1. Irish Company Law
  2. Legislation (IE)
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  1. Companies Act 2014 (No. 38)
  2. Schedule 4A Accounting Principles, Form and Content of Group Financial Statements for Companies Subject to the Small Companies Regime
  3. Schedule 4A, Part III Accounting Principles and Valuation Rules (paras. 7-23)
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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 9 June 2017 - onwards
    Version 1 of 1    

Schedule 4A, Part III Accounting Principles and Valuation Rules (paras. 7-23)

ACCOUNTING PRINCIPLES

General

7. In determining the amounts to be included in the group financial statements, the accounting principles and valuation rules contained in Part III of Schedule 3A shall apply and shall be applied consistently within those group financial statements.

8.

(1) Subject to subparagraph (2), a holding company shall apply the same methods of valuation in drawing up its group financial statements as it applies in drawing up its entity financial statements unless the group and entity financial statements are drawn up under different accounting standards; and if so the applicable accounting standards shall be disclosed in the notes to the group and entity financial statements and the reasons given.

(2) Subparagraph (1) shall not apply where, in the opinion of the directors, a departure from that paragraph is necessary for the purpose of giving a true and fair view.

(3) Where there is any application of subparagraph (2), the particulars of the departure and the reason

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