Note 13 Update on accounting standards
13.1 Standards, amendments and interpretations

The following standards, amendments and interpretations adopted by the European Union became effective on January 1, 2021 under the Interest Rate Benchmark Reform:

  • amendments to IAS 37 – Onerous Contracts – Cost of Fulfilling a Contract;
  • amendments to IAS 16 – Property, Plant and Equipment – Proceeds before Intended Use;
  • amendment to IAS 39 – Financial Instruments: Recognition and Measurement;
  • amendments to IFRS 3 – Reference to the Conceptual Framework;
  • amendment to IFRS 4 – Insurance Contracts;
  • amendment to IFRS 7 – Financial Instruments: Disclosures;
  • amendment to IFRS 9 – Financial Instruments;
  • amendment to IFRS 16 – Leases;
  • amendments to IFRS 16 – Covid-19-Related Rent Concessions beyond 30 June 2021.

These amendments are effective for annual reporting periods beginning on or after January 1, 2021.

Their application had no material impact on the periods presented.

In addition, in its April 2021 decision, IFRIC clarified what periods of service certain benefits should be allocated to under defined-benefit plans. The impact of this decision is not material for Edenred and has been recognized in equity for 2021.

Lastly, in its March 2021 decision, IFRIC clarified how to account for costs of configuring or customizing a supplier’s application software in a Software as a Service (SaaS) arrangement. According to IFRIC, some of these costs should be recognized as an expense and not as an intangible asset. Edenred has begun a review of application software used in an SaaS arrangement for which costs have been recognized as an intangible asset. Given the practical difficulty of identifying the portion of these costs relating to software configuration and customization, the IFRIC decision has not been applied in the consolidated financial statements for the year ended December 31, 2021.


13.2 Standards, amendments and interpretations optional for reporting periods beginning on or after January 1, 2021er janvier 2021

Standards, amendments and interpretations published by the IASB but not yet adopted by the European Union:

The following standards, amendments and interpretations published by the IASB have not yet been adopted by the European Union:

  • amendments to IAS 1 – Classification of Liabilities as Current or Non-current and Disclosure of Accounting Policies;
  • IFRS 17 – Insurance Contracts;
  • amendments to IFRS 17.

The Edenred group chose not to early adopt these standards, amendments and interpretations at January 1, 2021.