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Related Party IAS-24

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA SBR Exams › Related Party IAS-24

  • This topic has 1 reply, 2 voices, and was last updated 1 year ago by Stephen Widberg.
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  • Author
    Posts
  • March 24, 2021 at 8:23 pm #615147
    faisal
    • Topics: 2
    • Replies: 0
    • ☆

    Mr P has a 70% shareholding in Entity A.
    Mr P has a 30% shareholding in Entity B.

    Mr P controls Entity A and is able to exert significant influence over Entity B.

    Mr P has a 25% shareholding in Entity A.
    Mr P has a 30% shareholding in Entity B.

    Mr P is able to exert significant influence over Entity A and Entity B.

    Required:
    For each situation above explain whether or not Entity A and Entity B are related parties.

    Kindly provide the answer of above query

    March 25, 2021 at 3:21 pm #615191
    Stephen Widberg
    Moderator
    • Topics: 10
    • Replies: 2528
    • ☆☆☆☆☆

    As always at this level, there may be no right and wrong and it’s fine to say that he may be a RP.

    First scenario – Mr P is RP of A and of B, AND A may be RP of B

    Second scenario – Mr P is RP of A and of B. I am not convinced that A is a RP of B

    Fortunately exam questions focus on the ethics of non-disclosure rather than the minutiae of disclosure!

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