Integrated report 2020
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Integrated report 2020
The following standards, changes in already effective standards and interpretations are not endorsed by the European Union or are not effective as at January 1, 2020:
| Standard | Description of changes | Effective date |
|---|---|---|
| IFRS 14 Regulatory Deferral Accounts | The principles of accounting and disclosure for regulatory deferral accounts | In its current version, the standard will not be effective in the EU |
| Amendments to IFRS 10 and IAS 28 | The guidelines concerning sales transactions or an investor’s contribution of assets to an associate or a joint venture | Work on the approval of the changes has been suspended indefinitely |
| IFRS 17 Insurance contracts | The standard defines a new approach to revenue recognition and profit/loss in a period of providing insurance services | January 1, 2023 |
| Amendments to IAS 1 | Changes relate to the presentation of financial statements – classification of liabilities as current and non-current | January 1, 2023 |
| Amendments to IAS 1 | Changes relate to the presentation of the financial statements – disclosures of accounting policies applied | January 1, 2023 |
| Amendments to IAS 8 | Changes relate to disclosures of accounting policies applied, including changes in accounting estimates and adjustment of errors | January 1, 2023 |
| Amendments related to the review of IFRSs, cycle 2018-2020 | Changes to IFRS 1, IFRS 9, IFRS 16 and IAS 41 relate mainly to the resolution of inconsistencies and clarifying terminology | January 1, 2022 |
| Amendments to IFRS 3 | Changes to the references to the conceptual framework | January 1, 2022 |
| Amendments to IAS 16 | Revenue received prior to bringing a fixed asset into use | January 1, 2022 |
| Amendments to IAS 37 | Onerous Contracts — cost of fulfilling a contract | January 1, 2022 |
| Amendments to IFRS 4 | Extension of the temporary exemption from IFRS 9 | January 1, 2021 |
| Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4, IFRS 16 – stage 2 | Changes relate to the reform of reference interest rates | January 1, 2021 |
| Amendments to IFRS 16 | COVID-19 Related Rent Concessions | June 1, 2020 |
The PGE Capital Groups intends to accept the aforementioned standards and changes to standards and interpretations as published by the International Accounting Standards Board, but not effective as at the reporting date, after they have entered into force.
The above regulations will not have a material impact on the future financial statements of the PGE Capital Group.