Genius Group Limited Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

RECENT ACCOUNTING PRONOUNCEMENTS

RECENT ACCOUNTING PRONOUNCEMENTS

12 Months Ended

Dec. 31, 2023

NOTE 3 — RECENT ACCOUNTING PRONOUNCEMENTS

RECENT ACCOUNTING STANDARDS

*Recently Adopted Accounting Standards*		*Effective for periods beginning on or after*

Amendments to IAS 1 Disclosure of Accounting Policies		January 1, 2023
Amendments to IFRS 17 Insurance Contracts		January 1, 2023
Amendments to IAS 8 Definition of Accounting Estimates		January 1, 2023
Amendments to IAS 12 Income Taxes		January 1, 2023

The Company’s adoption of the standards above had no material impact on the consolidated financial statements in the year of initial application.

*Recent Accounting Standards Not Yet Adopted*		*Effective for periods beginning on or after*

IFRS S1 General Requirements for Disclosure of Sustainability-related Financial Information		January 1, 2024
IFRS S2 Climate-related Disclosures		January 1, 2024
Amendments to IFRS 16 Lease Liability in a Sale and Leaseback		January 1, 2024
Amendments to IAS 1 Non-current Liabilities with Covenants		January 1, 2024
Amendments to IAS 7 and IFRS 7 Supplier Finance Arrangements		January 1, 2024
Amendments to IAS 21 Lack of Exchangeability		January 1, 2025

The Company expects that the adoption of the standards above will have no material impact on the consolidated financial statements in the year of initial application.