A related party transaction is defined by auditing standards as a transaction by an affiliated company, a principal owner of the client company, or any other party the client deals where one can influence the management or operating policies of the other. Examples of related party transactions include sale or purchase transactions between a parent company and a subsidiary, exchanges of equipment between two companies owned by the same person, and loans to officers (Arens, Elder, Beasley, 2004. P.216). Not all related party transactions are illegal, however they must be disclosed because they are not arm length transactions. These type of transactions lack independence.
In Exodus 23:8, the New Living Translation, we are told to take no bribe
In Exodus 23:8, the New Living Translation, we are told to take no bribe