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44GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIESNOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 20152. Signifcant accounting policies (continued)iv) Changes in accounting policies and disclosures (continued)New and amended standards and interpretations not affecting amounts reported and/or disclosures in the consolidated fnancial statements (continued)Amendments to IAS 19 %u2013 Defned Beneft Plans: Employee Contributions %u2013 Effective 1 July 2014These amendments require consideration of contributions from employees or third parties when accounting for defned beneft plans. IAS 19 requires such contributions that are linked to service to be attributed to periods of service as a negative beneft. The amendments clarify that, if the amount of the contributions is independent of the number of years of service, recognition of such contributions as a reduction in the service cost in the period in which the service is rendered is permitted, instead of allocating the contributions to the periods of service. These amendments had no impact on the Group%u2019s consolidated fnancial statements.Annual Improvements to IFRSs 2010-2012 Cycle %u2013 Published December 2013Certain limited amendments, which primarily consist of clarifcations to existing guidance, were made to the following standards:%u2022 IFRS 2, %u2018Share-based Payment%u2019%u2022 IFRS 3, %u2018Business Combinations%u2019%u2022 IFRS 8, %u2018Operating Segments%u2019%u2022 IFRS 13, %u2018Fair Value Measurement%u2019%u2022 IAS 16, %u2018Property, Plant and Equipment%u2019%u2022 IAS 24, %u2018Related Party Disclosures%u2019%u2022 IAS 38, %u2018Intangible Assets%u2019These improvements were effective for annual periods beginning on or after 1 July 2014 and had no impact on the consolidated fnancial statements.(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)