CERTYNEX IFRS ACADEMY

Hautvane plans to discontinue a business that meets the definition of a discontinued operation. How do IAS 37 and IFRS 5 interact for the restructuring provision?

IFRS 5 replaces IAS 37: no provision is recognised under IAS 37.

IAS 37 applies only to restructurings without a discontinued operation.

IAS 37 applies to the provision; IFRS 5 may require additional disclosures.

The provision is measured under IFRS 5 and presented under IAS 37.