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It would be an unlikely situation that your examiner gives you details and issues concerning an insignificant component.
In practice skill, judgement and experience will be applied to determine materiality and therefore significance to the group
Ok?
I read about some 15% level or something to determine if a component is significant. How does that work ?
15% is very much a guide – a suggestion. Where a component of a group has 15% or more of the group assets (without deducting any liabilities) or 15% or more of group liabilities (without deducting any assets) then it is to be considered “significant”
But it could still be considered and treated as significant even if the component’s values fall below the 15% guides
Ok?
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