Related party disclosures require revealing relationships, transactions and outstanding balances that may affect an entity's financial statements. The Standard requires identification and disclosure of related party relationships, transactions and outstanding balances, including commitments, in consolidated and separate financial statements. It defines related parties to include persons or entities with control, joint control, significant influence, key management personnel and close family members, and mandates disclosures of parent subsidiary relationships, categories of related parties, amounts and terms of transactions, outstanding balances, guarantees, and key management compensation, subject to confidentiality and limited government related entity exemptions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Related party disclosures require revealing relationships, transactions and outstanding balances that may affect an entity's financial statements.
The Standard requires identification and disclosure of related party relationships, transactions and outstanding balances, including commitments, in consolidated and separate financial statements. It defines related parties to include persons or entities with control, joint control, significant influence, key management personnel and close family members, and mandates disclosures of parent subsidiary relationships, categories of related parties, amounts and terms of transactions, outstanding balances, guarantees, and key management compensation, subject to confidentiality and limited government related entity exemptions.
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