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

RECENT ACCOUNTING PRONOUNCEMENTS

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RECENT ACCOUNTING PRONOUNCEMENTS
12 Months Ended
Dec. 31, 2021
RECENT ACCOUNTING PRONOUNCEMENTS  
RECENT ACCOUNTING PRONOUNCEMENTS

NOTE 3 — RECENT ACCOUNTING PRONOUNCEMENTS

Recently Adopted Accounting Standards

Standard/Interpretation

Amendments to IFRS 9, IAS 39, IFRS 7, IFRS 4 and IFRS 16 Interest Rate Benchmark Reform – Phase 2 effective for periods beginning January 1, 2021 did not materially impact the Company’s consolidated financial statements.

Recent Accounting Standards Not Yet Adopted

Effective for periods

Standard/Interpretation

    

beginning on or after

Amendments to IFRS 3 Reference to the Conceptual Framework Relating to Business Combinations

January 1, 2022

Amendments to IAS 37 Onerous Contracts – Cost of Fulfilling a Contract

January 1, 2022

Annual Improvements to IFRS Standards 2018-2021

January 1, 2022

Amendments to IAS 16 Property, Plant and Equipment – Proceeds before Intended Use

January 1, 2022

Amendments to IAS 1 Classification of Liabilities as Current or Non-current

January 1, 2023

Amendments to IFRS 17 Insurance Contracts

January 1, 2023

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.