Disclosure of principal-agent arrangements depends on the nature of transactions with third parties

A previous article on Identifying principal-agent arrangements – the nature of transactions with third parties explained the nature of transactions with third parties that are principal-agent arrangements in GRAP 109. These “transactions” could be specific financial transactions between a principal and a third party, or interactions with third parties where the agent represents the interest of the principal. The article on Reporting on principal-agent arrangements in the financial statements  provided information on the disclosures required for principal-agent arrangements.

Where transactions with third parties are interactions (rather than financial transactions), not all disclosures required by GRAP 109 may be relevant:

Comment to the Board on ED 200

The ASB is conducting its post-implementation review of GRAP 109 Accounting by Principals and Agents. ED 200 is available on the ASB website with a comment deadline of 15 September 2023.

The Board welcomes comment from all stakeholders on any aspect of GRAP 109.

Comment may be provided in writing through questionnaires (available on the ED 200 webpage on the ASB website) or in any other written format to info@asb.co.za. Comment may also be provided through roundtable discussions. Contact elizna@asb.co.za to be invited to a roundtable discussion.

Disclaimer

The article has been prepared by the Secretariat of the ASB for information purposes only. It has not been reviewed, approved, or otherwise acted on by the Board.