The new IFRS 17 standard and the amendments to IAS 1, IAS 8 and IAS 12 accepted by the EU and applicable to reporting periods commencing on or after 1 January 2023 do not have any material effect on the consolidated financial statements.
New standards and interpretations that have been issued but are not yet mandatory.
As at 31 December 2023, the following amendments to standards and interpretations had been published:
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Amendments to IAS 1 Presentation of Financial Statements - Classification of Liabilities as Current or Non-current (the 2020 and 2022 amendments), effective from 1 January 2024;
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Amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: disclosures, effective from 1 January 2024;
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Amendments to IAS 21 The Effects of Changes in Foreign Exchange Rates, effective from 1 January 2025; and
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Amendments to IFRS 16 Leases: Lease obligations in the event of a Sale and Leaseback, effective from 1 January 2024.
For the reporting period beginning on or after 1 January 2024, the above-mentioned new standards, amendments, and interpretations have been identified that have not yet been applied in the current consolidated financial statements. Following a preliminary assessment, we do not expect any of these future amendments to have a material impact on our Group's consolidated financial statements.