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2. Signifcant accounting policies (continued)iii) Changes in accounting policies and disclosures (continued)New and amended standards and interpretations (continued)Transitions disclosures (continued)The following table reconciles the aggregate opening provision for doubtful debts under IAS 39 to the ECL allowances under IFRS 9.Impairment allowance forProvision for Doubtful debt under IAS 39 at 31 December 2017 RemeasurementECLs underIFRS 9 at 1 January 2018Trade and other receivables 9,113 488 9,601 IFRIC 22 - Foreign Currency Transactions and Advance ConsiderationsThe Interpretation clarifes that, in determining the spot exchange rate to use on initial recognition of the related asset, expense or income (or part of it) on the derecognition of a non-monetary asset or non-monetary liability relating to advance consideration, the date of the transaction is the date on which an entity initially recognises the non-monetary asset or non-monetary liability arising from the advance consideration. If there are multiple payments or receipts in advance, then the entity must determine the date of the transactions for each payment or receipt of advance consideration. This Interpretation does not have any impact on the Group%u2019s consolidated fnancial statements.GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTSFOR THE YEAR ENDED 31 DECEMBER 2018(Expressed in Thousands of Trinidad and Tobago Dollars, except where otherwise stated)(Continued)46 GUARDIAN MEDIA LIMITED AND ITS SUBSIDIARIES ANNUAL REPORT 2018