INTRODUCTION
This publication relates to reporting requirements as at 30
September 2012. It highlights the topical issues to consider and
the new standards and interpretations that apply at this date.
TOPICAL ISSUES AT 30 SEPTEMBER 2012
This section summarises some accounting hot topics
that may impact September 2012 year ends.
'Commitments' to related parties – IAS 24
amendment
IAS 24 was amended in November 2009 and applies to financial
years ending on and after December 2011. One of the amendments was
the insertion of a requirement to disclose commitments with related
parties, including key management. 'Commitments' includes
commitments to do something if a particular event occurs or does
not occur in the future, including executory contracts (recognised
and unrecognised).
