CERTYNEX IFRS ACADEMY

A Level 2 instrument becomes Level 1 during the year. What must the entity disclose about the timing of such transfers between levels?

Its policy for determining when transfers occur, which it applies consistently.

Nothing, because a transfer between levels is an internal operation with no effect on published information.

A different timing each year, chosen according to the effect on the period's profit or loss.

The annual reporting date, which the standard imposes for all transfers.