From Sk

This is in continuation of IAS 24:

A party is related to an entity if
(a) Directly or indirectly, through one or more intermediaries, that party controls, is controlled
by, or is under common control with the entity; has an interest in the entity
that gives it significant influence; or has joint control over the entity.
(b) The party is an associate (see IAS 28, Investments in Associates).
(c) The party is a joint venture in which the entity is a venturer (see IAS 31, Interests in
Joint Ventures).
(d) The party is a member of the key management personnel of the entity or of its parent.
(e) The party is a close family member of any individual referred to in (a) or (d).
(f) The party is an entity that is controlled, jointly controlled, or significantly influenced
by, or for which significant voting power in such entity resides with, directly or indirectly,
any individual referred to in (d) or (e).
(g) The party is a postemployment benefit plan for the benefit of employees of the entity
or of any entity that is a related party of the entity.

This is the definition given in one of the books. Im a little confused on this…isnt point (b) and (c) an elaboration of point (a)? I mean, it does mention significant influence in (a)….wouldnt that be the same as associate, mentioned in (b)

---

Another thing….isnt part (c) and (f) talking about the same thing? Jointly controlled…joint venture…. whats the difference?

---

Third, the standard says the following is NOT an example of related parties:

“Two venturers are not related parties simply because they share joint control over a joint venture.”

Isnt this contradictory to ALL the joint control/venture points made above??? I cant tell them apart!