English to Polish Bus/Financial Finance (general) rachunkowosc

At the FASB’s round-table meeting on consolidation in November 2010, participants asked whether a board of directors (or other governing body) can be evaluated as one party when considering whether a single party holds substantive removal rights. The IASB observed that the function of such governing bodies is to act as a fiduciary for the investors and therefore any rights given to an investee’s board of directors (or other governing body) is *a pass-through mechanism* for the exercise of the investors’ rights. Thus, the governing body itself cannot be considered to have or restrict decision-making authority over the investee. Rather it is the rights given to such a governing body by the investors and their effect on the decision-making authority that should be considered. Consequently, a governing body is not generally viewed as a single party.

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