1.2 Adoption of new and revised accounting standards
Amendments, standards and interpretations adopted for the first time in 2020
At 1 January 2020, the following amendments to the International Financial Reporting Standards (IFRS) entered into force and were applied by the Alpiq Group:
- Amendments to the Conceptual Framework for Financial Reporting
- Amendments to IAS 1 and IAS 8: Definition of Material
- Amendments to IFRS 3: Definition of a Business
- Amendments to IFRS 9, IAS 39 and IFRS 7: Interest Rate Benchmark Reform – Phase 1
- Amendments to IFRS 16: COVID-19-Related Rent Concessions (early adopted)
These amendments had no significant impact on the Alpiq Group.
IFRSs effective in future periods
The IASB has published the following standards and interpretations of relevance for Alpiq:
|
Standard / interpretation |
Effective at |
Adoption planned from |
|
Amendments to IFRS 9, IAS 39 und IFRS 7: IBOR Reform and its Effects on Financial Reporting – Phase 2 |
1 Jan 2021 |
1 Jan 2021 |
|
Amendments to IAS 16: Proceeds before intended Use |
1 Jan 2022 |
1 Jan 2022 |
|
Amendments to IAS 37: Onerous Contracts – Cost of Fulfilling a Contract |
1 Jan 2022 |
1 Jan 2022 |
|
Amendments to IAS 1: Classification of Liabilities as Current or Non-Current |
1 Jan 2023 |
1 Jan 2023 |
|
IFRS 17: Insurance Contracts |
1 Jan 2023 |
1 Jan 2023 |
|
Amendments to IFRS 10 and IAS 28: Sale of Assets by an Investor or Contribution to their Associate or Joint Venture |
indefinite |
indefinite |
Based on previous analyses, Alpiq does not expect the aforementioned changes in standards to have any significant effect on the consolidated financial statements of the Alpiq Group.