Associated Companies
This query is : Resolved
15 June 2021
If two companies have same registered office and are engaged in business with each other, will they be considered as associate companies, by virtue of the management control.
If yes, are the associated companies required to prepare consolidated financials. How to report the financials, if the associate companies have different auditors.
What are other disclosures to be made, in this regard.
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Thanks and Regards
If yes, are the associated companies required to prepare consolidated financials. How to report the financials, if the associate companies have different auditors.
What are other disclosures to be made, in this regard.
--
Thanks and Regards
20 July 2021
1. same address and business with each other doesn't make companies as associates.
20 July 2021
They are not associates, therefore no need to prepare consolidated financial statements.
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