Audit / November 5th 2019

Accounting and auditing for property owned and used within a group

Generally, when a property is used to earn rental income then it will fall under the definition of investment property. The problem is that FRS 102 (Sept 2015) simply states that the where a property that is owned by one group company and is rented out to another group company it should be treated as an investment property.  In the individual company as an investment it should be held at fair …

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