Answer:
ABC Company
The type of improper disclosure scheme which ABC Company has engaged is called:
Financial statement fraud arising from non-disclosure of significant related party transactions.
Explanation:
Specifically, ABC Company is required to disclose transactions, outstanding balances, and commitments arising from the related parties, including the nature of the relationship. The disclosure requirements ensure that financial statements presented by ABC Company contain necessary information that can reveal the influence on its reported financial position and results arising from such relationships.
