61 2. Summary of significant accounting policies continued IFRS 13 Fair Value Measurement  Investment Entities (Amendments to IFRS 10, IFRS 12 and IAS 27)  IAS 1 Presentation of Financial Statements  IAS 12 Income taxes  The amendments to IAS 12 Income Taxes were issued in December 2010 and are effective for annual periods beginning on or after 1 January 2012,  however the amendment was adopted by the EU for periods beginning on 1 January 2013. IAS 12 requires an entity to measure the deferred tax  relating to an asset depending on whether the entity expects to recover the carrying amount of the asset through use or sale. It can be difficult and  subjective to assess whether recovery will be through use or through sale when the asset is measured using the fair value model in IAS 40 Investment  Property. The amendment provides a practical solution to the problem by introducing a presumption that recovery of the carrying amount will normally  be through sale. As a result of the amendments, SIC-21 Income Taxes—Recovery of Revalued Non-Depreciable Assets would no longer apply to  investment properties carried at fair value. The amendments also incorporate into IAS 12 the remaining guidance previously contained in SIC-21, which  is accordingly withdrawn. The Group does not expect a material effect on its financial statements resulting from this amendment.  The amendments to IAS 1 were issued in June 2011 and are effective for annual periods beginning on or after 1 July 2012. The amendments require  companies preparing financial statements in accordance with IFRSs to group together items within Other Comprehensive Income (“OCI”) that may be  reclassified to the profit or loss section of the income statement. The amendments also reaffirm existing requirements that items in OCI and profit or loss  should be presented as either a single statement or two consecutive statements. The amendment will primarily result in a grouping of OCI items. All OCI  items presented by the Group are reclassifiable. The new IFRS 13 was issued in May 2011 and is effective for periods beginning on or after 1 January 2013. The requirements of IFRS 13 do not extend  the use of fair value accounting, but provide guidance on how it should be applied where its use is already required or permitted by other standards  within IFRSs. Beside additional disclosures, the Group does not expect a material effect on its financial statements resulting from this amendment.  The amendments made to the standards were issued in October 2012 and apply to a particular class of business that qualify as “Investment Entities”. The  amendments are effective for annual periods beginning on or after 1 January 2014. Investment Entities amendments provide an exception to the  consolidation requirements in IFRS 10 and require investment entities to measure particular subsidiaries at fair value through profit or loss, rather than  consolidate them. The amendments also set out disclosure requirements for investment entities as Dialog does not qualify as a “Investment Entity”, Dialog  does not expect a material effect on its financial statements resulting from this amendments. The amended standards have not yet been endorsed by the  EU.  IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements, IFRS 12 Disclosures of Interests in Other Entities, IAS 27 (revised)  Separate Financial Statements, IAS 28 (revised) Investments in Associates and Joint Ventures  The IASB completed in May 2011 its improvements to the accounting requirements for off balance sheet activities and joint arrangements by issuing  IFRS 10 Consolidated Financial Statements, IFRS 11 Joint Arrangements and IFRS 12 Disclosure of Interests in Other Entities (amended in June 2012 in  order to clarify the transition guidance in IFRS 10 and to provide additional transition relief in IFRS 10, IFRS 11 and IFRS 12). The new and revised  standards are effective for periods beginning on 1 January 2013, however the Standards were adopted by the EU for periods beginning on 1 January  2014, at the latest (the transition guidance has not yet been adopted by the EU).   IFRS 10 builds on existing principles by identifying the concept of control as the determining factor in whether an entity should be included within  the consolidated financial statements of the parent company. The standard provides additional guidance to assist in the determination of control  where this is difficult to assess.   IFRS 11 provides for a more realistic reflection of joint arrangements by focusing on the rights and obligations of the arrangement, rather than its  legal form (as is currently the case). The standard addresses inconsistencies in the reporting of joint arrangements by requiring a single method to  account for interests in jointly controlled entities.   IFRS 12 is a new and comprehensive standard on disclosure requirements for all forms of interests in other entities, including joint arrangements,  associates, special purpose vehicles and other off balance sheet vehicles.   IAS 27 (revised) now includes the provisions on separate financial statements that are left after the control provisions of IAS 27 have been included  in the new IFRS 10.   IAS 28 (revised) now includes the requirements for joint ventures, as well as associates, to be equity accounted following the issue of IFRS 11.  The Group expects additional disclosures from this new standard.  The Group does not expect a material effect on its financial statements resulting from this new standard, as the Group is not engaged in joint  arrangements. The Group does not expect a material effect on its financial statements resulting from this new standard. 