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Best Answer
RaviRavi Staff answered 1 year ago

it is not a technical word which is defined in law or AS or SA.
it is general word
it simply means a letter which gives assurance that we will provide financial help to company, so such letter from parent to subsidiary will give assurance to auditor that financial problems will be resolved by parent if subsidiary is not able to manage it. there won’t be problem with  going concern
for GC auditor should collect evidence for 12 months from date of financial statements

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