CERTYNEX IFRS ACADEMY

Rirenne applies a new policy retrospectively: it adjusts equity at 1 January 2024 but presents the 2024 income statement as originally published. What is the error?

Closing equity of 2025 should have been adjusted.

The adjustment should have been made at 1 January 2025, the opening of the year of change.

The other comparative amounts, including 2024 profit, must also be restated.

The 2024 income statement must never be changed once published.