The Companies (1986 Order) (Investment Companies and Accounting and Audit Amendments) Regulations (Northern Ireland) 2006

PART III ADJUSTMENT OF NON-COMPARABLE AMOUNTS

Adjustment of prior year items in balance sheet and profit and loss account

3.  In paragraph 4(2) of Schedule 4 to the 1986 Order (requirement to adjust non-comparable corresponding amounts in balance sheet and profit and loss account)—

(a) for “shall be adjusted” substitute “may be adjusted”, and

(b) for “particulars of the adjustment and the reasons for it” substitute “particulars of the non-comparability and of any adjustment”.

Prior year disclosures in notes to accounts

4.  Omit paragraphs 58(2) and (3) of Schedule 4 to the 1986 Order (disclosure of corresponding amounts in notes to accounts)(1).

Adjustment of prior year items in small company balance sheet and profit and loss account

5.  In paragraph 4(2) of Schedule 8 to the 1986 Order (requirement to adjust non-comparable corresponding amounts in balance sheet and profit and loss account of small company)(2)—

(a) for “shall be adjusted” substitute “may be adjusted”, and

(b) for “particulars of the adjustment and the reasons for it” substitute “particulars of the non-comparability and of any adjustment”.

Prior year disclosures in notes to small company accounts prepared for members

6.  Omit paragraph 51(2) and (3) of Schedule 8 to the 1986 Order (disclosure of corresponding amounts in notes to small company accounts prepared for members).

Prior year disclosures in notes to small company abbreviated accounts

7.  Omit paragraph 9(2) and (3) of Schedule 8A to the 1986 Order (disclosure of corresponding amounts in notes to small company abbreviated accounts delivered to registrar of companies)(3).

Adjustment of prior year items in balance sheet and profit and loss account of banking companies

8.  In paragraph 4(2) of Schedule 9 to the 1986 Order (requirement to adjust non-comparable corresponding amounts in balance sheet and profit and loss account of banking companies)(4)—

(a) for “shall be adjusted” substitute “may be adjusted”, and

(b) for “particulars of the adjustment and the reasons for it” substitute “particulars of the non-comparability and of any adjustment”.

Prior year disclosures in notes to accounts of banking companies

9.  Omit paragraph 47(2) and (3) of Schedule 9 to the 1986 Order (disclosure of corresponding amounts in notes to banking company accounts).

Adjustment of prior year items in balance sheet and profit and loss account of insurance companies

10.  In paragraph 3(2) of Schedule 9A to the 1986 Order (requirement to adjust non-comparable corresponding amounts in balance sheet and profit and loss account of insurance companies)(5)—

(a) for “shall be adjusted” substitute “may be adjusted”, and

(b) for “particulars of the adjustment and the reasons for it” substitute “particulars of the non-comparability and of any adjustment”.

Prior year disclosures in notes to accounts of insurance companies

11.  Omit paragraphs 54(2) and (3) of Schedule 9A to the 1986 Order (disclosure of corresponding amounts in notes to insurance company accounts)(6).

(1)

Paragraph 58 was amended by Article 6(2) of, and paragraph 10 of Schedule 1 to, S.I.1990/593 (N.I. 5)

(2)

Schedule 8 was substituted by regulation 2(2) of, and Schedule 1 to, S.R. 1997 No. 436 and amended by article 70 of S.I. 2001/3649, regulation 3 of, and Schedule 1 to, S.R. 2004 No. 307 and regulation 14(2) of, and Schedule 3 to, S.R. 2004 No. 496

(3)

Schedule 8A was inserted by regulation 2(3) of, and Schedule 2 to, S.R. 1997 No. 436, amended by regulation 7 of S.R. 2001 No. 153 and regulation 14(3) of, and Schedule 4 to, S.R. 2004 No. 496

(4)

Parts I to III of Schedule 9 were inserted before a re-numbered Schedule 9A by regulation 5 of S.R. 1992 No. 258. Part VI of Schedule 9 was substituted by Article 20(3) and (4) of, and Part IV of Schedule 7 to, S.I. 1990/593 (N.I. 5)

(5)

Parts I and II of Schedule 9 to the Companies (Northern Ireland) Order 1986 were formed into a new Schedule 9A by regulation 5 of S.R. 1992 No. 258. A new Schedule 9A was substituted by regulation 4 of, and Schedule 1 to, S.R. 1994 No. 428

(6)

Paragraph 54 was substituted by regulation 13(7) of, and Schedule 5 to, S.R. 1997 No. 314