methods under IAS 21. (22 marks Question 4 The current version of IAS 12 has major changes from the one first issued in 1979. The original Standard basically allowed deferred tax to be calculated based on any method available - deferral or liability method, full or partial provision and was based on an income statement approach. Th current IAS 12 is based on a balance sheet approach, and the international accounting standard setter requires an entity to provide for deferred tax in full for all deferred tax liabilities with limited exceptions. Critically discuss the following statement: "Comparability requires that either all entities provide in full for deferred tax or that is always ignored