If the management of a business believes that following IFRS will not result in a fair presentation of financial position and performance O Then IFRS need not be followed, but extensive notes explaining the departure are required. O Then IFRS need not be followed if the XRB grants an exemption. O More than one of the other answers is true. O Then IFRS must still be followed, but extensive notes explaining the disagreement are required. O Then IFRS need not be followed if the IASB grants an exemption