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Consolidated (Group) Financial Statements Services

Who Has to Present Consolidated (Group) Financial Statements

Under FRS110, when a parent is an entity that controls another, a parent is required to present consolidated financial statements.

However, a parent company is exempted from consolidated financial statement if one of following criteria is met:

  1. Exemption under FRS110.4(a), or
  2. Exception: Parent company that qualifies as ‘Investment entity.



  • Y is wholly owned by X, or NCI in Y do not object
  • Y is not listed
  • Y is not in the process of being listed, and 
  • X produces consolidated financial statements in accordance with SFRS(1) or FRS and available for public use.


Investment Entity

  • obtains fund from one or more investors for purpose of providing those investors with investment management services
  • commits to its investors that its business objective is to invest funds solely for returns from capital appreciation and/or investment income
  • measures and evaluate substantial all of its investment on a fair value basis.

What can we offer:

  1. Consolidated management accounts, including consolidated balance sheet, income statement and working paper
  2. Unaudited consolidated financial statements