Forums
Back
Consolidated Financial Statement
Corporate & Other Laws
Whether FS of foreign subsidiary also to be included in Consolidated FS? If yes, how consolidated FS can be prepared if it follows different FY? and whether it is to be included even if it is not required to be audited under any law of that country?
Answers (4)
Sriram Somayajula Admin
Yes Foreign Subsidiaries also have to be consolidated - If foreign subsidiary financials are material, You will get their financials re-audited to match for financial year of Holding company - otherwise suitable disclosures are made
Sir, what should be done if it is not required to be audit under the law of that country?
Thread Starter
Nivedha BalajiSir, what should be done if it is not required to be audit under the law of that country?
Get accounts audited if they are material
Your Reply