The complexity and risks associated with recognition and disclosure of related-party transactions
Affiliates of the Evangelical Council for Financial Accountability (ECFA) have one year to comply with a new standard for setting compensation and addressing related-party transactions
The arm's-length standard is employed to ensure that related-party transactions
dearly reflect the income of each party and to prevent tax evasion.
htm, provides auditors and accountants with guidance on the timely subject of related parties and related-party transactions
A transaction is considered to be compliant with the arm's length principle when conditions imposed and prices paid in related-party transactions
are comparable to those imposed and paid by independent enterprises in comparable circumstances.
Media coverage of the allegations notwithstanding, William Aramony's offense was not an expensive lifestyle but the creation and maintenance of an intricate network of related-party transactions
which had the not coincidental side effect of making him a bit richer.
Most of the exports have been related-party transactions
by multinational corporations, like Goodyear and Michelin.
To allay taxpayer concerns relating to the treatment of related-party transactions
in prior open taxation years, we recommend that Revenue Canada's policy on the retroactive application of the APA methodology be set forth as part of the Introduction, as well as in several of the detailed provisions (discussed below).
Ryu and Baik, ISS noted: "[B]ased on the recent developments and consistent 'detrimental' actions against shareholders by the executives and the board through various related-party transactions
with companies that clearly have conflicts of interest with the Company and by inadequate responses to shareholders' requests, it is hard to justify a recommendation in line with management's recommendation at this time.
The German legislation on transfer pricing (TP) establishes the principle of arm's-length pricing for related-party transactions
Due to the special scrutiny the court gave to related-party transactions
, it found this to be the case.
Part III, Item 15, Audited Financial Statements, Note 11 - Related-Party Transactions
, relating to disclosure of Shared Services, Cost Allocation and Employee Benefits Cost Allocations disclosures.