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This topic has 3 replies, 2 voices, and was last updated 8 years ago by MikeLittle.

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August 30, 2016 at 5:07 am #336141
anu1234
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- Topics: 78
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Group auditor can’t get full access to subsidiary
What is the impact in group report and why
August 30, 2016 at 8:00 am #336183
MikeLittle
Keymaster
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Depends what the reason is! And whether the restriction is temporary or not. And whether the subsidiary is material to the group financial statements or not
Not a question that is simply answered!
August 30, 2016 at 9:57 am #336199
anu1234
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How do you decide if a subsidiary is material to group ? For account balances and transactions we use benchmarks. What about subsidiary as a whole ?
August 30, 2016 at 12:40 pm #336233
MikeLittle
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Same again would be the ‘normal’ way – values / amounts / volume of transactions
In the exam the examiner will give you relevant amounts that make it abundantly clear that the subsidiary is (or, rarely, is not) material
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