Which entity is responsible for disclosing compensation received by key management personnel under IAS 24?

The correct answer is that the company itself is responsible for disclosing compensation received by key management personnel under IAS 24. IAS 24, which deals with related party disclosures, specifically requires the company to provide information about compensation for key management personnel in order to enhance transparency and allow stakeholders to assess the impact of these transactions on the company's financial position and performance.

This obligation falls squarely on the company as it is the entity that is most familiar with its internal operations and management structure. By disclosing this information, the company demonstrates accountability and provides a clearer picture of how management compensation may affect the entity's financial statements and, by extension, its shareholders and other stakeholders.

While regulatory bodies may set the standards or guidelines that dictate these disclosures, it is not their role to disclose the information directly; rather, it is the company's responsibility to ensure compliance with these regulations. Shareholders and external auditors play different roles in the ecosystem; shareholders benefit from the information provided, and external auditors may review the disclosures as part of their audit responsibility, but they do not assume the responsibility of disclosure.