Understanding IND AS 24: Related Party Disclosures

CA Sanat Pyne | Last updated: 14 April 2023

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IND AS 24 is an accounting standard from the Institute of Chartered Accountants of India (ICAI) that mandates the disclosure of transactions and relationships with related parties. This standard enhances transparency by requiring entities to report dealings with individuals or entities that can control or significantly influence them, such as directors, key management, and major shareholders. Compliance is crucial to avoid penalties and maintain a good reputation.

Overview of IND AS 24 IND AS 24 is a standard issued by the Institute of Chartered Accountants of India (ICAI) that outlines the disclosure requirements for related party transactions in financial reporting. The objective of this standard is to enhance transparency and accountability by ensuring

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About the Author

CA Sanat Pyne

F.C.A. & M.COM

I am Founder Partner of S PYNE ASSOCIATES (CA firm) and is one of the most esteemed members (Fellow) of the coveted Institute, The Institute of Chartered Accountants of India. I am B.Com (H) M.Com. from the Calcutta University. I am also a certificate holder of the following certificate Course . Concurrent Audit of B ... Read more

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