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Chapter 2 — Form and Content of Financial Information

2.2 Separate Financial Statements

2.2 Separate Financial Statements

Rule 3-09 requires a registrant to provide separate financial statements of equity method investees in its annual report, registration statement, or proxy statement if the investee is greater than 20 percent significant to the registrant (see Section 3.1 for further discussion of the significance tests and thresholds applied).

Footnotes

1
See SEC Staff Announcement, Transition Related to Accounting Standards Updates No. 2014-09 and 2016-02, which is codified in ASC 842-10-S65-1 and ASC 606-10-S65-1.
2
See AICPA AU-C 700.47.
3
See AICPA AU-C 700.49 and 700.60.
4
Under Section 3 of the Securities Exchange Act of 1934, “the term ‘issuer’ means an issuer (as defined in section 3), the securities of which are registered under section 12, or that is required to file reports pursuant to section 15(d), or that files or has filed a registration statement that has not yet become effective under the Securities Act of 1933 . . . , and that it has not withdrawn.”
5
For more information, see Question 3 in Section O, “Other Independence,“ in the SEC’s Office of the Chief Accountant: Application of the Commission’s Rules on Auditor Independence — Frequently Asked Questions (updated as of June 27, 2019).