ROLE OF ACCOUNTING AND CONTROL PROCEDURES IN PROVIDING A SUCCESSFUL MANAGEMENT OF THE ACCOUNTS CONSOLIDATION PROCESS

In numerous cases, there are significant differences among the evaluation andpresentation rules applied by entities, members of a group, concerning the elaboration of individualfinancial statements. In their turn, the consolidated financial statements should allow ahomogenous representation of the whole, which is made up of entities included within theconsolidation perimeter. For this reason, prior to the achievement of accurate consolidationoperations, a series of homogeneity re-treatments are necessary in order to remove all differencesexisting between the accounting rules applied for drawing up individual financial statements andthose applicable to consolidated accounts determined by aggregating individual accounts ofentities included within the consolidation perimeter.