• 2023 Issued Standard – IAS 24
  The 2023 Issued Standards include all amendments issued up to and including 1 January 2023.

Registration is required to access the free version of the Issued Standards, which do not include additional documents that accompany the full standard (such as illustrative examples, implementation guidance and basis for conclusions).

IAS 24 defines a related party to include an entity’s subsidiaries, associates, joint venture interests, key management and close family members of key management.

The standard requires an entity’s transactions with related parties, regardless of whether a price is charged, to be disclosed in that entity’s financial statements.

IFRIC 21 Levies
Provides guidance on when to recognise a liability for a levy imposed by a government.

UK qualifying parents and subsidiaries can take advantage of FRS 101 Reduced Disclosure Framework. Our FRS 101 page gives more information on which entities qualify and the criteria to be met.