Final answer:
IAS 1 allows entities to depart from international accounting standards under certain circumstances and with proper disclosure.
Step-by-step explanation:
IAS 1 Presentation of Financial Statements states that entities can depart from international accounting standards if it is necessary to give a true and fair view of their financial statements. However, departure should only occur in rare circumstances and only if specific criteria are met. The departure and its reasons should be disclosed in the financial statements, including the justification for the departure and the impact it has on the financial statements.