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46GUARDIAN 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)Standards issued but not yet effective (continued)%u2022 Amendments to IAS 16 and IAS 38 %u2013 Clarifcation of Acceptable Methods of Depreciation and Amortisation %u2013 Effective 1 January 2016%u2022 Amendments to IAS 16 and IAS 41 %u2013 Agriculture: Bearer Plants %u2013 Effective 1 January 2016%u2022 Amendments to IAS 27 %u2013 Equity Method in Separate Financial Statements %u2013 Effective 1 January 2016%u2022 IFRS 15, %u2018Revenue from Contracts with Customers%u2019 %u2013 Effective 1 January 2018The Group is currently assessing the potential impact of these new standards and interpretations and will adopt them when they are effective.Annual Improvements to IFRSs 2012-2014 Cycle %u2013 Published September 2014Certain limited amendments, which primarily consist of clarifcations to existing guidance, were made to the following standards and are not expected to have a material impact on the consolidated fnancial statements:%u2022 IFRS 5, %u2018Non-current Assets Held for Sale and Discontinued Operations%u2019%u2022 IFRS 7, %u2018Financial Instruments: Disclosures%u2019%u2022 IAS 19, %u2018Employee Benefts%u2019%u2022 IAS 34, %u2018Interim Financial Reporting%u2019These improvements are effective for annual periods beginning on or after 1 January 2016 and will be adopted at that time.(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)