The statement of compliance with IAS 34

Learning objectives

• Explain that an entity whose interim financial report complies with IAS 34 must disclose that fact, and that a report may be described as complying with IFRS only if it complies with all of their requirements.L1, L2

Normative references

• IAS 34 §19If an interim financial report complies with the Standard, that fact is disclosed; an interim financial report is not described as complying with IFRS Accounting Standards unless it complies with all of their requirements.

Original summaries of the paragraphs (reference register), never a quotation of the standard.

1 question

• Corvane SA's half-year report contains a set of condensed statements prepared under IAS 34. Note 1 states "These financial statements comply with IFRS"; according to the case, management has not applied all the requirements of IFRS. What is the error?L2