CERTYNEX IFRS ACADEMY

Alpha SA and Béta SA share joint control of the joint venture Gamma. Béta prepares financial statements. Is Alpha a related party of Béta merely because of this joint control of Gamma?

No: two venturers are not related simply because they share joint control of a joint venture.

Yes: joint control of the same entity links the venturers to each other, in both directions and with no other condition.

Yes: Alpha and Béta are each related to Gamma, so they are related to each other.

No: Gamma is not itself a related party of the two venturers.