Český finanční a účetní časopis 2015(1):85-99 | DOI: 10.18267/j.cfuc.438

Disclosures in Accordance with IAS 24 (Related Parties)

Lenka Nováková1, Martin Polák2
1 Ing. Lenka Nováková - doktorandka; Katedra finančního účetnictví a auditingu, Fakulta financí a účetnictví, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3; <xnovl42@vse.cz>.
2 Ing. Martin Polák - doktorand; Katedra finančního účetnictví a auditingu, Fakulta financí a účetnictví, Vysoká škola ekonomická v Praze, nám. W. Churchilla 4, 130 67 Praha 3; <xpolm56@vse.cz>.

The main reason for the existence of this standard is to ensure that an entity to disclose in its financial statements all relevant information about related parties. The reporting entity should point out "the possibility that its financial position and profit or loss is affected by the existence of related parties and transactions and outstanding balances, including commitments, with such parties." This article analyzes the published annual reports on the CNB website. The research is divided into banking and non-banking sector, where for each sector were three research questions. Finally, we can state that the requirement of IAS 24 disclosures under this standard was implemented fairly consistently for most of the companies reviewed over the period.

Keywords: IAS 24; Related Party; Reporting.
JEL classification: M41

Published: March 1, 2015  Show citation

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Nováková, L., & Polák, M. (2015). Disclosures in Accordance with IAS 24 (Related Parties). Czech Financial and Accounting Journal, 2015(1), 85-99. doi: 10.18267/j.cfuc.438
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