Q. IND AS 24- Related Party Disclosures

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Question added May 12, 2022 Ind AS By Sameer Mathur, CA in Job, New Delhi
I have a doubt regarding IND AS24 - Related party disclosures.
In case two companies B Ltd & C Ltd are wholly owned subsidiaries of A Ltd and there are transactions between B Ltd & C Ltd, under which category do we need to disclose transactions between B & C if the reporting entity is B Ltd.

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answered Jun 7, 2022 By CA Nirmal Kumar Jain, CA, CS, Gurugram
B Ltd and C Ltd are the related party. They are fellow subsidiary. Ind AS 24 cover the fellow subsidiary as related party. They are required to disclose the transactions.

Concept by CA Pramod Jain

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