Skip to main content
IFRS Academy

CERTYNEX IFRS ACADEMY

My account — Professional

Search the Academy

Home
My learning path
Exercises & quizzes
Cases
Workpapers
Exams
My progress

IAS 24Workpapers (Step 4 of 5)

Workpaper assignment

Step 4 of 5
Mission · workpaperWorkpaper · IAS 24L3 · Advanced

Documents

List of managers

Minutes

List of managers

List approved by the board at 31 December 20X6: the chief executive, the chief financial officer and the chief operating officer are employees of the entity; they have the authority and responsibility for planning, directing and controlling its activities. The investment director has the same authority; he is an employee of Gestion Altimar SAS, which makes him available to the entity.

Key management personnel compensation note: total, categories, management entity and other balances

Key management personnel compensation by category, management entity services and a loan to a manager

5 documents9 sections to document
0 / 6 sections completed
Guided mode

Section 1 of 9

Objective

In progress
Section brief
What to document
The engagement, its scope and the working mode chosen.
Why
A workpaper answers one precise question: framing it avoids off-topic work.
How
Read the objective and the assignment, then choose the mode (guided, semi-guided, professional).
Expected result
You know which question the workpaper must settle, and for which reporting date.
Your role
Preparer of the IAS 24 workpaper
Level
Advanced
Estimated time
≈ 40 min
Progress
0 / 5 steps done (review excluded)

Context

Sorelvia Énergie SA (fictitious entity) closes its books on 31 December 20X6. Its key management personnel comprises three salaried managers (chief executive, chief financial officer, chief operating officer). The investment director is made available to it by Gestion Altimar SAS, a separate advisory company that invoices its services to the entity. A loan was granted to the chief financial officer. The accounting department prepares the note on key management compensation.

Assignment

Key management personnel compensation note

Purpose of the workpaper

List the key management personnel, enter the compensation of the period for each of the five categories, compute the total, examine whether services are obtained from a management entity (judgement, no threshold imposed) and then disclose the amounts incurred, then identify the other transactions and balances with key management. Amounts are case data.

Questions of the file covered by this workpaper

  • Who is a member of the key management personnel and what is the relationship with Gestion Altimar SAS?
  • Compute the total compensation of the three employed managers as the sum of the five categories.
  • How should the 150,000 EUR invoiced by the management entity be treated and what must be disclosed?
  • Record the short-term compensation expense payable.

Documents in the file

Open the documents to pick out the relevant information.

Choose how you want to work
View the workpaper template