Read and understand the definition of a related party as stated in paragraph 9 of the IAS 24.

Present preferably ONE (maximum of 2) flow diagram (or a detailed diagram or a chart or a pictorial representation) that will pictorially, clearly and simply explain all the possible related party relationships from the point of view of the Reporting Entity (RE).

i. The RE should be in the centre of your flow diagram

ii. Exclude the entities stated in paragraph 9 (b) (iii), (iv) and (v) from your flow diagram.

iii. Keep your flow diagram simple. For example, you only need to include one subsidiary and 1 director of the RE although, in reality, the RE may have more than one subsidiary and director. The goal of the project is not to make the flow diagram complicated. The goal is to allow the reader of your diagram to have a snapshot of the related party relationships from the point of view of one RE.