Related party transactions

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Related party transactions by Mind Map: Related party transactions

1. Quick overview

2. Scope and definitions

2.1. Scope

2.1.1. Related party transactions

2.1.2. Awareness of related party issues and professional scepticism

2.2. Key definitions

2.3. Auditing standards and guidance

3. Audit objectives

4. Current issues and further resources

4.1. Further resources

5. Audit procedures

5.1. Related party transactions

5.1.1. Example tests

5.1.2. Substantive analytical procedures

5.1.3. Tests of detail

5.2. Completeness of related parties

5.2.1. Example tests

5.2.2. Substantive analytical procedures

5.2.3. Tests of detail

5.3. Directors' loans

5.3.1. Example tests

5.3.2. Substantive analytical procedures

5.3.3. Tests of detail

5.4. Significant or unusual transactions

5.4.1. Example tests

5.4.2. Substantive analytical procedures

5.4.3. Tests of detail

5.4.3.1. Related party transactions outside the normal course of business

5.5. Previously unidentified or undisclosed related parties or significant party transactions

5.5.1. Example tests

5.5.2. Substantive analytical procedures

5.5.3. Tests of detail

5.6. Written representations

5.6.1. Example tests

5.6.2. Substantive analytical procedures

5.6.3. Tests of detail

5.7. Presentation and disclosures

5.7.1. Treatment of transactions 'in the normal course of business' or 'at arm's length'

5.7.2. Example tests

6. Controls