The liquidators of an entity are considered to be directors for the purposes of defining related parties:

Question

Quizplus · Accepted Answer

According to the International Financial Reporting Standards (IFRS), liquidators are considered to be acting as representatives of the entity and are therefore classified as its directors. This means that they would fall under the definition of related parties and their transactions with the entity would need to be disclosed in the financial statements.

The Liquidators of an Entity Are Considered to Be Directors