IAS 24 Flashcards
1
Q
What is IAS 24?
A
IAS 24 is related party disclosures
2
Q
What is the objective of IAS 24 RPD?
A
The objective of IAS 24 Related Party Disclosures is to ensure that an entity’s fs contain the disclosures necessary to draw attention to the possibility that its financial position and profit or loss may have been affected by the existence of related parties and by transactions and outstanding balances with such parties
3
Q
Who is a related party?
A
Directors, key management personnel and their immediate family
