• Register
Search IFRS Questions / Answers




Welcome to IFRSanswer Forum, where you can ask questions and receive answers. Although you need not be a member to ask questions or provide answers, we invite you to register an account and be a member of our community for mutual help. You can register with your email or with facebook login few seconds

Get IFRSanswer App

Forensic Accounting

Parent uses IFRS subsidiary uses ASPE. Does subsidiary need to convert to IFRS in order to consolidate?


What happens on consolidation when a parent uses IFRS and subsidiary uses ASPE. Does the subsidiary need to convert to IFRS --- or can subsidiary still report under ASPE? If subsidiary is still able to report under ASPE does subsidiary prepare an additional set of financials for consolidation purposes where all accounting policies are consistent?

IFRS 10.19 - I am having trouble interpreting this.

asked Sep 24, 2015 in IFRS 10 - Consolidated Financial Statements by anonymous

1 Answer

0 votes
Did you refer to B87? - If a member of the group uses accounting policies other than those adopted in the consolidated financial statements for like transactions and events in similar circumstances, appropriate adjustments are made to that group member’s financial statements in preparing the consolidated financial statements to ensure conformity with the group’s accounting policies.
answered Oct 4, 2015 by Ema321 Level 2 Member (3,570 points)



...