# Taxation (International and Other Provisions) Act 2010, Section 488: Meaning of “IAS financial statements”


(1) References in this Part to “IAS financial statements” of a worldwide group for a period are (subject to subsection (2)) to consolidated financial statements of the worldwide group's ultimate parent and its subsidiaries, drawn up in respect of the period in accordance with international accounting standards.
(2) If the worldwide group is at all times during the period a single-company worldwide group, the references are instead to financial statements of the ultimate parent, drawn up in respect of the period in accordance with international accounting standards.

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Source: https://www.legislation.gov.uk/ukpga/2010/8/section/488 (the official version)
Page: https://openlegislation.uk/taxation-international-and-other-provisions-act-2010/section-488
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.