Changes in significant accounting policies as well as new and amended standards
With the exception of the following changes, the outlined accounting policies were consistently applied to all periods presented in these consolidated financial statements.
Amendments to be applied for the first time
The Group applied the following amendments to standards with the initial application date of 1 January 2024. None of the new regulations arising from this have a significant impact on UNIQA’s assets, liabilities, financial position and profit or loss.
Amendments to be applied for the first time |
First-time application by UNIQA |
|
|---|---|---|
IAS 1 |
Amendments to IAS 1 Presentation of Financial Statements: Classification of Liabilities as Current or Non-current |
1 January 2024 |
IFRS 16 |
Amendments to IFRS 16 Leases: Lease Liability in a Sale and Leaseback |
1 January 2024 |
IAS 7, IFRS 7 |
Amendments to IAS 7 Statement of Cash Flows and IFRS 7 Financial Instruments: Disclosures: Supplier Finance Arrangements |
1 January 2024 |
New and amended standards to be applied in the future
The IASB has also published a range of new standards that will be applicable in the future. UNIQA does not intend to adopt these standards early. From today’s point of view, no material impacts are expected on the Group’s assets, liabilities, financial position and profit or loss. The impacts of the new IFRS 18 standard are being analysed.
|
Content |
First-time application by UNIQA |
Endorsement by the EU |
|
|---|---|---|---|---|
New standards |
||||
IFRS 18 |
|
Presentation and information in the financial statements |
1 January 2027 |
No |
IFRS 19 |
|
Subsidiaries without public accountability: Disclosures |
n/a |
No |
Amended standards |
||||
IAS 21 |
|
Amendment to IAS 21 The Effects of Changes in Foreign Exchange Rates: Lack of Exchangeability |
1 January 2025 |
Yes |
IFRS 9, IFRS 7 |
|
Changes to the classification and measurement of financial instruments |
1 January 2026 |
No |
IFRS 9, IFRS 7 |
|
Amendments in contracts for nature-dependent electricity |
1 January 2026 |
No |
IFRS 1, IFRS 7, IFRS 9, IFRS 10, IAS 7 |
Annual improvements –11th edition |
1 January 2026 |
No |
|