CERTYNEX IFRS ACADEMY

In 2025, Garnelle corrects a material 2024 error by adjusting its equity at 1 January 2025, but presents the 2024 comparatives as published, with a mere note. What is the error?

A 2024 error cannot be corrected after the 2024 accounts are issued.

The comparative amounts for 2024, the period in which the error occurred, must be restated.

There is no error if the note is detailed.

The correction should have gone through 2025 profit, the year in which the error was discovered.