Michael Carey announced his resignation from the boards of Enterprise Ireland and The Housing Agency due to late filings for his company, East Coast Bakehouse. He cited management errors and the need to change auditors as contributing factors to the delays. Carey emphasized there are no financial issues at East Coast Bakehouse, with all accounts prepared for submission by early July. He expressed regret over the situation and acknowledged the broader issue of delayed filings affecting thousands of companies annually.
I accept personal responsibility for the failure of the business to comply with this corporate governance requirement and the heightened requirement to fully comply, as chairman of a number of state boards.
The delay has been exacerbated by an unanticipated need for a decision by our board to change our auditors.
This issue of late filing at East Coast Bakehouse has received particular media attention due to my role as chairman of these state agencies.
There is no suggestion of any financial issues at the company; the accounts for these periods are completed and the fully audited accounts are expected to be filed in the CRO by early July.
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