This Information Sheet reports on:

• the issue of UITF Abstract 41 ‘Scope of FRS 20 (IFRS 2)’
• the issue of UITF Abstract 42 ‘Reassessment of Embedded Derivatives’
• the UITF’s discussions regarding section 228A of the Companies Act 2005 which exempts an intermediate parent company, which is a subsidiary of a parent established outside the EEA, from the requirement to prepare consolidated accounts if (among other conditions) it is included in consolidated accounts for a larger group that are drawn up in a manner equivalent to consolidated accounts drawn up in accordance with the provisions of the Seventh Directive.