Yes, related party transactions that involve the recharge of expenses between related parties should be disclosed in accordance with IAS 24, Related Party Disclosures.
According to IAS 24, related party transactions include transactions between an entity and its related parties, regardless of whether a price is charged. This includes transactions where one related party raises an invoice to another related party for expenses that have been incurred.
The entity should disclose the nature of the relationship between the related parties and the nature and terms of the transactions. The amounts of the transactions and outstanding balances should also be disclosed, either in the financial statements or in the notes to the financial statements.
It's important to note that recharged expenses between related parties should be measured at the amount of consideration established and agreed between the parties involved. If no consideration has been established and agreed, the amounts should be measured at the fair value of the goods or services provided.
It's also important to note that the transactions should be recorded in the financial statements at the amount of consideration established and agreed between the parties involved or at the fair value of the goods or services provided.
