Application of new and revised International Financial Reporting Standards (IFRSs)
The Group has not applied the following new and revised IFRSs that have been issued but are not yet effective:
|New or amended standards or interpretations||Effective date* - for annual periods beginning on or after|
|IFRS 2 Classification and Measurement of Share-based Payment Transactions"||1 January 2018|
|IAS 40 Transfers of objects of investment property||1 January 2018|
|IFRS 9 Financial Instruments||1 January 2018|
|IFRS 15 Revenue from Contracts with Customers (and the related Clarifications)||1 January 2018|
|IFRS 16 Leases||1 January 2019|
|Amendments to IFRS 10 and IAS 28 Sale or Contribution of Assets between an Investor and its Associate or Joint Venture||Date to be determined by the IASB**|
|Amendments to IAS 7 Disclosure initiative||1 January 2017|
|Amendments to IAS 12 Recognition of Deferred Tax Assets for Unrealised Losses||1 January 2017|
|Amendments to IFRS 4 Applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts||1 January 2018|
|IFRIC 22 Foreign Currency Transactions and Advance Consideration||1 January 2018|
|Amendments to IAS 40 Transfers of Investment Property||1 January 2018|
|Annual Improvements to IFRSs 2014-2016 Cycle||1 January 2017|
|*Early adoption is permitted for all new or amended standards and interpretations. IFRS 16 can be early adopted if IFRS 15
Revenue from Contracts with Customers has also been adopted.
** The amendment was initially issued in September 2014 with the effective date on 1 January 2016. In December 2015 the IASB deferred the effective date of the amendments indefinitely until the research project on the equity method has been concluded.
The Group is currently considering the potential impact of the adoption of these standards and amendments on the Group’s consolidated financial statements.