Title: IAS-24 related party disclosure compliance and corporate governance: evidence from an emerging market
Authors: Ben Kwame Agyei-Mensah
Addresses: SolBridge International School of Business, 128 Uam-Ro, Dong-gu, Daejeon, South Korea
Abstract: This paper aims to measure the extent of related party transactions disclosure and investigates their determinants in 110 selected firms in Ghana. An index was manually constructed for related party transactions disclosure in accordance with International Financial Reporting Standards (IFRS) (IAS 24) using company financial statements. Empirical results show high mean compliance level of 63% of related party transactions disclosure in Ghana. Furthermore, the multiple regression analysis (OLS) shows that related party transactions disclosure has significant relationships with block-holders' ownership and the presence of an independent audit committee. This is one of the few studies conducted in Sub-Saharan Africa.
Keywords: corporate governance; mandatory disclosure; IAS 24; related party transactions; Ghana.
DOI: 10.1504/AAJFA.2021.120446
Afro-Asian Journal of Finance and Accounting, 2021 Vol.11 No.6, pp.897 - 917
Accepted: 13 Sep 2019
Published online: 21 Jan 2022 *