CERTYNEX IFRS ACADEMY

Kindouël, until now only an occupier of its premises, leases a building to a third party for the first time and adopts a policy for this type of property. The controller wants to restate comparatives 'for the change in policy'. What is the answer?

It is a voluntary change to be applied retrospectively.

There is no change in policy: the policy applies to transactions that had not occurred before.

It is a change in estimate, to be dealt with prospectively from the date the building is first leased out.

It is a prior period error, since the policy did not exist.