UK GAAP 2019

Chapter 30Related party disclosures

• 1 INTRODUCTION
  • 1.1 Scope of Section 33
    • 1.1.1 Transactions eliminated on consolidation
    • 1.1.2 Transactions between wholly-owned subsidiaries
• 2 COMPARISON BETWEEN SECTION 33 AND IFRS
  • 2.1 Scope exemption for wholly-owned subsidiaries
  • 2.2 State-related exemption
  • 2.3 Disclosure of key management compensation
  • 2.4 Aggregation of disclosures
  • 2.5 Disclosure of commitments
• 3 REQUIREMENTS OF SECTION 33 FOR RELATED PARTY DISCLOSURES
  • 3.1 Definition of a related party
    • 3.1.1 Persons or close members of a person's family that are related parties
    • 3.1.1.A Close members of a family
    • 3.1.1.B Key management personnel
    • 3.1.2 Entities that are members of the same group
    • 3.1.3 Entities that are associates or joint ventures
    • 3.1.4 Entities that are joint ventures of the same third party
    • 3.1.5 Entities that are joint ventures and associates of the same third entity
    • 3.1.6 Post-employment benefit plans
    • 3.1.7 Entities under control or joint control of certain persons or close members of their family
    • 3.1.8 Entities under significant influence of certain persons or close members of their family
    • 3.1.9 Entities, or any member of the group of which they are a part, that provide key management personnel services
    • 3.1.10 Parties that are not related parties
    • 3.1.11 Illustrative examples of related party relationships
  • 3.2 Disclosures of related party transactions, balances and relationships
    • 3.2.1 Disclosure of parent-subsidiary relationships
    • 3.2.2 Disclosure of key management ...