Standards and Interpretations not mandatorily applicable to the Company as of January 1, 2024
Standards and amendments published by the IASB and endorsed by the European Union
The following standards and amendments published by the IASB and endorsed by the European Union are not mandatorily applicable as of January 1, 2024:
- Amendments to IAS 21 – ‘Lack of Exchangeability’.
The Company does not expect a material impact on the financial statements due to the adoption of this amendment.
Standards and amendments published by the IASB and not yet endorsed by the European Union
Other new standards and amendments have been published by the IASB but have not been endorsed yet by the European Commission. Early adoption is not possible until European Commission endorsement. Those which may be relevant to the Company are set out below:
- Amendments to IFRS 9 and IFRS 7 – ‘Classification and Measurement of financial instruments’;
- IFRS 18 – Presentation and Disclosure in Financial Statements;
- IFRS 19 – Subsidiaries without Public Accountability: Disclosures; and
- Annual Improvements to IFRS Accounting Standards - Volume 11.
- Amendments to IFRS 9 and IFRS 7 – ‘Contracts Referencing Nature-dependent Electricity’;
The Company does not expect a material impact on the financial statements due to adoption of these amendments and new IFRS accounting standards, apart for the application of the new presentation requirements arising from the adoption of IFRS 18, which the Company is currently assessing.