Key Management Personnel (KMP) transactions & disclosure requirements

Key Management Personnel (KMP) transactions and their disclosure in the financial statements or the remuneration report.

CaseWare: Originally published 26 September 2014 Industry News

Given the recent changes to AASB 124 Related Party Transactions and the Corporations Regulations, there has been some confusion over what disclosures are required to be included in the financial statements of listed entities and those which have been transferred to the remuneration report in relation to transactions with KMPs and their controlled entities.

Some of the changes are quite obvious (i.e. transfer of share and option holding movement schedules from the financial statements to the remuneration report) however transactions with KMPs and KMP controlled entities are less clear and there is some duplication in terms of disclosure requirements.

There has been no change to remuneration disclosures from prior year requirements, however the disclosures relating to KMP transactions and loans have been discussed in this article. The disclosure checklists in Caseware reflect the changes.

For further information, please contact Carmen Ridley –