ob体育 notes the decisions by Mustera Property Group Limited (Mustera) to reflect the following changes through its financial report for the half-year ended 31 December 2018:
- reclassify its聽non-controlling interest in the Mustera Property Fund (the Fund)聽from equity to a liability, reducing reported net assets by $7.1 million聽as at 30 June 2018; and
- make additional disclosure聽on transactions with a related party during the year ended 30 June 2018.
ob体育 had raised concerns on the treatment of the non-controlling interest in the Fund as equity rather than a liability in Mustera鈥檚 financial report for the year ended 30 June 2018, as well as the relationship and transactions with a related party during the year.聽
As outlined in ob体育 media release 18-364MR Major financial reporting changes and other focuses, the non-consolidation of controlled entities remains a focus in ob体育鈥檚 surveillance of financial reports.