Which of the following statements about IFRS 13 disclosure requirements is false?
IFRS 13 requires disclosures with respect to fair value measurements on initial recognition of an asset or liability and for nonrecurring fair value measurements.
The requirements vary for recognized fair value measurements based on whether they are recurring or nonrecurring and the categorization within the hierachy.
The disclosures help users to understand the effect of fair value measurements on the financial statements when fair value is based on unobservable inputs.
The disclosures enable users of financial statements to understand the valuation techniques and inputs used to develop fair value measurements.
The false statement about IFRS 13 disclosure requirements is that it suggests IFRS 13 does not require disclosures with respect to fair value measurements on initial recognition of an asset or liability. According to IFRS 13, there are requirements for disclosure of both recurring and nonrecurring fair value measurements, including those involving unobservable inputs, as the standard aims to provide transparency to financial statement users about the methods, techniques, and inputs employed in fair value assessments.
