EFTA Document EFTA01367266

Amendment ::4 Page 837 of 868 3.3 Basis of valuation and presentation currency The fnancial statements as of December 31. 2014 and 2013 were prepared one tntoncal coat tows except for certain items amt are measured in accordance with the accounting coves described in Note 4 The finannal statements are expressed in US dollars (U55 or 3) 3.4 Changes In accounting policies The accounting policies adopted by the Company to prepare its financial statements as of December 31, 2014 are consistent with those used to prepare its financial statement as of Decenter 31 2013 The Company adopted for the fat time the following amendments to slanclards and inierfacetabons, winch are effective for arnual penal; Corning on or after Jantory 1 2014 These amendments and intemietabons had no maternal impact on the Company's financial statement as of December 31. 2014 laves:meek Entrees (Amerdmerf s to IFRS I0 IFRS 12 and IAS 27) These amendments provide an exception to the consobilabon requrement for mines that meet the definition of an irwestrnent entity wider IFRS 10 Cereoormea Rosner.' Starements and must be applied rebosµctrtety. subject to certain transition rebel The exception to coreolciaton regimes irwestment entities to accost for subsidiaries at fair value through profit or loss Offsetting Falcon, Assets and Finance! Lebnies-Amendment to IAS 32 These amerximents clarify me meaning of 'currentfir has a Wigan/ egaceable eV to setoff' and the cntena for non-ssmultsreous setternent rrechanisins cl clearing houses to qualify for offsetting and is owied MI tOSPeCI welt/ Novato, or Denvatives and Cal:sst.:se et !Sedge ACCOUtStag-Amenarnents N IAS 39 Trete amendments provide relief from dscianbnung hedge aocounteg *fen novation of a denvat we des-grated as a hedgng instrument meets certain criteria and retrospective application is required !FRIG 2I Levies FRIC 21 carries that an entity recognizes a latesty for a levy when the activity that triggers payment as identified by the relevant legislation occurs For a levy Mat is triggered upon leaching a mirwnum threshold. the interprelaicn clarifies Mal no liablity should be anticipated before the specified mnirnxn threshold is reached Retrospective application 6 required for IFRIC 21 Recoveraae Amount aSOV,SureiS for Nom F mamas, Asset s-Ameniments to /AS 36 Imparinent of Assets These amerwanents remove the unntended consequences of IFRS 13 on the discOsures required under IAS 36 In additton these amendmerts require declass° of the recoverable *masts la tie assets or cash generating ants for which impairment loss has been recognzed or reversed aurirg the period Annual Improvements 2010-2012 Cycie in the 2010.2012 annual inprovernertS cycle. the IASE3 issued seven amendments to six standards. whch preluded an amendment to IFRS 13 Fair Value Meastrernent The amendment to IFRS 13 is effect...* immediate,/ and thus for penods beginning at January 1, 2014, and 4 Mertes in the Basis for Conclusions that srtrt.term receivables and payables with no stated interest rates can be measured at invoice amounts when tie effect of decourting is menaterial F.517 http://cfdocs.btogo.com:27638/cf/drv7/pub/edgar/2015/07/20/0001193125-15-256461/d78... 7/20/2015 CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0058794 CONFIDENTIAL SDNY_GM_00204978 EFTA01367266