PREPARATION OF CONSOLIDATED FINANCIAL STATEMENTS OF HOLDING COMPANIES IN ACCORDANCE WITH INTERNATIONAL FINANCIAL REPORTING STANDARDS

Abstract

It is difficult to overestimate the importance of subsidiaries of credit institutions for the group, especially in the context of active attraction of financial resources to the group's capital. Depending on the specifics of the group companies ' activities and their needs, a subsidiary credit institution may change its functions. For example, a subsidiary credit institution may act as a financial promoter, technical contractor for transactions, investment adviser for IPO and M&A transactions, analyst, appraiser or asset manager. As a result of these processes, the consolidation of subsidiaries of credit institutions has become an integral part of the preparation of consolidated financial statements.