Consolodated Financial Statts

Accounting Standard-21"Consolidated Financial Statements" is mandatory in case of a holding company. 

 three new sub sections have been introduced in sec. 211 requiring compliance of Accountin Standards(issued by ICAI) by all the Companies and disclosure of particulars in case of non compliance. Relevnt Sections of companies act are sec. 211, 211(3C), 217(2AA), 227(obligatory on the part of auditor).

Hi

Is AS-21 is apllicable for pvt limited companies which are unlisted . As per the companies Act The company has subsidary but if i check the accounting standards , it is understood that AS-21 is applicable only to listed companies , can you clrify me .

CA sundari