1.3 Impact of new and amended standards and interpretations

in PLN millions, unless otherwise stated

The International Accounting Standards Board approved the following amendments to standards for use from 1 January 2020:

• Amendments to IAS 1 and IAS 8 on the definition of “material”,
• Amendments to IFRS 9, IAS 39 and IFRS 7 on the interest rate benchmark reform,
• Amendments to IFRS 3 on  the definition of a business,
• Amendments to References to the Conceptual Framework in IFRS.

Up to the date of publication of these financial statements, the aforementioned amendments to the standards were adopted for use by the European Union and they did not have an impact on the Group’s accounting policy or on the consolidated financial statements for 2020.

Moreover, the Group decided for an earlier application of an amendment to IFRS 16 on Covid-19-Related Rent Concessions, which is in force for financial years starting from or after 1 June 2020.