The information in the link is correct and I don't contradict it. It appears you may be misinterpreting what it says:
"A subsidiary is wholly or majority owned by the company claiming it as a subsidiary. Subsidiaries are separate companies and, therefore, the accounting rules that govern them treat them as separate but also as part of an aggregate whole."
As I said the subsidiary can have it own financials but for the purposes of a public company the subsidiary's financials are consolidate into the "aggregate whole" for reporting purposes.
That link is not addressing the requirements of publicly traded companies.
Look at the title ANDI uses for the financial statements themselves
"Compiled Consolidated Financial Statements"
Bottom line, for the purposes of financial reporting of publicly traded companies ANY wholly owned subsidiary's financials have to be consolidated into the financials reported for the publicly traded parent entity.
ANDI has no financial information included for Utopya Innovations which was represented as a "wholly owned subsidiary" of ANDI.
There are only there possibilities
1) the Financials ANDI disclosed are blatantly wrong
2) Utopya has absolutely no business whatsoever
3) Utopya is not actually a wholly owned sub of ANDI.
Take your pick.
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