Related party disclosure

Dear Rahul,

I would like to give you INDAS refernece in regard to Related Party disclosures so that you can yourself read and interpret the text.

As per INDAS -24, “Related party Disclosures”, paragraph 17

An entity shall disclose key management personnel compensation in total and for each of the following categories:

(a) Short-Term Employee Benefits;

(b) Post-Employment Benefits;

(c) Other Long-Term Benefits;

(d) Termination Benefits; and

(e) Share-Based Payment.

However para 17A says

If an entity obtains key management personnel services from another entity (the ‘management entity’), the entity is not required to apply the requirements in paragraph 17 to the compensation paid or payable by the management entity to the management entity’s employees or directors.

Thanks and Regards

Shreesh Kumar