In the case where financial statements of parent entity or the ultimate controlling entity are not made publicly available, the reporting entity must disclose:
A) the name of the entity's largest shareholder.
B) the level of share ownership of the next most senior parent entity.
C) the name of the next most senior parent entity whose financial statements are publicly available.
D) the reason of why the parent entity does not make its financial statements publicly available.

Question

Quizplus · Accepted Answer

The reporting entity must disclose the name of the next most senior parent entity whose financial statements are publicly available in the case where financial statements of parent entity or the ultimate controlling entity are not made publicly available. This is because it provides transparency regarding the ownership structure of the reporting entity and allows users of financial statements to assess the financial health and performance of the entity. The other options (A, B and D) are not required to be disclosed according to accounting standards.

In the Case Where Financial Statements of Parent Entity or the Ultimate