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Related party transactions

  • 26-06-2012 4:20pm
    #1
    Kaskade
    Registered Users, Registered Users 2 Posts: 366 ✭✭


    I'm tying my self in knots over these. Simple example below.

    If the wife of a controlling director in a small company loans that company money this should be disclosed under IAS 24. Is this correct?

    Thanks


Comments

  • #2
    SBWife
    Registered Users, Registered Users 2 Posts: 1,287 ✭✭✭SBWife


    Yes, look at Deloitte's IAS plus site it lays things out pretty clearly.


  • #3
    ASJ Xavier Tobin
    Registered Users, Registered Users 2 Posts: 3 ✭ASJ Xavier Tobin


    Kaskade wrote: »
    I'm tying my self in knots over these. Simple example below.

    If the wife of a controlling director in a small company loans that company money this should be disclosed under IAS 24. Is this correct?

    Thanks

    Kaskade
    Your understanding is correct. This should be disclosed as related party transaction.


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