For each of the following situations, identify the type of change, and whether the change (or correction) should be made prospectively or retrospectively. (d) In the current year it was announced that the IFRS accounting policy for a specific type of transaction had changed. The new policy specified that all companies affected by the change were required to restate all prior years that would be shown on their comparative financial statements. (e) Management of the company elected to change from one depreciation method to another, on the rationale that the pattern of benefits had changed