105 Westgold Resources Limited Annual Report 2024 37. ACCOUNTING STANDARDS New and amended standards and interpretations The Group has adopted all Accounting Standards and Interpretations effective from 1 July 2023. The accounting policies adopted are consistent with those of the previous financial year. Several new and amended Accounting Standards and Interpretations applied for the first time from 1 July 2023 but did not have a material impact on the consolidated financial statements of the Group and, hence, have not been disclosed. The standards and interpretations that have been issued or amended but not yet effective have not been early adopted by the Group for the annual reporting period ended 30 June 2024. The following Accounting Standards issued but not yet effective, are currently being assessed by Management. – AASB 18 Presentation and Disclosure in Financial Statements (Effective for annual reporting periods beginning on or after 1 January 2027) – IFRIC Agenda decisions in July 2024 – Disclosing revenue and expenses for reportable segments The following Accounting Standards issued but not yet effective, have been assessed with no significant impact to the Group. – AASB 2021-5 Amendments to AASs – Deferred Tax related to Assets and Liabilities arising from a Single Transaction (Effective for annual reporting periods beginning on or after 1 January 2023) – AASB 17 Insurance Contracts (Effective for annual reporting periods beginning on or after 1 January 2023) – AASB 2021-2 Amendments to AASB 108 – Definition of Accounting Estimates (Effective for annual reporting periods beginning on or after 1 January 2023) – AASB 2020-1 Amendments to AASs – Classification of Liabilities as Current or Non-current (Effective for annual reporting periods beginning on or after 1 January 2024)
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