BC270 For entities adopting IFRSs for the first time, the amendments made in 2011 are to be applied retrospectively as required by IFRS 1 First‑time Adoption of International Financial Reporting Standards. The Board included a temporary exemption for entities adopting IFRSs to use paragraph 173(b) for the same reasons as given in paragraph BC269(b). [Annual Improvements to IFRS Standards 2014-2016 Cycle, issued in December 2016, amended IFRS 1 First-time Adoption of International Financial Reporting Standards by deleting the short-term exemption for first-time adopters (see paragraph BC99 of IFRS 1), because it was no longer applicable.]