The publication cannot be relied upon to cover any specific situation and you should not act, or refrain from acting, upon the information contained therein without obtaining specific professional advice. The information in this publication is subject to change at any time and therefore we give no assurance or warranty that the information is current when read. This publication is not legal or financial advice and should not be relied upon as such. This publication has been carefully prepared, but is general commentary only. Our August 2022 newsletter noted that the Australian Securities and Investments Commission (ASIC) did not intend to override the exemption that applies under paragraph 4(a) of AASB 10. its ultimate or any intermediate parent produces financial statements that are available for public use and comply with IFRSs, in which subsidiaries are consolidated or are measured at fair value through profit or loss in accordance with this Standard…’.it did not file, nor is it in the process of filing, its financial statements with a securities commission or other regulatory organisation for the purpose of issuing any class of instruments in a public market and. ![]() its debt or equity instruments are not traded in a public market (a domestic or foreign stock exchange or an over-the-counter market, including local and regional markets).it is a wholly-owned subsidiary or is a partially-owned subsidiary of another entity and all its other owners, including those not otherwise entitled to vote, have been informed about, and do not object to, the parent not presenting consolidated financial statements.‘…a parent need not present consolidated financial statements if it meets all the following conditions:
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