Y Co adopts IFRS for the first time for its financial statements for the year ended 31 December 20X5. ?

Which of the following statements is true under IFRS1, first time adoption of international financial reporting standards?

a- The opening balances at1 JanuaryX4, and the financial statements for the years ended DecemberX4 (Comparatives) and DecemberX5 must comply with IFRS in force at DecemberX5.

b- The opening balances at1 JanuaryX4, and the financial statements for the years ended DecemberX4 (Comparatives) and DecemberX5 must comply with IFRS in force at1 JanuaryX4.