Exempted from the consolidation
Companies can be exempted from the consolidation requirement if they
themselves are subsidiaries of an EU or foreign parent and that parent
publishes a German translation of its own consolidated financial statements in
Germany.
This exemption provision applies to all EU parent companies, and to
those in other countries, such as the United States, with internationally
recognized accounting principles and auditing standards.
The German accounting profession has established an accounting standards
committee (Accounting Standards Committee of Germany) for the debate and
promulgation of nationally acceptable accounting standards.
Its pronouncements primarily interpret the accounting principles of the
Commercial Code in respect of consolidated reporting requirements.
EU Forecast
euf:ba18e:115/nws-01