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People or entities connected to a company through control, influence, management or other specified relationships.
Under IAS 24, an entity identifies qualifying relationships and discloses relevant transactions, balances and commitments. A transfer can be a related-party transaction even when no price is charged. Relationships may affect bargaining and decision-making, which is why normal-looking amounts still need disclosure. The definition is technical: dealing often with a company does not by itself make it a related party.
Suppose Company A is controlled by a holding company that also controls Company B. A lends J$5 million to B. That relationship and the loan's outstanding balance, terms and applicable disclosures matter even if the interest rate resembles a market rate. Readers can then consider whether the transaction supports A's interests. The example does not presume that the loan is unlawful.
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