Related Party Disclosures

Date recorded:

(See also the Deloitte meeting notes from Wednesday 19 November 2008)

The Board agreed revised wording for the forthcoming ED of proposed changes to IAS 24. The ED will include the following paragraph:

17B However, a reporting entity shall disclose the following information about transactions with the state or other entities referred to in paragraph 17A:

(a) the name of the state and the nature of its relationship with the reporting entity (ie control, joint control or significant influence);

(b) the types of individually or collectively significant transactions with the state or such entities and a qualitative or quantitative indication of their extent. Types of transactions include those listed in paragraph 20; and

(c) the fact that the state or such entities are related parties as defined in IAS 24 but, as permitted by paragraph 17A, disclosures about related party transactions do not include transactions with that state or those entities.

There was no discussion.

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