Tools
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, 2019:
| Standard | Description of changes | Effective date |
|---|---|---|
| IFRS 14 Regulatory Deferral Accounts | Accounting and disclosure principles for regulatory deferral accounts | Standard in the current version will not be effective in the EU |
| Amendments to IFRS 10 and IAS 28 |
Deals with the sale or contribution of assets between an investor and its joint venture or associate | Postponed indefinitely |
| Amendments to the Conceptual Framework | These amendments aim to harmonise the Conceptual Framework | January 1, 2020 |
| IFRS 17 Insurance contracts | Defines a new approach to recognising revenue and profit/loss in the period in which insurance services are provided | January 1, 2021 |
| Amendments to IFRS 3 | These changes clarify the definition of economic activity | January 1, 2020 |
| Amendments to IAS 1 and IAS 8 | The amendments concern the definition of 'material’. | January 1, 2020 |
| Amendments to IFRS 9, IAS 39 and IFRS 7 | The amendments concern the reform of the benchmark rate | January 1, 2020 |
PGE Group intends to adopt the above mentioned new standards, amendments to standards and interpretations published by the International Accounting Standards Board but not yet effective at the reporting date, when they become effective.
These regulations will not have a significant effect on the future financial statements of PGE Group.
