A quasi-subsidiary is a company, trust, partnership, or other arrangement that does not fulfill the definition of a subsidiary undertaking but is directly or indirectly controlled by the reporting entity and provides similar benefits.
A subsidiary is an undertaking that is controlled by another undertaking, often referred to as the holding or parent company. The specific criteria for what constitutes control are defined by legislation, such as the Companies Act. Typically, a subsidiary's financial statements are consolidated into the financial statements of the parent company.
