ONGC had applied for a similar exemption from the Ministry of Corporate Affairs, to extend the exemption granted to related party transactions
between two government companies, to agreements between a government company and the government.
The central bank has added another layer of regulation on the Philippine banking industry following the approval of stricter disclosure rules covering so-called related party transactions
THE government has clarified that related party transactions
valued in excess of ` 100 crore would require prior approval of shareholders by way of a special resolution under the new Companies Act.
Agenda6: Approve the related party transactions
between the company and affiliated companies of Zamil Group Holding Company that took place during 2013 and approve them for an additional year.
Runyan indicates that the IRS has recognized that using an irrevocable trust may have provided a way around the rule against related party transactions
when claiming the first-time homebuyer credit, and makes clear that the practice also constitutes a related party transaction
The proposed SAS Special Considerations--Audits of Financial Statements Prepared in Accordance With Special Purpose Frameworks requires that in audits of special purpose financial statements that contain related party transactions
, the auditor should evaluate whether the financial statements include informative disclosures similar to those required by generally accepted accounting principles (GAAP).
Specifics of regulation of related party transactions
Along the way it ascribes some very Enron-like machinations to nursing home ownership, such as self-dealing and related party transactions
, that the magazine implies are boosting profits to healthy, even obscene, levels.
The AICPA has issued Accounting and Auditing for Related Parties and Related Party Transactions
, which provides guidance on related parties and related party transactions
government was the first to enforce the arm's length standard as the overarching principle in setting transfer prices when, in 1994, the IRS issued final regulations accompanying section 482 of the Internal Revenue Code requiring that related party transactions
meet the standard.
Beginning with the Continental Vending case in the 1960s, related party transactions
have been a way in which perpetrators of financial statement fraud have crafted their work at the expense of unsuspecting auditors and the public.
6038A-5 require a foreign related party to name a reporting corporation as an agent with respect to an IRS request to examine records or produce testimony on related party transactions