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Related party

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Related party

  • This topic has 2 replies, 2 voices, and was last updated 7 years ago by P2-D2.
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    Posts
  • October 2, 2017 at 1:13 am #409198
    nari
    Member
    • Topics: 261
    • Replies: 176
    • ☆☆☆

    Hello

    If Mr. Chris owns a company and is the chairman, and his daughter works in the company as well (not at supervisory level or above) earning a normal compensation of $20,000, should that be disclosed?

    October 2, 2017 at 2:02 am #409199
    nari
    Member
    • Topics: 261
    • Replies: 176
    • ☆☆☆

    Also, does disclosure depend on if the amount is material?

    October 4, 2017 at 9:10 pm #409479
    P2-D2
    Keymaster
    • Topics: 4
    • Replies: 7163
    • ☆☆☆☆☆

    Disclosure is not dependent on the amount, it is dependent on whether the party is a close family member and the chairman’s daughter would qualify.

    Thanks

  • Author
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