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sir,
Can a company ever be exempted from consolidation?
if yes when.
i believe there has been some revisions in IFRS 3 and IFRS 5 on this area.
if you could kindly clear my doubt in this area.
Regards
Jatin1 Immaterial subsidiary
2 a wholly owned subsid which itself has subsids does not need to prepare consol accounts
3 where parent no longer has control, eg an administartor has been apppointed or a lender has the power to appoint a majority of directors ( though strictly, if it no longer has control, the “subsid” is no longer a subsid – it fails now to satisfy the definition as being “a company under the control of another”
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