RTIA Annual Report E-Book

Road Traffic Infringement Agency Annual Financial Statements for the year ended 31 March 2024 __________________________________________________________________________________________________________________________________________________________ Notes to the Annual Financial Statements Figures in Rand Note(s) 2024 2023 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:

Expected impact:

Years beginning on or after

• GRAP 21: The Effect of Past Decisions on Materiality

01 April 2023

The impact of the is not material. The impact of the is not material. The impact of the is not material. The impact of the is not material. The impact of the is not material. The impact of the is not material.

• GRAP 25 (as revised): Employee Benefits

01 April 2023

• GRAP 7 (as revised): Limit on defined benefit asset, minimum funding requirements and their interaction

01 April 2023

• GRAP 2020: Improvements to the Standards of GRAP 2020

01 April 2023

• Guideline: Guideline on Accounting for Landfill Sites

01 April 2023

• GRAP 1 (amended): Presentation of Financial Statements (Materiality)

01 April 2024

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Road Traffic Infringement Agency • Annual Report 2023/24