CERTYNEX IFRS ACADEMY

An intern summarises why the disclosure about parent-subsidiary relationships is given. Which sentence of the summary is wrong?

The control relationship is disclosed as soon as control exists, even without transactions.

The control relationship is disclosed only when transactions have taken place between the parent and the subsidiary.

This disclosure enables users to assess the effect of related party relationships.

It is in addition to the requirements of IAS 27 and IFRS 12 on the same relationships.