A type of control in which two parties or more contractually agree to share control of an arrangement (which is binding to all parties involved). The shared or joint or collective control doesn’t exist unless business decisions relating to the activities in question require the unanimous consent of the parties involved. An entity that is a party to a control arrangement shall assess the existence of control, and that all the parties or a specific group of the parties, can collectively exercise control, and as a result act together to direct the activities that significantly affect the benefits from the arrangement.

According to the type of joint arrangement, an entity needs to assess and account for its rights and obligations under the arrangement.