CERTYNEX IFRS ACADEMY

Semard developed a policy for a transaction not covered by IFRSs (case data). The closing file contains only the policy adopted, with neither the sources examined nor the reasoning. What is the main risk?

No risk: only the final policy needs to be kept.

Having to apply the tax method by default, for lack of sufficient documentation.

Having to restate all prior periods presented retrospectively.

Being unable to demonstrate that the policy produces relevant and reliable information.