A Departure from Australian Accounting Standards May Be Allowed If

A departure from Australian Accounting Standards may be allowed if two conditions are met.These are that management concludes that compliance would be so misleading that it would conflict with the objective of financial statements,and:

A) it will not result in a material impact on the profit or loss;
B) it is not prohibited by the relevant regulatory framework;
C) that all directors of the entity approve of the departure in writing;
D) that all creditors of the entity ratify the departure at the entity's next annual meeting.