consolidated financial statements
Chandu Buddana (13 Points)
21 March 2019
is it mandatory to prepare consolidated financial statements for unlisted companies
3 Replies
Radhey Shyam Jha
(Student)
(1616 Points)
Replied 21 March 2019
Section 129(3) of Companies Act 2013 mandates preparation of consolidated financial statements (CFS) by all Companies, including unlisted Companies, having one or more subsidiaries, joint ventures or associates. Previously, the Securities and Exchange Board of India (SEBI) required only listed Companies to prepare CFS.
CA Amrita Chattopadhyay
(Audit & Assurance)
(13459 Points)
Replied 22 March 2019
Yes, preparation of Consolidated Financial Statement is mandatory if the company has subsidiary, joint venture or associate.
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