Related party disclosure
rahul (student) (41 Points)
01 July 2016
Hi,
Should bonus payable to KMP be disclosed in the RPT disclosure.
CA Harshal Totla
(Chartered Accountant)
(2229 Points)
Replied 01 July 2016
Shreesh Kumar
(CA Final)
(122 Points)
Replied 02 July 2016
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
CAclubindia
