Related party disclosures require naming related parties and detailing transactions to reveal non-arm's-length impacts on financial statements. This Standard requires disclosure of related party relationships and transactions, defining related party, control and significant influence and prescribing that where control exists the name and nature of relationship must be disclosed. When transactions occur, enterprises must disclose the transacting related party, relationship, nature and volume of transactions, outstanding balances and provisions, and amounts written off or back; similar items may be aggregated by related party type unless separate disclosure is necessary for understanding the financial effects.