Integrated report 2021

2.3 New standards and interpretations published, not yet effective

The following standards, amendments to existing standards and interpretations are not yet endorsed by the European Union or are not effective as at January 1, 2021:

Standard Description of changes Effective date
IFRS 14 Regulatory Deferral Accounts Accounting and disclosure principles for regulatory deferral accounts. In accordance with a decision by the European Commission, the approval process for the standard in its preliminary version will not begin before the final version is published.
Amendments to IFRS 10 and IAS 28  Contains guidelines on the sale or contribution of assets between an investor and its joint venture or associate. Postponed indefinitely
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, 2023
Amendments to IAS 1 The changes concern presentation of financial statements – Classification of Liabilities as Current or Non-current January 1, 2023
Amendments to IAS 1 The amendments concern the presentation of financial statements – disclosures regarding the applied accounting policy January 1, 2023
Amendments to IAS 8 The amendments concerning disclosures regarding the applied accounting policy, including changes in estimated values and correcting errors January 1, 2023
Amendments resulting from IFRS annual improvement cycle 2018-2020 Amendments to IFRS 1, IFRS 9, IFRS 16 and IAS 41 mainly concern the resolution of inconsistencies and clarification of terminology. January 1, 2022
Amendments to IFRS 3 Amendments to References to the Conceptual Framework January 1, 2022
Amendments to IAS 16 Proceeds from property, plant and equipment before intended use January 1, 2022
 Amendments to IAS 37 Onerous Contracts — Cost of Fulfilling a Contract January 1, 2022
 Amendments to IFRS 16  Covid-19-Related Rent Concessions April 1, 2021
Amendments to IAS 12 Deferred Tax related to Assets and Liabilities arising from a Single Transaction January 1, 2023
 Amendments to IFRS 17 Insurance Contracts First-time Adoption of IFRS 17 and IFRS 9 – Comparative Data January 1, 2023

PGE Group intends to adopt the above-mentioned new standards and amendments to IFRS standards and interpretations published by the International Accounting Standards Board, but not effective as at the reporting date, in accordance with their effective date.

These regulations will not have a material impact on PGE Group’s future financial statements.

Go to the top

Search results