Remember Enron? There is so much that accountants have to be thankful for as a result of The Enron Situation - Sarbanes Oxley, the PCAOB, and auditor independence rules, to name a few. One of the issues that was raised during the height of The Enron Situation had to do with trying to decide what constituted a "related party" situation that needed to be reported to shareholders.
After the barn door was closed, the SEC issued some guidance on related party disclosures. Now the PCAOB is getting ready to issue an official auditing standard on such disclosures. If you would like to weigh in, you have until May 15 to voice your opinions, objections, kudos, etc.