CERTYNEX IFRS ACADEMY

A new IFRS, effective from this year, changes the accounting for a class of Gelbenne's contracts. Must Gelbenne show that the change provides more relevant information?

No: the change is required by an IFRS, which is enough to justify it.

Yes: every change in policy must show increased relevance, including one resulting from a new mandatory IFRS.

Yes, otherwise it may keep its former policy.

No, but it must obtain its auditor's agreement.