Related parties

Mike Davies, Ron Paterson and Allister Wilson
Additional contact information
Mike Davies: Ernst & Young
Ron Paterson: Ernst & Young
Allister Wilson: Ernst & Young

Chapter Chapter 24 in UK Gaap, 1992, pp 1269-1302 from Palgrave Macmillan

Abstract: Abstract Related party relationships and transactions between related parties are a normal feature of business; many enterprises carry on their business activities through subsidiaries and associated companies and there will inevitably be transactions between the parties comprising the group. Nevertheless, whilst there is currently no UK accounting standard which requires the disclosure of related party transactions, a number of other countries (including the US, Canada, Australia and New Zealand) do have such a standard. In fact, the closest any UK standard setting body has come to issuing a standard on related parties was the ASC who in April 1989 issued ED 46 — Disclosure of related party transactions. Nothing ever came from ED 46, though, and it seemed that the ASB regarded the topic as a relatively low priority.

Keywords: Stock Exchange; Balance Sheet; Parent Company; Group Company; Relate Parti (search for similar items in EconPapers)
Date: 1992
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DOI: 10.1007/978-1-349-12998-0_24

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