A material error appears in the second indent of the second paragraph of Article 30 of Commission Regulation (EC) No 20/2002(3).

An example of a fundamental error is the inclusion in the financial statements of a previous period of material amounts of work in progress and receivables in respect of fraudulent contracts which cannot be enforced.

(d) any other fundamental procedural defect defined in the Implementing Regulations occurred in the appeal proceedings; or

(b) if any material fact stated in the Recitals substantially alters or proves erroneous and the alteration or error either prejudices the interests of the Bank as lender to the Borrower or adversely affects the implementation or operation of the Project.

The provisions of the preceding paragraph shall not prevent the reopening of the case in accordance with the law and the penal procedure of the State concerned, if there is evidence of new or newly discovered facts, or if there has been a fundamental defect in the previous proceedings, which could affect the outcome of the case.

The prbvisons of the preceding paragraph shall not prevent the reopening of the case in accordance with law and penal procedure of the State concerned, if there is evidence of new or newly discovered facts, or if there has been a fundamental defect in the previous proceedings', which could affect the outcome of the case.

2 The provisions of the preceding paragraph shall not prevent the reopening of the case in accordance with the law and penal procedure of the State concerned, if there is evidence of new or newly discovered facts, or if there has been a fundamental defect in the previous proceedings, which could affect the outcome of the case.

requirements on changes in accounting policies in IAS 8 Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies;

IAS 8 Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies does not deal with changes in accounting policies that occur when an entity first adopts IFRSs.

The security of communication networks and information systems, in particular their availability, is therefore of increasing concern to society not least because of the possibility of problems in key information systems, due to system complexity, accidents, mistakes and attacks, that may have consequences for the physical infrastructures which deliver services critical to the well-being of EU citizens.

whereas on the same occasion the name or chemical description of some compounds should be rectified or made more precise and certain material errors should be corrected;

However, where the error relates to factual elements relevant for the calculation of the payment concerned, the first subpara-graph shall only apply if the decision to recover was not communicated within 12 months of the payment.

In other respects, a Community trade mark application may be amended, upon request of the applicant, only by correcting the name and address of the applicant, errors of wording or of copying, or obvious mistakes, provided that such correction does not substantially change the trade mark or extend the list of goods or services.

On the basis of this assessment the verifier shall conclude as to whether the data within the emissions report contains omissions, misrepresentations or errors that lead to material misstatement of the reported information.

As a broad guide, a verifier will tend to class a misstatement in the total emissions figure as being material if it leads to aggregate omissions, misrepresentations or errors in the total emissions figure being greater than five percent;

If the defect or damage is such that the contracting authority has been deprived substantially of the whole or a part of the benefit of the works, the contracting authority shall, without prejudice to any other remedy, be entitled to recover all sums paid in respect of the parts of the works concerned together with the cost of dismantling such parts and clearing the site.

The security of communication networks and information systems, in particular their availability, is therefore of increasing concern to society not least because of the possibility of problems in key information systems, due to system complexity, accidents, mistakes and attacks, that may have consequences for the physical infrastructures which deliver services critical to the well-being of EU citizens.

(a) requirements on changes in accounting policies in IAS 8 Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies; and

IAS 8 Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies does not deal with changes in accounting policies that occur when an entity first adopts IFRSs.

FUNDAMENTAL ERRORS

the nature of the fundamental error;

The financial statements, including the comparative information for prior periods, are presented as if the fundamental error had been corrected in the period in which it was made.

These errors are referred to as fundamental errors.

However, additional information is presented, often as separate columns, to show the net profit or loss of the current period and any prior periods presented as if the fundamental error had been corrected in the period when it was made.

corrections of fundamental errors in previously reported financial data;

the correction of fundamental errors and the effect of changes in accounting policies.

The correction of fundamental errors can be distinguished from changes in accounting estimates.

Every significant new factor, material mistake or inaccuracy relating to the information included in the prospectus which is capable of affecting the assessment of the securities and which arises or is noted between the time when the prospectus is approved and the final closing of the offer to the public or, as the case may be, the time when trading on a regulated market begins, shall be mentioned in a supplement to the prospectus.

it is also necessary to rectify certain material errors in Regulation (EEC) No 2377/90,

Net profit or loss for the period, fundamental errors and changes in accounting policies

The correction of the fundamental error is included in the determination of the net profit or loss for the current period.

Failures which have no significant effect on the operation of temporary storage or of the customs procedure

immediately, under IAS 8, net profit or loss for the period, fundamental errors and changes in accounting policies;

By its nature, the revision of the estimate does not bring the adjustment within the definitions of an extraordinary item or a fundamental error.

The amount of the correction of a fundamental error should be included in the determination of net profit or loss for the current period.

The following failures shall be considered to have no significant effect on the correct operation of the temporary storage or customs procedure in question within the meaning of Article 204 (1) of the Code, provided:

Fundamental errors are errors discovered in the current period that are of such significance that the financial statements of one or more prior periods can no longer be considered to have been reliable at the date of their issue.

therefore, it excludes extraordinary items and the effects of changes in accounting policies and of corrections of fundamental errors.

an adjustment to the opening balance of retained earnings resulting from either a change in accounting policy that is applied retrospectively or the correction of a fundamental error (see IAS 8, net profit or loss for the period, fundamental errors and changes in accounting policies);

requirements on changes in accounting policies in IAS 8 Net Profit or Loss for the Period, Fundamental Errors and Changes in Accounting Policies;

It also specifies the accounting treatment for changes in accounting estimates, changes in accounting policies and the correction of fundamental errors.

The amount of the correction of a fundamental error that relates to prior periods should be reported by adjusting the opening balance of retained earnings.

The following defects may be allowed provided the leeks retain their essential characteristics as regards the quality, the keeping quality and presentation:

For example, the gain or loss recognised on the outcome of a contingency which previously could not be estimated reliably does not constitute the correction of a fundamental error.

whereas, due to material errors, the duty rate for the import of some of these products and authorities of certain exporting countries were fixed incorrectly;

The tax effects of extraordinary items, fundamental errors and changes in accounting policies are accounted for and disclosed in accordance with IAS 12, income taxes.

The correction of fundamental errors that relate to prior periods requires the restatement of the comparative information or the presentation of additional pro forma information.

(i.e. any change is treated in the same way as a change in accounting estimate under IAS 8, net profit or loss for the period, fundamental errors and changes in accounting policies).

Where an enterprise first adopts this Standard for other employee benefits, the enterprise applies IAS 8, net profit or loss for the period, fundamental errors and changes in accounting policies.

adjust its financial statements for the change in accounting policy in accordance with IAS 8, net profit or loss for the period, fundamental errors and changes in accounting policies;