Consolidated of Financial Statements

Dear colleagues,

I would like to ask when an entity is holding less than 50% of the Ordinary Share but it still can lead to the control existing because the following conditions:-

– The parent has the power more than the 50% of the OS from the virtue agreement with other investors
– The parent has the power to govern the financial and operating policies from the statute or agreement
– The parent has the power to remove and appoint the majority members of the BOD.
– The parent has the power to cash the majority of the vote at meeting of BOD.

In this situation, the control existing and this is required to recognise as subsidiary right, so once recognised as Subsidiary we need to conso with this subsidiary also even the entity is holding less than 50% of ordinary share or we just recognised as subsidiary but we need not present conso statement?

Thank you very much.

Wish you all have a very nice day.

Regards,
Elizabeth