Description
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.
Attachments
Detailed Outline
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.
Overview
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
Compliance
- Mandatory
AR Details
- Date Issued
- Jun 30, 2023
- Review Date
- Jun 30, 2028
- Replaces
- Replaced By
-
Contacts
- Contact
- Phone
- Publishing Entity
- The Treasury
- Issuing Entity
- The Treasury