CIPC Annual Report V1

Companies and Intellectual Property Commission Annual Financial Statements for the year ended 31 March 2021 Notes to the Annual Financial Statements

2021

2020

R '000

R '000

2.

New standards and interpretations

2.1 Standards and interpretations effective and adopted in the current year

In the current year, the entity has adopted the following standards and interpretations that are effective for the current financial year and that are relevant to its operations:

Standard/ Interpretation:

Effective date: Years beginning on or after

Expected impact:

 

GRAP 104 (amended): Financial Instruments IGRAP 20: Accounting for Adjustments to Revenue

01 April 2020 01 April 2020

No material impact No material impact No material impact

 GRAP 1 (amended): Presentation of Financial Statements 01 April 2020

19

COMPANIES AND INTELLECTUAL PROPERTY COMMISSION I Annual Report 2020/21

89