CERTYNEX IFRS ACADEMY

On first application of IFRS 13, what does the standard provide for the disclosures relating to comparative periods before the first application?

They must be prepared retrospectively for all comparative periods presented.

They are replaced by a general statement, with no figures, for the comparative periods.

They need not be applied to comparative information provided for periods before initial application.

They are required for the comparative periods, but only for Level 3 measurements.