TPG23-16 Related Party Disclosure
The objective of this TPG is to set requirements in order to achieve consistency in the application of AASB 124 Related Party Disclosures (AASB 124, the Standard) by agencies preparing general purpose financial statements.
Issued: 30 June 2023 by Treasury
Key information
- Status
- Active
- Type
- NSW Treasury Circular
- Identifier
- TPG23-16
- Compliance
- Mandatory
Who needs to know and/or comply with this?
- Executive agencies related to Departments
- State Owned Corporations
- Subsidiaries of the NSW Government established under the Corporations Act
About
The objective of this TPG is to set requirements in order to achieve consistency in the application of AASB 124 Related Party Disclosures (AASB 124, the Standard) by agencies preparing general purpose financial statements.
It also explains the related party concept, the application of the materiality principle and provides guidance on determining whether a related party transaction (including practical considerations) should be disclosed in the financial statements.
The objective of this TPG is to set requirements in order to achieve consistency in the application of AASB 124 Related Party Disclosures (AASB 124, the Standard) by agencies preparing general purpose financial statements.
It also explains the related party concept, the application of the materiality principle and provides guidance on determining whether a related party transaction (including practical considerations) should be disclosed in the financial statements.