• local-news

ISCA Issues Audit Bulletin 4 Non-Consolidation of Subsidiaries - Considerations for the Auditor's Report (AB 4)

In ACRA’s Audit Regulatory Report 2023 one area of concern highlighted is where an audited parent entity does not present consolidated financial statements as required by FRS 110 Consolidated Financial Statements. In such situations, the auditor needs to assess if this calls for a modification to the audit opinion.

This audit bulletin highlights key considerations for the auditor when assessing the effects of non-consolidation of subsidiaries on the auditor’s report, including illustrative examples on the types of audit opinions that may be issued.

Read more