Non-consolidation of significant subsidiary
- Thomas Tsang
- Aug 2, 2020
- 1 min read
For non-consolidation of significant subsidiary is a non-compliance of accounting standard SFRS110. Non-compliance of SFRS is an evident of material and pervasive impact, therefore, adverse audit opinion should be issued for audit report.
It also trigger the breach of directors duties to prepare accounts according to SFRS under Companies Act.
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