Adoption of new or revised standards and interpretations
The following new standards, amendments to standards and interpretations became effective for the Group from 1 January 2016:
New or amended standard or interpretation:
- IAS 1 (Amended) “Disclosure Initiative”
- IAS 16 (Amended) IAS 38 (Amended) “Clarification of Acceptable Methods of Depreciation and Amortisation
- IAS 27 (Amended) “Equity Method in Separate Financial Statements”
- IFRS 10 (Amended), IFRS 12 (Amended) and IAS 28 (Amended) “Investment Entities: Applying the Consolidation Exception”
- IFRS 11 (Amended) “Accounting for Acquisitions of Interests in Joint Operations”
- IFRS 14 “Regulatory Deferral Accounts”
- Annual improvements to IFRSs 2012-2014 Cycle.
The application of these amendments has had no impact on the disclosures or the amounts recognised in the Group's consolidated financial statements.