The minimum disclosures for related party transactions include the followings, except:
A) provision of doubtful debts related to outstanding balances;
B) the amount of transactions;
C) the amount of the outstanding balances and commitments;
D) the key management personnel of the related party.

Question

Quizplus · Accepted Answer

The key management personnel of the related party is not considered a minimum disclosure requirement for related party transactions under most accounting standards, such as IFRS or US GAAP. The focus is typically on the nature of the relationship, the amount of the transactions, outstanding balances, and any provisions for doubtful debts, rather than specific individuals involved.

The Minimum Disclosures for Related Party Transactions Include the Followings