CAF-8 · Chapter 11 · Question 3 of 10
Which of the following is an example of a Related Party for a corporate audit client?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) A company controlled by the spouse of the client's Managing Director.
Explanation
Related parties include entities that can exercise significant influence or control. Close family members of key management personnel are considered related parties under IAS 24.
More Related Party Transactions MCQs
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