Consolidation

 

Introduction

Exemptions from the requirement to prepare group financial statements apply under financial reporting standards (Old FRSs, IFRSs, and the new FRS 102 (New Irish GAAP: applicable for accounting periods commencing on or after 1 January 2015). The exemptions as set out in the Act (sections 297 to 303) essentially mirror these exemptions. These exemptions are synopsised below: