CERTYNEX IFRS ACADEMY

Rivage SA and Delta SA share joint control of the joint venture Kappa. Rivage's accountant writes four findings for the related party note. Which one is wrong?

Kappa, a joint venture of Rivage, is a related party of Rivage.

Delta is not a related party of Rivage simply because they share joint control of Kappa.

In Kappa's financial statements, Rivage is also a related party.

Kappa is a mere commercial partnership of Rivage: it is therefore not a related party.