> IFRS → associates are always related parties (disclosure under IAS 24.9(b)). Ok, just for the record you started saying that it wasn't so, talking explicitly

> IFRS → associates are always related parties (disclosure under IAS 24.9(b)). Ok, just for the record you started saying that it wasn't so, talking explicitly about what are related parties in IFRS: https://news.ycombinator.com/item?id=45720653 https://news.ycombinator.com/item?id=45720653 > Under U.S. GAAP (ASC 850), however, the definition is narrower. [...] associates accounted for under the equity method are not automatically treated as related parties unless reciprocal influence or common control exists. Is that definition written anywhere? According to the glossary in ASC 850: "Related parties include: [...] b Entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825-10-15, to be accounted for by the equity method by the investing entity" It says nothing about "reciprocal influence or common control" - only that investments would be required to be accounted for by the equity method. And that's a question of "significant influence". If Microsoft has "significant influence" on OpenAI (does it?) and is required to account for its investment in OpenAI using the equity method (is it?) then I don't see why it wouldn't be a related party according to ASC 850. Now, if it doesn't have "significant influence" and is not required to account for its investment using the equity method then it's not an "associate" under IFRS either. So it seems that if it's an IAS 24 related party it's also an ASC 850 related party. (At least until you provide some evidence for those reciprocal influence requirements you mention.)