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Discuss rationale for disclosing related-party transactions

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Reference no: EM133171547

Question - Related Party Disclosures - 'Related party transactions are not assumed illegal, but it can pose risks in financial reporting'. As such, the IAS 24 requires an entity to make key disclosures regarding key management personnel's total remuneration and compensation.

Required -

(i) Discuss the rationale for disclosing related-party transactions with key management personnel regardless of its materiality?

(ii) Discuss the categories/key disclosures that are required in key management personnel's remuneration/compensation.

Reference no: EM133171547

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