CERTYNEX IFRS ACADEMY

Marmara SA is controlled by the government. It paid 700,000 to its chief executive, a member of key management personnel, for consulting services separate from his compensation. Which reasoning of the accountant is wrong?

Transactions with the government that controls Marmara may remain outside the IAS 24 paragraph 18 disclosures.

Another state-owned company controlled by the same government is also within the exemption.

The payment of 700,000 to the chief executive is covered by the exemption, since Marmara is controlled by the government.

The exemption does not extend to transactions with individuals, such as key management personnel.