CERTYNEX IFRS ACADEMY

Prunelle's measurement procedure states: "IFRS 13 lets us freely choose, for each item, the unit to measure: we use the one that makes the team's work easier." What is the error?

The unit of account is set by the standard that requires or permits fair value (subject to IFRS 13), not by convenience.

The unit is chosen by the auditor during the audit of the annual accounts.

Only single items can be measured; groups of assets are excluded, which simplifies the valuation team's work.

The unit must always be the principal market of the item measured, whatever the case.