CERTYNEX IFRS ACADEMY

Jaumac's 2024 accounts were authorised on 10 March 2025. In June 2025, a customer that had been solvent is put into liquidation after a fire in May 2025. The controller writes: 'We must restate 2024 to recognise this loss.' What is the mistake?

The loss should have been charged directly to opening 2025 equity.

The information did not exist when the 2024 accounts were authorised: there is no prior period error.

The loss should have been deferred to future years, prospectively.

None: any loss revealed the following year requires a restatement.