While the original application date of the standard for an existing IFRS preparer was 1 January 2005, what is the effective date for entities that adopt IFRS subsequent to 1 January 2005?
A. 1 January 2006
B. The beginning of the interim period following the transition to IFRS
C. The date of transition to IFRS
For entities that adopt IFRS subsequent to 1 January 2005, the effective date for the application of the relevant IFRS standards would be the beginning of the interim period following the transition to IFRS. Therefore, the correct answer is:
B. The beginning of the interim period following the transition to IFRS.
