If in the director’s opinion, subsidiary is immaterial, then it is acceptable to exclude it from the consolidation.
What is meant by material and immaterial? Please kindly explain, sir.
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Meaning of material and immaterial
11y ago#1Subjectivity is a major element here! Together with the necessity of the agreement of the auditors!
I imagine in practice that, for a subsidiary to be considered to be immaterial, it pretty much must be a dormant company - but I don't know!
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