related party

This query is : Resolved

ROSHNI (Querist)
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14 July 2011 Are the private companies also covered under AS18 related party disclosures issued by ICAI?. Are the private companies bound to disclose details under AS18 by virtue of Companies Accounting Standard Rules 2006?

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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14 July 2011 yes. private companies also covered disclosure under Accounting standard -18

CA Amit Joshi

CA Amit Joshi (Expert)
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14 July 2011 Agree with Ramesh Ji

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CS SIDDHARTHA BANIK

CS SIDDHARTHA BANIK (Expert)
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15 July 2011 Hi,
I think AS 18 has disclosed the types of enterprises where this standard will be applicable. Hence, pl. check the standard and find out if your co. falls under any of them.

Thanks,
CS Siddhartha Banik