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WACC is assume to be nortional interest which is 9%. SO you do not need to recalculate the WACC.
I would be appreciate if someone could sent me the mock exam together with the answer. Thank you.(pingping_vv0608@yahoo.com)
But my purchase is done during next financial year. Does it relate to this financial year? Why need to do conso since I gain the control on next financial year.
@lawrencekop said:
is there any caats article?Yes… On 24.11.2011
Please sent to me the mock of Kaplan and bop. Thank you. My email is pingping_vv0608@yahoo.com
@funshine99 said:
It depends on the materiality level of the subsidiary. For example if the subsidiary is immaterial to the group meaning it’s turnover < 0.5% of group revenue, assets are less than 1% of group assets and profit is less than 5% of group profit then I guess you can issue an unmodified opinion on the group financial statements. If the subsidiary is material, you will have to use judgment. If the subsidiary is not audited by you then you can make the amendments yourselves and issue an unmodified opinion. If you are the auditor of the subsidiary then you will have to discuss the matter with the parent's management and then if the refuse to make the amendment you can take the qualification to the group financial statements. I'm not quite sure though you can post this question on ask the tutor.May I know that, will it consider break of confidentiality if we discuss the issue of subsidiary to holding company? Since the management may not allow us to inform current situation of subsidiary to holding company.