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Understand the concept of control without a majority of the voting rights as it relates to acquisitions and reverse acquisitions.
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An investor might have control over an investee even when it has less than a majority of the voting rights of that investee (commonly referred to as "de factor control" by industry participants). International Financial Reporting Standards (IFRS) discusses the concept of having control without a majority of the voting rights; however, the application of this concept remains a highly judgmental area of accounting.
To better understand this concept, read Viewpoints: Applying IFRSs in the Oil and Gas Industry — Business Combinations: Acquisition of Control Without a Majority of the Voting Right.
Developed jointly by Chartered Professional Accountants of Canada (CPA Canada), the Canadian Association of Petroleum Producers and the Explorers and Producers Association of Canada, this paper addresses topics such as:
September 23, 2019
Canada’s dynamic, must-attend CPA event of the year is heading to Montréal with the theme of innovation for sustainability.
October 28, 2019
If you’re a senior financial professional in the public sector or work for a not-for-profit that follows PSAB standards, this annual event in the nation’s capital is the place to be.
November 7, 2019
Join CPA Canada’s Financial Literacy Program in Ottawa, our nation’s capital, as we look at the trends changing the economic landscape and how they will affect how Canadians manage their money.