Bursa Malaysia • Annual Report 2013
98
Financial Reports
Notes to the Financial Statements
31 December 2013
2. Significant accounting policies (cont’d.)
2.2 Adoption of new and revised MFRSs and changes in accounting policies (cont’d.)
(a) Adoption of Standards, Amendments and IC Interpretations (cont’d.)
(ii) MFRS 12
Disclosures of Interests in Other Entities
MFRS 12
Disclosures of Interests in Other Entities
sets out the required disclosures for entities reporting under the new standard, MFRS 10
Consolidated Financial Statements
. It requires entities to disclose information that helps financial statement readers to evaluate the nature,
risks and financial effects associated with the entity’s interests in subsidiaries.
The adoption of this standard affects disclosures in the financial statements only and has no financial impact on the Group’s financial
statements.
(iii) Amendments to MFRS 101
Presentation of Items of Other Comprehensive Income
The amendments to MFRS 101
Presentation of Items of Other Comprehensive Income
change the grouping of items presented in other
comprehensive income. Items that could be reclassified to profit or loss at a future point in time (for example, exchange differences on
translation of foreign operations and net gains or losses on AFS financial assets) would be presented separately from items that will never be
reclassified (for example, actuarial gains and losses on defined benefit obligations).
The adoption of this amendment affects the presentation in the financial statements only and has no financial impact on the Group and the
Company’s financial statements.
(b) Change in accounting policy on fines
The Capital Market Education and Integrity Fund (CMEIF) was established on 1 January 2013 to strengthen the governance of fines utilisation.
Prior to its establishment, fines and related expenses were recognised in profit or loss. Following its establishment, fines and related expenses
were recorded as a liability and the change in accounting policy was applied retrospectively with effect from that date.
The financial impact on the Group and Company’s financial statements arising from the change in accounting policy is disclosed in Note 2.2(c).
