[pericazemun]

Thanks.

If subsidiary statutory profit is 100 but upon PL consolidation it is 80 (removing eg ico sales), are we using 100 or 80 in calculation of consolidated retained earnings as our share of subsidiary profit@

Best regards,
Petat

[pericazemun]

Passed. 70 marks. Finally Affiliate.

[pericazemun]

Thank you very much, got it.

[pericazemun]

Dear Mike,

Thank you kindly for prompt reply.

You are not so lucky, I still did not get it :), the text from OT P7 notes states the reasons for JA “an entity operating from many distant locations may find it useful to have joint auditors.” and “overseas subsidiaries may need to employ local audit firms to satisfy the laws of the country in which they operate.”

eg Group XYZ UK have many subsidiaries in distant locations, one of them is XYZ Country A and their group auditor is one of Big4 UK.

what would be a component audit and what would be a joint audit ?

Thank you again,
Petar

[pericazemun]

passed 50%, first attempt. thank you OT.

[pericazemun]

Passed 58. Thank you OT.

[pericazemun]

passed 🙂 thanks OT

[pericazemun]

Passed with 57%, thank you Mr Mike and opentuition.

[Author]

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