CERTYNEX IFRS ACADEMY

In 2025, Ponvane discovers that a 2023 liability was never recognised. The accountant records 'Exceptional expense 2025 / Liability'. What is the error?

The correction of a prior error is excluded from 2025 profit; it goes through opening balances and comparatives.

There is no error if the expense is presented separately.

The liability should have been credited to equity.

The liability must never be recognised since it dates from 2023.