According to AASB 12 Disclosure of Interests in Other Parties,parent entities are required to disclose:
I Summarised financial information about each subsidiary
II A list of significant investments in subsidiaries.
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

AASB 12 requires the disclosure of summarised financial information about each subsidiary (I) and the list of significant investments in subsidiaries (II). It also requires disclosure of the country of incorporation of subsidiaries (IV). Disclosure of the names of all other members is not required unless the subsidiary is structured as a joint arrangement, in which case it would fall under the disclosure requirements for joint arrangements, not subsidiaries. Therefore, option (B) can be eliminated. Additionally, option (D) is incorrect as it includes the unnecessary and potentially misleading disclosure of the names of all other members. Therefore, option (A) is the best choice.