Show Summary Details

Quick Reference

A company, trust, partnership, or other arrangement that does not fulfil the definition of a subsidiary undertaking but is directly or indirectly controlled by the reporting entity and gives rise to benefits for that entity that are in substance no different from those that would arise if it was a subsidiary. This definition is based on that given in Financial Reporting Standard 5, Reporting on the Substance of Transactions. If a reporting entity has a quasi-subsidiary, the substance of the transactions entered into by the quasi-subsidiary should be reported in consolidated financial statements.

Subjects: Financial Institutions and Services — Accounting.

Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.