CERTYNEX IFRS ACADEMY

Avenir SA holds an interest qualified as an associate under IAS 28 in Lumière SA and exercises, with a partner, joint control qualified as a joint venture under IFRS 11 over Prisme SARL. Avenir prepares financial statements. How are Lumière and Prisme treated under IAS 24?

Lumière, an associate, and Prisme, a joint venture, are both related parties of Avenir.

Prisme is a related party, but the associate is not.

Lumière is a related party, but the joint venture is not.

Neither of them, their qualification falling under standards other than IAS 24, so that they do not appear in Avenir's related party note.