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The Financial and Sustainability Reporting Standards Council (FSRSC) has approved the adoption of Amendments to: PAS 1, Classification of Liabilities as Current or Non-current; PAS 8, Definition of Accounting Estimates; PAS 1 and PFRS Practice Statement 2, Disclosure Initiative – Accounting Policies; and PAS 12, “Deferred tax related to assets and liabilities arising from a single transaction” issued by the International Accounting Standards Board (IASB). These amendments are effective for annual reporting periods beginning on or after January 1, 2023.

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