The Institute has now lodged its submission with the IASB on “Proposed amendments to IAS 24 Related Party Disclosures State-Controlled Entities and the Definition of a Related Party”. 
 
The submission was broadly supportive of the proposed amendments and particularly agreed that excluding certain relationships between state controlled entities from the standard is appropriate. It also welcomed the amendments clarifying the definition of a ‘related party’, although it expressed concern about the wording of amendments designed to correct anomalies in realtion to the application of the standard to key management personnel. 
 
The final submission is now available for download.