AASB 124 reflects the view that transactions carried out by related parties cannot be presumed to be at arm's length.

Name: AASB 124 reflects the view that transactions carried out by related parties cannot be presumed to be at arm's length.
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AASB 124 requires entities to disclose information about transactions with related parties and presumes that such transactions are not at arm's length. This presumption can only be rebutted by sufficient and appropriate evidence.

AASB 124 Reflects the View That Transactions Carried Out by Related