# The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Paragraph 29: Foreign currency translation


Any income and expenditure of undertakings included in the consolidation and associated undertakings in a foreign currency may be translated for the purposes of the consolidated accounts at the average rates of exchange prevailing during the financial year.

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Source: https://www.legislation.gov.uk/ukdsi/2008/9780110806303/schedule/6/paragraph/29 (the official version)
Page: https://openlegislation.uk/draft-large-and-medium-sized-companies-and-groups-accounts-and-reports-regulations-2008/schedule-6/paragraph-29
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.