# Commission Regulation (EU) No 632/2010 of 19 July 2010 amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Accounting Standard (IAS) 24 and International Financial Reporting Standard (IFRS) 8 (Text with EEA relevance) (revoked)

EU Regulation No 632/2010 · adopted 19 July 2010

Commission Regulation (EU) No 632/2010 of 19 July 2010 amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Accounting Standard (IAS) 24 and International Financial Reporting Standard (IFRS) 8 (Text with EEA relevance)

## Introductory text

Commission Regulation (EU) No 632/2010
of 19 July 2010
amending Regulation (EC) No 1126/2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council as regards International Accounting Standard (IAS) 24 and International Financial Reporting Standard (IFRS) 8
(Text with EEA relevance) (revoked)
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## 1 

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## 2 

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## 3 

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## Signature

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## Annex: INTERNATIONAL ACCOUNTING STANDARDS

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## International Accounting Standard 24 Related Party Disclosures

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## OBJECTIVE

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## 1 

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## SCOPE

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## 2 This Standard shall be applied in:

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## 3 

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## 4 

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## PURPOSE OF RELATED PARTY DISCLOSURES

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## 5 

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## 6 

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## 7 

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## 8 

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## DEFINITIONS

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## 9 The following terms are used in this Standard with the meanings specified:

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## 10 

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## 11 In the context of this Standard, the following are not related parties:

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## 12 

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## DISCLOSURES

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## All entities

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## 13 

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## 14 

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## 15 

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## 16 

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## 17 An entity shall disclose key management personnel compensation in total and for each of the following categories:

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## 18 If an entity has had related party transactions during the periods covered by the financial statements, it shall disclose the nature of the related party relationship as well as information about those transactions and outstanding balances, including commitments, necessary for users to understand the potential effect of the relationship on the financial statements. These disclosure requirements are in addition to those in paragraph 17. At a minimum, disclosures shall include:

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## 19 The disclosures required by paragraph 18 shall be made separately for each of the following categories:

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## 20 

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## 21 The following are examples of transactions that are disclosed if they are with a related party:

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## 22 

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## 23 

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## 24 

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## Government-related entities

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## 25 A reporting entity is exempt from the disclosure requirements of paragraph 18 in relation to related party transactions and outstanding balances, including commitments, with:

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## 26 If a reporting entity applies the exemption in paragraph 25, it shall disclose the following about the transactions and related outstanding balances referred to in paragraph 25:

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## 27 In using its judgement to determine the level of detail to be disclosed in accordance with the requirements in paragraph 26(b), the reporting entity shall consider the closeness of the related party relationship and other factors relevant in establishing the level of significance of the transaction such as whether it is:

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## EFFECTIVE DATE AND TRANSITION

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## 28 

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## WITHDRAWAL OF IAS 24 (2003)

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## 29 

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## Amendment to IFRS 8 Operating Segments

A1
Paragraph 34 is amended as follows (new text is underlined and deleted text is struck through) and paragraph 36B is added.
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34
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36B
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Source: https://www.legislation.gov.uk/eur/2010/632 (the official version)
Page: https://openlegislation.uk/eu-regulation-2010-632
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.