3.15. New standards and interpretations and amendments thereto that have been published and endorsed by the european union, but have not come into force yet and are not applied by the Group
Annual Report
2019
2019
| STANDARDS AND INTERPRETATIONS |
DATE OF ISSUE /PUBLICATION |
EFFECTIVE DATE IN EU / DATE OF ENDORSEMENT BY EU |
DESCRIPTION OF CHANGES AND IMPACT |
|---|---|---|---|
| AMENDMENTS TO REFERENCES TO THE CONCEPTUAL FRAMEWORK IN IFRS |
29.03.2018 | 1.01.2020/29.11.2019 | The purpose of the amendments is to replace references to the previous conceptual framework in a number of standards and interpretations with references to the amended Conceptual Framework.The Group does not expect these amendments to have a material effect on the consolidated financial statements. |
| AMENDMENTS TO IAS 1 AND IAS 8: DEFINITION OF THE TERM ‘MATERIAL | 31.10.2018 | 1.01.2020/29.11.2019 | The amendments to IAS 1 and IAS 8 standardize and clarify the definition of ‘material’ and contain guidelines to increase the consistency of application of this concept in the International Financial Reporting Standards.The Group does not expect these amendments to have a material effect on the consolidated financial statements. |
| AMENDMENTS TO IFRS 9, IAS 39 AND IFRS 7 – IBOR REFORM |
26.09.2019 | 1.01.2020/15.01.2020 | The amendments introduce certain temporary, narrow departures from the requirements of hedge accounting included in IAS 39 and IFRS 9 which will enable entities to continue to comply with the applicable requirements, provided that the existing interest rate benchmarks do not change as a result of the interbank offering rate reform.
The Group does not expect these amendments to have a material effect on the consolidated financial statements. |