Hi all Members
I hv doubt on Related party Transactions.
Is it necessary to desclose in audit report when a company pay remunaration and sitting fee to Directors ?
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Related party Transactions
Replies (4)
yes, u hv to as per 40A 2b..
yes
yes if the director is executive then it will included and in case of non-executive, u hav to checked that whther he has authority ot exercise control or authority to make decision. if yes then it will also to be disclosed.
related party transactions should be disclosed in notes to accounts of the balance sheet.........
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