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IAS 24- Related Party Disclosures

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Before starting this self study program, please go through the instructional document.


  • IFRS 101 Qualitative characteristics
    3 mins
  • Assets 101
    15 mins
  • Who does IAS 2 not apply to?
    30 mins
  • IAS 24: Who are not related parties?
    40 mins
  • Disclosures
    48 mins

Course Description

Related party relationships are a normal feature of commerce and business. For example, entities frequently perform part of their activities through subsidiaries, joint ventures, and associates. In those circumstances, the entity has the ability to affect the financial and operating policies of the investee through the presence of control, joint control, or significant influence.

For these reasons, knowledge of an entity’s transactions, outstanding balances, including commitments, and relationships with related parties may affect assessments of its operations by users of financial statements, including assessments of the risks and opportunities facing the entity.

Under U.S. GAAP, related party transactions need to be disclosed in the financial statements. If there are no transactions, nothing else is required to be included.

However, under International Financial Reporting Standards (IFRS), the requirement is that a related party relationship needs to be disclosed even if there is no transaction between the reporting entity and the related party. 

The purpose of the IFRS requirement is to ensure that an entity’s financial statements contain the disclosures necessary to draw attention to the possibility that its financial position and profit or loss may have been affected by the existence of related parties and by transactions and outstanding balance including commitments, with such parties.

This online CPE webinar for CPAs will help you understand when a relationship exists between a party and the entity, whether it should be reported, and how to report it.

This online Accounting CPE webinar covered the following major topics:

  • Review the objective and scope of IAS 24.
  • Examine definitions and concepts of related parties.
  • Discern between who is a related party and who is not.
  • Learn disclosure requirements for related party transactions.
  • Know disclosure requirements for related party relationships.
  • Understand key management disclosure rules.
  • Be familiar with government relationship disclosure requirements.
  • Learn what judgment can be applied in deciding how much detail to disclose.

Learning Objectives

  • To apply IAS 24 requirements for disclosures of related party transactions, balances, commitments, and relationships that can possibly influence financial statements.
  • To explain disclosure requirements for groups of companies.
  • To be able to decide what and when to disclose, and when not to.
  • To provide useful information about related parties to users of the financial statements.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Certified Public Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial Accountant
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA