Reporting packs — what each subsidiary should deliver
- Balance sheet mapped to group consolidation lines
- P&L mapped to revenue, costs, EBIT and EBITDA lines
- Cash flow or a bridge to group cash flow
- Intra-group balance schedule covering receivables, payables, revenues and costs
- Lease note and any IFRS 16 adjustments
- Related-party transactions schedule
- Fixed asset roll-forward
- Provision movement schedule
- Deferred tax schedule
- Local GAAP to IFRS bridge where relevant
Eliminations and intra-group reconciliation
Reconcile before upload, not after. Intra-group balances should match before they reach the consolidation file. Every difference means either an error or a policy mismatch, and both need to be resolved early.
- Different recognition dates between group entities
- Foreign exchange differences
- Different accounting policies
- Dividends recognised on one side only
Readiness for group audit
- Group audit instructions distributed to component entities in advance
- Agreed scope with component auditors where applicable
- Schedule of consolidation adjustments with rationale
- Documentation of who approved eliminations and on what basis
- Goodwill impairment support for each CGU
- Group-level narrative on risk, going concern and subsequent events
- List of related parties or entities excluded from consolidation with rationale
Practical shortcut: one consolidation control file with a traffic-light view of each elimination line can cut explanation time with the group auditor dramatically.
FAQ
Common questions
Can group consolidation work if local books stay under Polish GAAP?▾
Yes, but then the CFO must maintain a robust bridge from local GAAP to the group reporting basis, often IFRS, and keep it updated every reporting cycle.
What usually causes the biggest last-minute delays?▾
Late intra-group reconciliations, missing pack instructions and eliminations attempted before the underlying balances are aligned.
See how this applies to your company
If you want to assess what this means for your company, prepare for audit or discuss a specific reporting issue, speak directly with a statutory auditor.
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