ABSTRACT
The Seventh Company Law Directive on consolidated accounts has not been implemented in Ireland and as of the time of writing (November 1990) the Department of Industry and Commerce (the ministry with responsibility for company law) has no firm plans for drafting the appropriate enabling legislation. 1 Thus, consolidated accounts are governed by the provisions of the Companies Act 1963 and the Companies (Amendment) Act 1986 2 which implemented the Fourth Directive as well as by the relevant Statements of Standard Accounting Practice, namely SSAP 1: Accounting for Associated Companies (ASC 1982), SSAP 14: Group Accounts (ASC 1978), SSAP 22: Accounting for Goodwill (ASC 1989) and SSAP 23: Accounting for Acquisitions and Mergers (ASC 1985).
