GRAP 20 - Related party disclosures

CPD hours:  1

Imagine a public sector entity preparing its annual financial statements—not just to report financial results, but to give stakeholders a full, transparent view of how decisions are made and who influences them. This is where GRAP 20 comes into play.

GRAP 20 provides the framework for disclosing related party relationships, transactions, and balances in South Africa’s public sector. It ensures that users of financial statements are informed about any relationships or dealings that could affect the financial position and performance of the entity—especially those involving close members of management, government departments, or state-owned enterprises.

For example, if a municipality enters into a lease agreement with a company owned by one of its senior officials, GRAP 20 requires that this relationship and the terms of the transaction be disclosed. This transparency helps prevent conflicts of interest, promotes integrity, and builds public trust in the management of public resources.

By standardising the disclosure of related party information, GRAP 20 enhances accountability and helps ensure that financial statements reflect not only what the entity has done, but also who has influenced those decisions. It is not just about compliance—it is about creating a culture of openness and fairness in the public sector.

What you will learn

By the end of this course, you will be able to:

• Identify and explain related parties to an entity.
• Explain the disclosure requirements for related parties and associated transactions.
• Discuss when an entity is exempt from certain disclosure requirements.

Important information

Please take note of the following important details regarding your course access and certification:

• Certificates will be issued on the date of successful completion of the assessment and will reflect that date.
• Course access is valid for 12 months, after which the course will close.
• No updates will be made to the course during the 12-month access period. If updates become available, they will be released in a new course available for purchase on our website.
• For the Altimax terms and conditions, please refer to our website.