This course introduces IAS 24 and explains how related party relationships and transactions should be identified, assessed, and reported in financial statements. Related party issues often involve judgment, overlap with management decisions, and carry a high risk of omission or error. Because of this, IAS 24 plays a key role in helping users understand whether financial results may have been influenced by relationships outside normal market conditions.

The course begins by explaining the purpose and scope of IAS 24 and why clear disclosure is required. It then moves into practical guidance on identifying related parties, including management personnel, group structures, and indirect relationships. Learners will also explore which transactions and balances must be disclosed, how disclosures should be presented, and where relief applies. By the end of the course, learners will be able to apply IAS 24 with confidence and avoid common disclosure mistakes in real reporting situations.

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Upon completion of this course, learners will be able to:

• Explain the purpose and scope of IAS 24.
• Identify related party relationships within different entity structures.
• Recognize why related party disclosures are required.
• Assess the risks arising from missing or incorrect disclosures.
• Understand how IAS 24 fits within the IFRS framework.
• Interpret related party information from the perspective of financial statement users.