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*Question 1*(Related party transactions) FRS 124 defines related parties as parties are being considered to be related if one party has the ability to control

*Question 1*(Related party transactions) FRS 124 defines related parties as parties are being considered to be related if one party has the ability to control the other party or exercise significant influence over the other party in making financial and operating decisions. Describe the responsibilities of management and auditors towards related party transactions

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