BC7 The version of IAS 24 issued by the Board's predecessor in 1984 had no exemption for the disclosure of key management personnel compensation. In developing the 2002 ED, the Board proposed that the disclosure of management compensation, expense allowances and similar items paid in the ordinary course of business should not be required because:
(a) the approval processes for key management personnel compensation in some jurisdictions remove the rationale for related party disclosures;
(b) privacy issues arise in some jurisdictions where accountability mechanisms other than disclosure in financial statements exist; and
(c) requiring these disclosures placed weight on the determination of 'key management personnel' and 'compensation', which was likely to prove contentious. In addition, comparability of these disclosures would be unlikely until measurement requirements are developed for all forms of compensation.
BC8 However, some respondents to the 2002 ED objected to the proposed exem
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