Transactions with related parties are
important to the auditors because they will
be disclosed in the financial statements if
material. Generally accepted accounting
principles would not require disclosure of
a. Loans to officers during the year
which had been repaid before the
balance sheet date.
b. The nature of the related-party
relationship.
c. A description of transactions, including
peso amounts.
d. The amounts due from and to related
parties
important to the auditors because they will
be disclosed in the financial statements if
material. Generally accepted accounting
principles would not require disclosure of
a. Loans to officers during the year
which had been repaid before the
balance sheet date.
b. The nature of the related-party
relationship.
c. A description of transactions, including
peso amounts.
d. The amounts due from and to related
parties