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Group accounts: omission of subsidiaries
 

Where subsidiary companies are omitted from group accounts, indication of the following must be given: (1) the reason why they are not so dealt with; (2) the aggregate profit or loss of those subsidiaries, attributable to the holding company, for the current year and previous years since acquisition; (3) any qualifications by the auditorsin the accounts of the subsidiaries; (4) the total value of shares in subsidiaries, and amounts owing to and from subsidiaries; (5) any shares held by the subsidiaries in the holding company.

Reference: The Penguin Business Dictionary, 3rd edt.