IAS 24Chapter 8Lesson 1
Government-related entities: the partial exemption
Step 1 of 7Learning objectives
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An entity controlled or influenced by a government need not detail its transactions with that government and its related entities, but it discloses the government's name, the nature of the relationship and the extent of those transactions; the exemption does not extend to individuals.
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Learning objectives
- Determine whether a transaction falls within the government-related entities exemption.
- Prepare the disclosure to keep when the exemption is applied, including a quantified indication of extent.
- Assess the limits of the exemption and the extent of disclosure through judgement.