If an entity chooses to apply the disclosure exemption in paragraph 25 of IAS 24, it is still required to do the followings, except:
A) disclose the nature of the relationship with the government-related entities;
B) identify the government to which it is related;
C) the nature and amount of every transaction with government-related entities;
D) a qualitative or a quantitative indication of the extent of other transactions that are collectively significant.

Question

Quizplus · Accepted Answer

Even if an entity chooses to apply the disclosure exemption in paragraph 25 of IAS 24, it is still required to disclose the nature of the relationship with the government-related entities, identify the government to which it is related, and provide a qualitative or a quantitative indication of the extent of other transactions that are collectively significant. However, it is not required to disclose the nature and amount of every transaction with government-related entities.

If an Entity Chooses to Apply the Disclosure Exemption in Paragraph