403 Group accounts: applicable accounting framework
403 Group accounts: applicable accounting framework
Companies Act 2006 | Legislation

(1)     The group accounts of certain parent companies are required by Article 4 of the IAS Regulation to be prepared in accordance with international accounting standards (“IAS group accounts”).

[(1)     The group accounts of a parent company whose securities are, on its balance sheet date, admitted to trading on a UK regulated market must be prepared in accordance with UK-adopted international accounting standards (“IAS group accounts”).]

(2)     The group accounts of other companies may be prepared—

(a)     in accordance with section 404 (“Companies Act group accounts”), or

(b)     in accordance with international accounting standards [UK-adopted international accounting standards] (“IAS group accounts”).