Unpacking IAS 24: The Essentials of Related Party Transactions

Join us in this episode as we explore IAS 24: Related Party Transactions, a crucial standard for achieving transparency in financial reporting. Discover what defines a related party, the intricacies of related party transactions, and the mandatory disclosures that ensure stakeholders can make informed decisions. Using real-world examples, including the story of Measure Twice Company, we illustrate why these disclosures matter for accountability and trust. Tune in to understand how IAS 24 safeguards the integrity of financial statements!