Have your say on the Post-implementation Review of GRAP 109 (ED 200)

An article on Identifying roles in a principal-agent arrangement – who is acting on behalf of who? explains what an entity considers to assess if it is the agent in a principal-agent arrangement. The ED asks the following related questions to preparers of financial statements:

How do you experience applying the criteria in GRAP 109.25 to assess whether an entity is the agent in a principal-agent arrangement?

How do you understand and assess criterion (c) the entity is not exposed to variability in the results of the transaction?

In your view, are there any other criteria that should be included in GRAP 109.25 to identify whether an entity is an agent in a principal-agent arrangement? Please provide details.

To respond to these questions, access the Exposure Draft here. The comment deadline is 15 September 2023.