CERTYNEX IFRS ACADEMY

A financial statements preparer at Rubis SA summarises the requirements of IAS 1 on accounting policy information. Which of the preparer's sentences is wrong?

Accounting policy information is material as soon as it repeats the text of an IFRS standard, whatever its usefulness to users.

Accounting policy information is material if, together with other information in the financial statements, it can reasonably be expected to influence the decisions of the primary users.

Accounting policy information can be material because of its nature, even if the amounts concerned are not material.

Immaterial accounting policy information must not obscure material information.