CERTYNEX IFRS ACADEMY

Pin SA, a subsidiary of Orme SA, measures certain assets under an accounting policy different from Orme's for similar assets (case data). Pin must keep its policy in its individual accounts, which its auditor has approved. Where is the restatement to harmonise policies made?

In Pin's own financial statements, which must be changed before being passed on for the consolidation.

Within the consolidation, Pin's own financial statements remaining unchanged.

In Orme's individual financial statements, which take over Pin's policy for the assets of its subsidiary.

Nowhere, since Pin's policy, having been approved by its auditor, is binding on the group.