In your opinion who are related parties to the reporting entity?

A party is related to an entity if

 1. directly or indirectly through one or more intermediaries, it controls, is controlled by or is under common control with the entity eg parents subsidiaries and fellow subsidiaries., has an interest in the entity that gives it significant influence over the entity or has joint control over the entity.

2. it is an associate

3. it is a joint venture in which the entity is a venturer

4. it is a member of the key management personnel of the entity or its parent

5. it is close member of the family of any individual referred to above

6 it is an entity that is controlled, jointly controlled or significantly influenced .

7. it is a post-employment benefit plan for the benefit of employees of the entity, or of any entity that is a related party of the entity. IAS Twenty four.

According to IAS Twenty Four

A related party is a person or entity that is related to the entity that is preparing its financial  statements (referred to as the ‘reporting entity’).

(a) A person or a close member of that person’s family is related to a reporting entity if that person:

(i) has control or joint control over the reporting entity;

(ii) has significant influence over the reporting entity; or

(iii) is a member of the key management personnel of the reporting entity or of a parent of the reporting entity.

(b) An entity is related to a reporting entity if any of the following conditions applies:

(i) The entity and the reporting entity are members of the same group (which means that each parent, subsidiary and fellow subsidiary is related to the others).

(ii) One entity is an associate or joint venture of the other entity (or an associate or joint venture of a member of a group of which the other entity is a member).

(iii) Both entities are joint ventures of the same third party.

(iv) One entity is a joint venture of a third entity and the other entity is an associate of the third entity.

(v) The entity is a post-employment benefit plan for the benefit of employees of either the reporting entity or an entity related to the reporting entity. If the reporting entity is itself such a plan, the sponsoring employers are also related to the reporting entity.

(vi) The entity is controlled or jointly controlled by a person identified in (a).

(vii) A person identified in (a)(i) has significant influence over the entity or is a member of the key management personnel of the entity (or of a parent of the entity).

: frank mwansa  has given a list which is a good answer