CERTYNEX IFRS ACADEMY

So as 'not to touch accounts already issued', Fenvane's finance director proposes recognising in 2025 an exceptional expense correcting a material 2024 error. What should he be told?

The proposal is acceptable if the error is smaller than 2025 profit.

The proposal is mandatory, since issued accounts can never be changed.

The correction is excluded from 2025 profit; the 2024 comparative is restated.

The proposal is acceptable if the expense is presented separately and explained in the notes.