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BALANCED SHIRE COUNCILPOLICY TITLE:RELATED PARTIES DISCLOSURE POLICYEXPIRY DATE:OngoingController: Disapproved By: Council 06.17Review Date February 2019BACKGROUND All councils in New South Wales

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How to fill out related parties disclosure policy

01

Identify all related parties involved in the business transactions.

02

Determine the nature of the relationship with each related party.

03

Gather all necessary information and documentation related to the transactions with related parties.

04

Provide a detailed disclosure of the related party transactions in the financial statements or other relevant reports.

Who needs related parties disclosure policy?

01

Companies or organizations that engage in transactions with related parties such as subsidiaries, parent companies, or other entities under common control.

02

Auditors and regulators who need to ensure transparency and compliance with accounting standards.

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What is related parties disclosure policy?

Related parties disclosure policy is a set of guidelines and procedures that organizations follow to disclose any relationships or transactions between the company and its related parties, such as key management personnel, directors, and other entities related to the organization.

Who is required to file related parties disclosure policy?

All companies, including publicly traded companies, are required to file related parties disclosure policy as part of their financial reporting obligations.

How to fill out related parties disclosure policy?

Related parties disclosure policy is typically filled out by identifying all related parties, disclosing any transactions or relationships with them, and providing additional information as required by accounting standards and regulations.

What is the purpose of related parties disclosure policy?

The purpose of related parties disclosure policy is to ensure transparency and accountability in financial reporting by disclosing any potential conflicts of interest or transactions that could affect the company's financial position or performance.

What information must be reported on related parties disclosure policy?

Information that must be reported on related parties disclosure policy includes details of relationships with related parties, any transactions between the company and related parties, and any potential risks or conflicts of interest that may arise.

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