A Literature Review of Accounting and Auditing Related Parties Tranzactions

Iuliana Oana Mihai and Riana Iren Radu
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Iuliana Oana Mihai: Dunarea de Jos University of Galati, Romania

Risk in Contemporary Economy, 2016, 406-411

Abstract: The purpose of this paper is to investigate the scientific literature regarding the nature, extent and consequences of related-party transactions. According to IAS 24 related party transaction represent a a transfer of resources or obligations between related parties, regardless of whether or not a market price is charged. Two entities are considered to be related if one party has the ability to control the other party or exercise significant influence over the other party in making financial and operating decisions, for example a controlling shareholder, a director, key management personnel, or affiliated companies, controlled entities, and entities under common control.

Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:ddj:fserec:y:2016:p:406-411

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