The forthcoming exposure draft of proposed amendments to IAS 24 Related Party Disclosures will propose a revised exemption for entities controlled, jointly controlled or significantly influenced by the state (�state-controlled entities�). At this meeting, the Board decided tentatively that when the exemption applies, an entity should disclose the extent of its transactions with the state or other state-controlled entities. To comply with this, the entity should disclose (a) the types of individually or collectively significant transactions with the state or other state-controlled entities and (b) a qualitative or quantitative indication of their extent. Types of transactions include those listed in paragraph 20 of IAS 24.
The Board also decided that the comment period would be 90 days. The Board expects to publish the exposure draft in December.