Under IFRS, which of the following disclosures is NOT required for the correction of an accounting error?
A) the amount of the correction made to each affected financial statement item for each prior period presented
B) the nature of the error
C) who was responsible for the error
D) the effect of the correction on both basic and diluted earnings per share for each prior period presented

Question

Quizplus · Accepted Answer

Under IFRS, the disclosure of who was responsible for the error is not required. The focus is on the nature of the error, the correction amounts for each affected financial statement item, and the impact on earnings per share, rather than assigning blame.

Under IFRS, Which of the Following Disclosures Is NOT Required