2.3 New standards and interpretations published, not yet effective
The following standards, changes in already effective standards and interpretations are not endorsed by the European Union or were not effective as at 1 January 2023:
| Standard | Description of changes | Effective date |
|---|---|---|
| IFRS 14 Regulatory Deferral Accounts | The principles of accounting and disclosure for regulatory deferral accounts. | In accordance with the decision of the European Commission, the approval process of the standard in its preliminary version will not be initiated before the standard in its final version is published. |
| Changes 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 |
| Changes to IAS 1 | Changes relate to the presentation of financial statements – classification of liabilities as current and non-current | 1 January 2024 |
| Changes to IFRS 16 | Changes related to the manner of valuation of liabilities under sale and leaseback transactions. | 1 January 2024 |
| Changes to IAS 7 | Changes related to disclosures in cash flow statements | 1 January 2024 |
| Changes to IAS 21 | The changes relate to the effects of changes in foreign currency exchange rates – lack of convertibility | 1 January 2025 |
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.