related party

Two individuals or organizations whose relationships involve the exercise of *control, dominance, or influence. It is assumed that transactions between related parties may not be made at *arm’s length, and the *disclosure of transactions of this nature in *financial statements is required under most systems of *Generally Accepted Accounting Principles.

Auditor's dictionary. 2014.

Look at other dictionaries:

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  • related-party transaction — A transfer of resources or obligations between related party, regardless of whether a price is charged …   Big dictionary of business and management

  • transaction with a related party — See related party transaction. Related links Listing Rules related party Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.c …   Law dictionary

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