Chartered Accountants Ireland has issued a reminder to members of the revisions to FRS 8 Related Party Disclosures which were issued by ASB in December 2008. The revisions were made to the exemptions available to certain companies within a group from disclosing related party transactions and are expected to give rise to more disclosure of transactions with subsidiaries that are not wholly owned and with associates and joint ventures. They are effective for financial periods commencing on or after 6 April 2008.
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