEA’s work is a commitment to supporting stakeholders (company members, shareholders and creditors) in exercising their rights under company law. By ensuring adherence to procedural, governance and transparency standards, the CEA not only addresses non-compliance but also protects the broader public interest. The restriction and disqualification of directors of insolvent companies serves as a critical safeguard, ensuring that those who fail to meet requisite standards are held accountable.
The CEA’s impact extends beyond enforcement. Through accessible guidance materials and proactive outreach, it engages with company directors, business groups, professional bodies and students. These advocacy efforts foster a culture of compliance and help demystify company law for all stakeholders.
The CEA’s operations are carried out by its multi-disciplinary team, which includes accounting and legal professionals, seconded members of An Garda Síochána and digital forensics specialists. This blend of expertise equips the CEA to tackle a wide range of challenges, from document production and electronic evidence gathering to search, seizure and arrest operations.
As the CEA continues its journey, the 2024 Annual Report reflects its dedication to promoting compliance, investigating breaches and taking decisive action. Through a careful balance of enforcement and education, the CEA is shaping a corporate environment where transparency and accountability are the norm, benefiting businesses, stakeholders and the public alike.
CEA’s Annual Report 2024 can be accessed at https://cea.gov.ie/en-ie/Annual-Reports-Strategy
