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Hi Sir,
What is threshold to be consider as significant component in group audit?
Revenue: ? %
Profit: ?%
Total asset: ?%Thank you sir
I don’t believe that there is a hard-and-fast rule. It really depends upon the subjective assessment of the audit partner but, if there’s too much subjectivity involved, that partner will most likely discuss the matter with the firm’s other partners
OK?
Thank you sir.
if we did calculated that the acquired entity is 5% to group, is this consider as significant component?
As I wonder does it exist threshold like materiality level?
Thanks
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