Where a non-controlling interest exists in a subsidiary, AASB 12 /IFRS 12 Disclosure of Interests in Other Parties requires parent entities to disclose which of the following for each such subsidiary? I Summarised financial information about each subsidiary.
II The proportion of ownership interests held by non-controlling interests.
III If the subsidiary is not wholly owned, the names of all other members.
IV The country of incorporation of subsidiaries.
A) I, II and IV only
B) II, III and IV only
C) I and IV only
D) I, II, III and IV

Question

Quizplus · Accepted Answer

The standard requires the disclosure of the proportion of ownership interests held by non-controlling interests as well as the country of incorporation of subsidiaries. Summarised financial information is also required to be disclosed. The names of all other members are not required to be disclosed. Therefore, the correct options are I, II and IV only.

Where a Non-Controlling Interest Exists in a Subsidiary, AASB 12