3.3 Changes in method of preparation of the consolidated financial statements in comparison to previous year

In 2013, the following change was made to the method of preparation of the consolidated financial statements compared to the financial statements of the PZU Group for 2012:

  • at the beginning of 2013, the Group changed the presentation method applied to segment reporting note, drawn up in accordance with IFRS 8. The method for aggregation of financial data to segments, described in section 5 includes consolidation of subsidiaries (companies and investment funds) which were not previously consolidated, and application of measurement of associates using the equity method, described in detail in section 3.4.1;
  • with a view to presenting provisions for employee benefits as one item of the statement of financial position, liabilities due to unused annual leave, as referred to in Section 3.19.4, have been transferred from accrued expenses to “Provisions for employee benefits”.