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RPT disclosure medium sized group

FRS 102 section 33

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says 'Disclosures need not be given of transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly owned by such a member'

By 'transactions' does this mean also don't need to disclose year end balances ..apart from those between subsids which are not wholly owned. ACCA helpline says dont need to [they are shown as amounts due from/to group undertakings anyway]..an audit contact at a top 4 firm says year end balances do need to be disclosed separately...

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By paul.benny
06th Apr 2020 17:49

I've never disclosed the individual counter-parties for balances between group companies when reporting under FRS101 or 102.

Does your Big4 contact have a supporting reference for their assertion?

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By OC
07th Apr 2020 14:35

I agree.
And no, which makes me think they are mistaken

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