Under IFRS 10, a controlling entity need not consolidate its consolidated financial statements if it meets all the following conditions:
The controlling (parent) entity that meets all the IFRS requirements and consolidates its financial statements with one or more entities maintaining the control and the power over these, will also inform owners and other users in a single set of financial statements, the Group’s economic situation and performance.
Likewise, having consolidated financial statements will enable the Group to participate in bidding processes with private and state entities. It will also help the Group to obtain new financing from bank entities.
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