Hello,
1) Are 2 private companies (one is a UK company conducting business in the UK and another is a USA company, conducting business in the USA) considered as related parties in the context of IAS 24 just because they have the same shareholder - an individual person?
2) To be more specific: the USA company sold an intangible property to the UK company. Directors of the companies are different persons - individuals. Is this transaction has to be disclosed in the financial statement of the UK company prepared in accordance with IAS / IFRS?
Thank you.
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