ASC 850 (US GAAP) and IAS 24 (IFRS) both require disclosure of related-party relationships and transactions. IFRS is broader in two respects.
| Area | US GAAP (ASC 850) | IFRS (IAS 24) |
|---|---|---|
| Key management personnel (KMP) compensation | Not specifically required | Required, by category |
| Government-related entities | — | Partial exemption |
| Definition of related party | — | Slightly broader |
An educational reference and original synthesis — not investment advice, and not a substitute for the standard. Consult ASC 850 / IAS 24 directly.