407 Consistency of financial reporting within group
407 Consistency of financial reporting within group
Companies Act 2006 | Legislation

(1)     The directors of a parent company must secure that the individual accounts of—

(a)     the parent company, and

(b)     each of its subsidiary undertakings,

are all prepared using the same financial reporting framework, except to the extent that in their opinion there are good reasons for not doing so.

(2)     Subsection (1) does not apply if the directors do not prepare group accounts for the parent company.

(3)     Subsection (1) only applies to accounts of subsidiary undertakings that are required to be prepared under this Part.

(4)     Subsection (1) does not require accounts of undertakings that are charities to be prepared

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