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The composition of the group; namely the subsidiaries, associates, any joint ventures and any
other significant investments. The group’s main business operations
2. Why did the parent entity have to prepare consolidated financial statements when the subsidiary
company is a separate legal entity in its own right?
3. How is the group of companies funded? Share capital, debentures? Any options, bonus issues
etc. Who owns the group?
4. Does the published set of group financial statements reveal the company’s policy on corporate
governance? Audit committees? Sustainability? Solvency? Should it? If so, where and why?
5. The non controlling interest – where would you find it in the financial statements and what does it
represent? Details of any direct and indirect non controlling interest?
6. Has there been any goodwill on acquisition? Or any gain on bargain purchase? Where would you
find it in the financial statements and what does it mean? Any impairment?
7. Does the group have any foreign currency transactions? Any foreign subsidiary companies? How
have they been accounted for in the financial statements?
8. Any other relevant matter that you may wish the board of directors to make note of in respect of
some transaction or event, balance of account or disclosure that will assist them in understanding the
financial statements of the group.
