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Escher Group Holdings plc
Annual report 2011
55
Financial statements
Corporate governance
Business review
Overview
28. Recent accounting pronouncements
continued
Certain new standards, amendments and interpretations to existing standards have been published that are mandatory for the
Group’s accounting periods beginning on or after 1 January 2012 or later periods but which the Group has not early adopted,
as follows:
Amendment to IFRS 7, Financial Instruments: Derecognition
(effective for annual periods on or after 1 July 2011);
Amendment to IAS 12 ‘Income taxes’ Recovery of underlying assets
(effective for annual periods on or after 1 January 2012);
IAS 1, ‘Financial statement presentation’,
on other comprehensive income (effective for annual periods on or after 1 July 2012);
IAS 19 ‘Employee Benefits’
(effective for annual periods on or after 1 January 2013);
IAS 27 (revised), ‘Separate Financial Statements’,
(effective for annual periods on or after 1 January 2013);
IAS 28 (revised), ‘Investments in associates and joint ventures’,
(effective for annual periods on or after 1 January 2013);
IFRS 9 ‘Financial instruments
(effective for annual periods on or after 1 January 2013);
IFRS 10, ‘Consolidated Financial Statements’,
(effective for annual periods on or after 1 January 2013);
IFRS 11, ‘Joint Arrangements’,
(effective for annual periods on or after 1 January 2013);
IFRS 12,’Disclosure of interests in other entities’,
(effective for annual periods on or after 1 January 2013); and
IFRS 13, ‘Fair Value measurement’,
(effective for annual periods on or after 1 January 2013).
None of these new standards, amendments and interpretations are expected to have a material impact on the Group.
29. Approval of financial statements
These Group and parent company financial statements were authorised for issue by the Board of Directors on 12 April 2012.