{"product_id":"related-party-transactions-procedure-tm1030","title":"Related Party Transactions Procedure | TM1030","description":"\u003ch2\u003e\n\u003cimg src=\"https:\/\/www.bizmanualz.com\/wp-content\/uploads\/2013\/05\/easily-editable-in-ms-word.png\" alt=\"easily editable policies procedures in ms word\" width=\"123\" height=\"124\" loading=\"lazy\"\u003e\u003cstrong\u003eRelated Party Transactions Procedure\u003c\/strong\u003e\n\u003c\/h2\u003e\n\u003cp\u003eThe Related Party Transactions Procedure ensures that such transactions are in the best interest of the company and in compliance with disclosure requirements. The procedure sets guidelines to avoid potential conflicts of interest and to communicate policies to affected members of the organization. It applies to the Finance Department, Board of Directors, and to all employee with the potential for related party transactions. \u003cstrong\u003e(10 pages, 1803 words)\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003e Related Party Transactions Responsibilities: \u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003eThe \u003cspan\u003eCFO\u003c\/span\u003e (Chief Financial Officer) is responsible for annually reviewing and updating related party transaction policies and procedures with Top Management and the Board of Directors; and reviewing, approving, and disclosing related party transactions. The CFO is also responsible for annually distributing the Related Party Transaction Conflict of Interest Questionnaire.\u003c\/p\u003e\n\u003cp\u003eThe \u003cspan\u003eBoard of Directors\u003c\/span\u003e should review approved related party transactions and set auditing or monitoring practices according to the requirements of each individual case.\u003c\/p\u003e\n\u003cp\u003e\u003cstrong\u003eRelated Party Transactions Definitions:\u003c\/strong\u003e\u003c\/p\u003e\n\u003cp\u003e\u003cspan\u003eRelated Party Transactions\u003c\/span\u003e – A business deal or arrangement between two parties who have an existing, prior relationship (i.e. a purchasing agent buying materials from a company owned by a spouse).  Transactions that exceed $120,000 per year concerning executives, directors, and stockholders with 5% or more of company stock (or an immediate family member) legally require disclosure to the SEC for publicly traded companies per Security \u0026amp; Exchange Commission Regulation S-K Item 404(b).\u003c\/p\u003e\n\u003cp\u003e\u003cspan\u003eSecurities and Exchange Commission (SEC – USA)\u003c\/span\u003e – Government commission created by the Securities Exchange Act of 1934 to regulate securities markets and protect investors.\u003c\/p\u003e\n\u003ch2\u003e\n\u003cimg src=\"https:\/\/www.bizmanualz.com\/wp-content\/uploads\/2013\/05\/Related-Party-Transaction-Policy-261x300.jpg\" alt=\"Related Party Transactions Procedure\" width=\"212\" height=\"243\" loading=\"lazy\"\u003e\u003cstrong\u003eRelated Party Transactions Procedure Activities\u003c\/strong\u003e\n\u003c\/h2\u003e\n\u003cul\u003e\n\u003cli\u003eRelated Party Transactions Plan\u003c\/li\u003e\n\u003cli\u003eRelated Party Transactions\u003c\/li\u003e\n\u003cli\u003eRelated Party Transactions Review\u003c\/li\u003e\n\u003cli\u003eImproving Related Party Transactions\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch2\u003e\u003cstrong\u003eRelated Party Transactions Procedure References\u003c\/strong\u003e\u003c\/h2\u003e\n\u003cul\u003e\n\u003cli\u003eSecurities and Exchange Act of 1934\u003c\/li\u003e\n\u003cli\u003eSEC General Regulation S-K (17 CFR 229, USA)\u003c\/li\u003e\n\u003cli\u003eFASB Statement of Financial Accounting Standards No. 57, “\u003ca target=\"_blank\" rel=\"noopener\"\u003eRelated Party Disclosures\u003c\/a\u003e“\u003c\/li\u003e\n\u003cli\u003eFASB Statement on Auditing Standards No. 6, \u003ci\u003eRelated Party Transactions\u003c\/i\u003e\n\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003ch2\u003e\u003cstrong\u003eRelated Party Transactions Procedure Forms\u003c\/strong\u003e\u003c\/h2\u003e\n\u003cul\u003e\n\u003cli\u003e\u003ca title=\"Related-Party Transaction Conflict-of-Interest Questionnaire Template TM1030-1\" href=\"https:\/\/www.bizmanualz.com\/related-party-transaction-conflict-of-interest-questionnaire-template\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"\u003eRelated Party Transaction Policy and Conflict of Interest Questionnaire Form\u003c\/a\u003e\u003c\/li\u003e\n\u003cli\u003e\u003ca title=\"Related-Party Transaction Questionnaire Log Template TM1030-2 \" href=\"https:\/\/www.bizmanualz.com\/related-party-transaction-questionnaire-log-template\" target=\"_blank\" rel=\"noopener noreferrer nofollow\"\u003eRelated Party Transaction Questionnaire Log Form\u003c\/a\u003e\u003c\/li\u003e\n\u003c\/ul\u003e\n\u003cp\u003e \u003c\/p\u003e","brand":"Bizmanualz","offers":[{"title":"Default Title","offer_id":50564786159754,"sku":"TM1030","price":35.99,"currency_code":"USD","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0801\/3955\/0858\/files\/14828.png?v=1792963615","url":"https:\/\/shopvirexora.shop\/products\/related-party-transactions-procedure-tm1030","provider":"Westvale Goods","version":"1.0","type":"link"}