Significant accounting policies
New and amended standards and interpretations adopted
The accounting policies set out below have been applied consistently to all periods presented in these financial statements, unless otherwise stated.
The following amendments to existing standards and framework have been applied by the Group in preparation of these consolidated financial statements. The application of these amendments to IFRSs has not had any material impact on the amounts reported for the current and prior periods but may affect the accounting for the Group’s future transactions or arrangements.
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Description |
Effective from |
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Reference to the Conceptual Framework (Amendments to IFRS 3) |
1 January 2022 |
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Property, Plant and Equipment: Proceeds before Intended Use (Amendments to IAS 16) |
1 January 2022 |
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Onerous Contracts – Cost of Fulfilling a Contract (Amendments to IAS 37). |
1 January 2022 |
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First-time Adoption of International Financial Reporting Standards: Subsidiary as a first-time adopter (Annual improvements to IFRS 1) |
1 January 2022 |
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Financial Instruments: Fees in the ’10 per cent’ test for derecognition of financial liabilities (Annual improvements to IFRS 9) |
1 January 2022 |
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COVID-19-Related Rent Concessions beyond 30 June 2021 (Amendment to IFRS 16) |
1 January 2022 |
