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:

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

Note:

FRS110.4(a)

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:

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

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