37 This Standard becomes operative for financial statements of retirement benefit plans covering periods beginning on or after 1 January 1988.

38 Disclosure of Accounting Policies, which amends IAS 1 Presentation of Financial Statements and IFRS Practice Statement 2 Making Materiality Judgements, and was issued in February 2021, amended paragraph 34. An entity shall apply that amendment for annual reporting periods beginning on or after 1 January 2023. Earlier application is permitted. If an entity applies the amendment for an earlier period, it shall disclose that fact. [In April 2024 the IASB issued IFRS 18 Presentation and Disclosure in Financial Statements and carried over the requirements to disclose material accounting policy information in IAS 1 Presentation of Financial Statements to IAS 8 Basis of Preparation of Financial Statements.]