IAS 24Chapter 1Lesson 1
IAS 24: purpose, scope and intragroup information
Step 1 of 6Learning objectives
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IAS 24 does not forbid any relationship with related parties: it requires disclosure that alerts the reader to their possible effect, in consolidated and separate financial statements alike.
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Learning objectives
- Explain why related party disclosure is required.
- Identify what the standard covers and in which financial statements it applies.
- Distinguish the treatment of intragroup items in consolidation from the investment entity exception.