Notes to the Group annual financial statements | Note 10.3

10. Accounting framework
10.3 Standards, amendments and interpretations not yet effective
 

The standards, interpretations and amendments listed below will only be effective in future reporting periods. It is expected that the Group will adopt the pronouncements on their respective effective dates. The amendments are not expected to have a material impact on the Group. 

Standards, interpretations and amendments issued but not effective Effective date

IFRS 3 (Business Combinations)
Asset or liability in a business combination clarity

Year ending 31 May 2023

IFRS 16 (Leases)Amendments to illustrative example 13 that accompanies IFRS 16 to remove the illustration of payments from the lessor relating to leasehold improvements

Year ending 31 May 2023

IFRS 9 (Financial Instruments) Fees in the 10 percent test for derecognition of financial liabilities

Year ending 31 May 2023

IAS 16 (Property, Plant and Equipment)Proceeds before intended use

Year ending 31 May 2023

IFRS 17 (Insurance Contracts) Amendments to address concerns and implementation challenges that were identified after IFRS 17 was published

Year ending 31 May 2024

IAS 1 (Presentation of Financial Statements)'Presentation of Financial Statements' on Classification of Liabilities as Current or Non-current

Year ending 31 May 2025

IAS 37 (Provisions, Contingent Liabilities and Contingent Assets)Onerous Contracts - Costs of Fulfilling a Contract

Year ending 31 May 2023

IAS 12 (Income Taxes)Amendments regarding deferred tax related to assets and liabilities arising from a single transaction

Year ending 31 May 2024

Narrow scope amendments to IAS 1 'Presentation of Financial Statements', Practice statement 2 and IAS 8 'Accounting Policies, Changes in Accounting Estimates and Errors'

Year ending 31 May 2024