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Editorial Board on Accounts and Audit
  • Ind AS Applicability

    by mohan verma on Tuesday, December 20, 2016 at 03:30 PM

    Thanks,If Company A and Company C are subsidiaries of Company B then it shall be applicable on both A & C because if Ind as applicable on holding co then it shall be applicable on all subsidiary co. But we want to clarify that Company C is subsidiaries of Company B but Company A is not the Subsidiary of Company B. Company-A is the associate Company of Company B because more than 20% but less than 50% shares of A is hold by company B. Pls clarify accordingly.

    Replied byEditorial Board Thursday, February 16, 2017 at 04:33 PM

    Dear Sir,

    Our response shall remain the same.

    Please note that the definition of associate should be in accordance with definition as provided in Ind AS 28 Investments in Associates and Joint Ventures.

 
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