The European Union has extended consolidation accounting to firms within its member states under a very wide group of circumstances where one firm has substantive control over one or more other firms.

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The European Union has indeed extended consolidation accounting to firms within its member states under a very wide group of circumstances where one firm has substantive control over one or more other firms. This is in line with the International Financial Reporting Standards (IFRS) which require consolidation of financial statements of subsidiaries under the control of a parent company.

The European Union Has Extended Consolidation Accounting to Firms Within