Under FRS8, there are various requirements for disclosure.
Do I have to disclose the name of the party the transaction is with?
related party discloures
I am finalising the accounts for a client and I am in mixed minds as to the correct disclosure for the control and related party notes, the situation is as follows:
Mr & Mrs A - 30%
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FRS8 requires that where the company is controlled by another party, the company should disclose the name and relationship of that party.
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Steve Collings offers a clarification of the financial reporting requirements governing related party disclosures.
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