CERTYNEX IFRS ACADEMY

After the reporting period, Vaurval loses its two main customers and its cash collapses. Management assesses going concern solely on the basis of the position at 31 December. What is the error?

Not restating the prior-year comparatives.

There is no error: only the position at the reporting date counts.

Not recognising a provision at 31 December for future revenue losses.

Ignoring the deterioration after the reporting period in assessing going concern.