Under IFRS
A)comparative prior-period information must be presented, but financial statements need not be provided annually.
B)comparative prior-period informaton must be presented, and financial statements must be provided annually.
C)comparative prior-period information is not required, and financial statements need not be provided annually.
D)comparative prior-period information is not required, but financial statements must be provided annually.

Question

Quizplus · Accepted Answer

Under IFRS, comparative prior-period information must be presented and financial statements must be provided annually. This is in accordance with the IAS 1 standard which requires entities to present at least two years of comparative financial statements in their annual reports.