cOMPARISON WITH IAS 24

AASB 124 Related Party Disclosures as amended incorporates IAS 24 Related Party Disclosures as issued and amended by the International Accounting Standards Board (IASB). Paragraphs that have been added to this Standard (and do not appear in the text of IAS 24) are identified with the prefix “Aus”, followed by the number of the preceding IASB paragraph and decimal numbering.

Entities that comply with AASB 124 as amended will simultaneously be in compliance with IAS 24 as amended, with the exception of entities preparing general purpose financial statements under Australian Accounting Standards – Reduced Disclosure Requirements.