CERTYNEX IFRS ACADEMY

A trainee summarises the effective date of IFRS 18 for the audit committee of Onyx SA. Which of the trainee's sentences is wrong?

IFRS 18 cannot be applied before 1 January 2027 under any circumstances.

IFRS 18 applies to annual periods beginning on or after 1 January 2027.

An entity that applies IFRS 18 early discloses that fact in its notes.

Until IFRS 18 applies, IAS 1 remains applicable.