ANNEX

IFRS 1 — FIRST-TIME ADOPTION OF INTERNATIONAL FINANCIAL REPORTING STANDARD

INTERNATIONAL FINANCIAL REPORTING STANDARD 1

First-time adoption of International Financial Reporting Standards

RECOGNITION AND MEASUREMENT

Cumulative translation differences

22. However, a first-time adopter need not comply with these requirements for cumulative translation differences that existed at the date of transition to IFRSs. If a first-time adopter uses this exemption:
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Repealed by Commission Regulation (EC) No 1126/2008 of 3 November 2008 adopting certain international accounting standards in accordance with Regulation (EC) No 1606/2002 of the European Parliament and of the Council (Text with EEA relevance).