5 An enterprise has made a material change to an accounting policy in preparing its current financial statements. Which of the following disclosures are required by IAS 8 Accounting policies, changes in accounting estimates and errors in these financial statements? 1 The reasons for the change. 2 The amount of the consequent adjustment in the current period and in comparative information for prior periods. 3 An estimate of the effect of the change on future periods, where possible.