We have concerns about related party proposals

  • Deloitte Comment Letter Image

12 Mar 2009

Deloitte has submitted a Letter of Comment on the IASB's exposure draft (ED) on 'Relationships with the State (Proposed amendments to IAS 24)'.

The ED proposes to simplify the disclosure requirements that apply to state-controlled entities under the existing IAS 24 Related Party Disclosures. An excerpt from our letter:

We agree that state-controlled entities may have difficulties in identifying all entities controlled, jointly controlled or significantly influenced by the same state. However, we are concerned that the proposed exemption as set out in the 2008 exposure draft is too broad. In addition, we have a number of concerns in relation to the revised definition of a related party.

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