Hi,
Please help me with related party discloure, where there is a significant influence.
Also request you to pls give reference to any notifications which i can refer.
TIA
2 Replies
CA Amrita Chattopadhyay
(Audit & Assurance)
(13459 Points)
Replied 10 August 2016
For the purpose of related party disclosure, we need to mention the following:
a. Related parties and the nature of relationship with the related party.
b. Transactions with the related party
c. Balance outstanding with the related party at the year end.
CA Saurabh Singh
(Practising Chartered )
(974 Points)
Replied 11 August 2016
Yes,
The same has to be made with proper disclosure in Auditors report and also disclosure in required to be made if you are filling AOC4
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