Quote:
Originally Posted by TripletDaddy
Also, in your hypo, the parent is shielding the losses of the subs so that the subs can pad their reports. That makes no sense. Do many subs file independent docs with the SEC? They are almost always part of a consolidated group.
I agree with your general sentiment.......the point you make is the reason we have Sarbox now. I am just pointing out semantics.
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I just found out that as long as no one subsidiary holds controlling interest, you don't have to report consolidated.