1.4 Discuss fair presentation and compliance with IFRS as one of the eight general features when preparing financial statements under the following heading:

1.4.1 How can it be presumed that financial statements comply with fair presentation? (2 marks)

1.4.2 When should financial statements be described as complying with IFRSs? (2 marks)

1.4.3 Discuss whether it is possible to rectify inappropriate accounting treatment. (2 marks)