In our experience, only a minority of Hungarian companies are in the fortunate position to be exempted from the consolidation obligation under local rules by a higher-level parent company. Non-exempt local parent companies therefore have to develop the processes, data reporting systems and methodologies necessary for consolidation themselves, which can be rather challenging. In addition to this, consolidation itself requires a high level of expertise, which is difficult to acquire from textbooks and literature alone.
Our experts have extensive experience in performing Hungarian and IFRS consolidations and in designing the related processes to provide the best possible support to the employees of the companies involved in the consolidation. For groups of companies that do not have the tools to document consolidation properly, KPMG can provide a solution that documents each consolidation task in a clear and traceable way.
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