ASX rules apply to the reporting entity (Sunbridge). This...

ASX rules apply to the reporting entity (Sunbridge). This includes Australian accounting standards. A reporting entity has to report a consolidated position of itself and all of it's controlled entities, no matter how far down the ownership chain this goes.

Consolidation theory is quite simple (though in practice it can be quite tricky), and for cash balances all it requires is the adding together of all the bank balances of all the accounts controlled by all of the entities in the group.

Even if these entities were reporting to their domestic banks or internally by different sets of standards, the reporting entity listed on the ASX has to consolidate the performance of the group under AASB Standards. Any transactions accounted not in accordance with AASB standards would need to be adjusted for. Revenues and expenses are added together across the group, intercompany transactions, assets and liabilities are eliminated to avoid double counting.

Cash being controlled by a sub is still deemed to be controlled by the parent if the parent is a controlling entity (which is certain if the ownership is greater than 50%, sometimes even lower), and is required to be reported as a single consolidated group.