CERTYNEX IFRS ACADEMY

Halvane measured a portfolio of unquoted shares using a given valuation technique. Case data: new market information arising in the year makes another technique more representative of fair value, and Halvane changes to it. How is the resulting revision of fair value treated?

As a change in accounting policy under IAS 8, applied retrospectively with restatement of comparatives.

As a change in accounting estimate under IAS 8, without the disclosures IAS 8 requires for such a change.

As a change in accounting estimate under IAS 8, with all the disclosures IAS 8 requires for such a change.

As the correction of a prior period error, the previous technique having become unsuitable.