Exercise 1 (2 points) French company F is the holding company of a multinational group that files consolidated financial statements in France in accordance with IFRS-EU regulation. Fowns 70% of Spanish company E and 80% of Danish company D. E is the Spanish is the head of the Spanish subgroup that include companies V, W, X, Y and Z. E is traded in the Spanish stock market Y is a company where E coordinates the management in similar conditions together with another 2 other companies external to the group. E has the right to name more than half of the members of the board of W. Participation %'s are shown in the chart below: 70% 80% E 90% 47% V W 25% 70% V1 V2 1% V11 X 2% Z 33% 30% a) Determine the Spanish companies under the group, joint control and associated for consolidation method considerations. Explain b) What are the companies that need to file for consolidated financial statements in Spain and is there any possibility to be exempt under consolidation rules? Explain.