Related Party Transaction Log Template
Maintain a centralized log of all related party transactions for disclosure and control compliance purposes.
How to use this template
Define related parties
Establish criteria for identifying related parties (shareholders, management, affiliated entities, etc.).
Identify transactions
Search across all entity records for transactions involving related parties and document details.
Document terms and pricing
Record the business purpose, terms, pricing rationale, and any board approvals for each transaction.
Prepare disclosure
Compile information for financial statement footnote disclosure as required by accounting standards.
Why use this template
- Ensures all related party transactions are disclosed per ASC 850
- Supports management assertions on related party transactions
- Reduces audit procedures and findings
- Demonstrates good internal controls over transaction authorization
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