RELATED-PARTY DISCLOSURE (10 marks) The following note is extracted from the 2021 annual report of Qantas Ltd: 32 RELATED PARTIES (A) REMUNERATION OF KEY MANAGEMENT PERSONNEL The aggregate remuneration of the KMP of the Qantas Group is set out below: 2021 $ 000 2020 5'000 7.333 611 Short-term employee benefits Post-employment benefits! Other long-term benefits Share-based payments 3.744 657 351 8.302 27 6,308 16.054 14.279 Required: A. Explain why key management personnel are considered as related parties of an entity (5 marks) B. Based on the definition of related party transactions, discuss the nature of the transactions involved in Note 32 between the key management personnel and Qantas