CONSILIDATION, PROPORTIONATE CONSOLIDATION AND EQUITY METHOD ISA 600, paragraph 10 states that the “consolidation process” includes presentation’ and disclosure of the financial information of the components in the group financial statements by way of: – consolidation, – proportionate consolidation, or – the equity methods of accounting. The above methods are explained as under: H Limited acquired 60% interest…

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Enumerate the responsibilities of group engagement partner and group engagement team. Responsibilities of group engagement partner and group engagement  team include: 1. CARRY OUT ACCEPTANCE AND CONTINUANCE PROCEDURES (a) . Perform acceptance and continuance procedures in order to ascertain whether the group engagement team will be able to carry out additional procedures on the financial  information the component.…

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