Companies Act 2014 Consolidation Exemption

The 2014 Companies Act is still in it’s infancy but one part that accounting students should be aware of is the section on consolidation exemption for companies preparing accounts under Irish/UK GAAP (FRS):

FRS102 Consol Exemption.JPG

Note that the above consolidation exemption is not available to companies preparing accounts under IFRS although there are separate exemption criteria for IFRS companies outlined in IFRS 10.



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