Transcription of Related Party Disclosures
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AASB Standard AASB 124. July 2015. Related Party Disclosures Federal Register of Legislative Instruments F2015L01621. Obtaining a copy of this Accounting Standard This Standard is available on the AASB website: Australian Accounting Standards Board PO Box 204. Collins Street West Victoria 8007. AUSTRALIA. Phone: (03) 9617 7637. E-mail: Website: Other enquiries Phone: (03) 9617 7600. E-mail: COPYRIGHT. Commonwealth of Australia 2015. This AASB Standard contains IFRS Foundation copyright material. Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non-commercial use subject to the inclusion of an acknowledgment of the source.
A related party is a person or entity that is related to the entity that is preparing its financial statements (in this Standard referred to as the ‘reporting entity’). (a) A person or a close member of that person’s family is related to a reporting entity if that person: (i) has control or joint control of the reporting entity; ...
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