New and amended IFRS standards that are effective for the current year
In the current year, Vesteda has applied a number of amendments to IFRS Standards and Interpretations issued by the International Accounting Standards Board (IASB) – and endorsed by the European Union – that are effective for an annual period that begins on or after 1 January 2019. Vesteda did not adopt any new or amended standards issued but not yet effective.
Annual Improvements to IFRS Standards 2015-2017 Cycle
Amendments to IAS 19: Plan Amendment, Curtailment or Settlement
Amendments to IAS 28: Long-term Interests in Associates and Joint Ventures
IFRIC 23 Uncertainty over Income Tax Treatments
Amendments to IFRS 9: Prepayment Features with Negative Compensation
IFRS 16 Leases
With the exception of IFRS 16 – as further disclosed in Note 3 of the consolidated financial statements in this report – their adoption has not had any material impact on the disclosures or on the amounts reported in these financial statements.
New and revised IFRS Standards in issue but not yet effective
At the date of authorization of these financial statements, Vesteda has not applied the following new and revised IFRS Standards that have been issued but are not yet effective and [in some cases] had not yet been adopted by the EU.
Amendments to IFRS 9, IAS 39 and IFRS17: Interest Rate Benchmark Reform
Amendments to IAS 1 and IAS 8: Definition of Material
Amendments to References to the Conceptual Framework in IFRS Standards
IFRS 17 Insurance Contracts [not yet adopted by EU]
Amendments to IFRS 3 Business Combinations [not yet adopted by EU]
Amendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current [not yet adopted by EU]
Vesteda does not expect that the adoption of the Standards listed above will have a material impact on the financial statements of the Group in future periods.