Requirements regarding transparency about related parties’ transactions should (a) be consistent between publicly traded and non-publicly traded companies, rather than being more onerous on the latter; (b) extend to management members and their spouses only where such transactions are material and not carried out at arm’s length; (c) exclude intra-group transactions in the group consolidated accounts (this would relieve many subsidiary companies from voluminous disclosure that would be of little interest to users of the accounts).
Requirements regarding transparency about related parties’ transactions should (a) be consistent between publicly traded and non-publicly traded companies, rather than being more onerous on the latter; (b) extend to management members and their spouses only where such transactions are material and not carried out at arm’s length; (c) exclude intra-group transactions in the group consolidated accounts (this would relieve many subsidiary companies from voluminous disclosure that would be of little interest to users of the accounts).