Related party

[Little_Girl]

a person or company, for example a shareholder or a company in the same business group, that is connected to the person or company previously mentioned and that often has some control or influence over that person or company:

[Becky]

A related party is a person or entity that is related to the entity that is preparing its financial statements (referred to as the reporting entity) [IAS 24.9]. (i) has control or joint control over the reporting entity; (ii) has significant influence over the reporting entity; or.