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My client which is a small group wants consolidated audited accounts for its shareholders but would like to file abbreviated accounts.
This is the first year they have had subsidiaries. In the past they have had audited accounts and have filed audited abbreviated accounts. They were and are still small on both a stand alone and group basis. Looking at the reports available in Iris there do not seem to be abbreviated consolidated accounts. Looking at the check list options in the Mercia audit manual there is no mention of abbreviated group account. This leads me to assume that abbreviated group accounts do not exist.
Hence the interest in preparing the shareholders accounts on a consolidated group basis but the abbreviated on a standalone basis. Is this acceptable.