QuestionsCno 436
Rahul bansalrahul bansal asked 5 years ago

Sir in controversy
Ind as 110 provides 3 exemption for consolidation. 
1) …… 
2) how if intermediary satisfy all the condition then consolidation of parent company will be effected. Those Conditions are meant for subsidiary only. That if subsidiary follows the 3 condition then subsy will not be required to file consolidation. But parent has to file consolidation on behalf of subsidiary. 
Plz explain

1 Answers
RaviRavi Staff answered 5 years ago

Yes parent has to prepare consolidated financial statements , exemption is for intermediary subsidiary