A sale to a sister company in the same group — does it need disclosure in the financials?

IAS 24 requires disclosure of any transaction with a related party — a sister company, an owner, key management, or their immediate relatives — even when priced at fair market value. The disclosure covers the nature of the relationship, the type of transaction, and its value, so whoever reads the statements can judge for themselves.

This connects directly to Corporate Tax too: related-party transactions must be priced at arm's length, or the authority can adjust the taxable base. RASEEKH documents group transactions from the start in a way that protects the financial statements and the tax file together, not one at the other's expense.