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146 KUMPULAN WANG PERSARAAN (DIPERBADANKAN) FoR BEttER REtURNS

notes to the
financial statements
for the year ended 31 december 2022

2. SIGNIFICANT ACCOUNTING POLICIES (CONTINUED)
2.2 Statement of Compliance

the accounting policies adopted by the group and of KWap are consistent with those adopted in the most
recent annual financial statements for the year ended 31 december 2021.

(a) Standards and amendments that were issued but not yet effective

the standards and interpretations that were issued but not yet effective up to the date of issuance of the
group’s and of KWap’s financial statements are disclosed below. the group and KWap intend to adopt
these standards, if applicable, when they become effective.

Effective for
annual periods
beginning on
or after
mfrs 17, Insurance Contracts 1 January 2023
amendments to mfrs 17, Insurance Contracts – Initial application of MFRS 17
and mfrs 9 – Comparative Information 1 January 2023
amendments to mfrs 101, Presentation of Financial Statements
– Disclosures of Accounting Policies 1 January 2023
amendments to mfrs 108, Accounting Policies, Changes in Accounting
Estimates and Errors – Definition of Accounting Estimates 1 January 2023
amendments to mfrs 112, Income Taxes – Deferred Tax related to
Assets and Liabilities arising from a Single Transaction and International
Tax Reform - Pillar Two Model Rules 1 January 2023
amendments to mfrs 16, Leases – Lease Liability in a Sale and Leaseback 1 January 2024
amendments to mfrs 101, Presentation of Financial Statements
– Non-current Liabilities with Covenants and Classification
of Liabilities as Current or Non-current 1 January 2024
amendments to mfrs 107, Statement of Cash Flows and mfrs 7,
Financial Instruments: Disclosures – Supplier Finance Arrangements 1 January 2024
amendments to mfrs 10, Consolidated Financial Statements and
mfrs 128, Investments in Associates and Joint Ventures
– Sale or Contribution of Assets between an Investor and
its Associate or Joint Venture to be confirmed

the initial application of the above-mentioned accounting standards, interpretations and amendments are
not expected to have any material financial impact to the financial statements of the group and of KWap.