Page 54 - 2023 CPC Corporation,Taiwan

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Financial Statements
The Company is evaluating the impact of its initial adoption of the abovementioned standards or

disclosed when the Company completes its evaluation.
The Company does not expect the following other new and amended standards, which have yet to be

• Amendments to IFRS 10 and IAS 28 “Sale or Contribution of Assets Between an Investor and Its Associate or Joint Venture”.
• IFRS 17 “ Insurance Contracts” and amendments to IFRS 17 “Insurance Contracts”
• Amendments to IFRS 17 “Initial Application of IFRS 17 and IFRS 9 – Comparative Information”
• IFRS 16 “Requirements for Sale and Leaseback Transactions”

The Company is operated and managed by the Government of the Republic of China (ROC). The Company’s significant accounting policies conform to the accounting laws and regulations governing state-owned enterprises, the Regulations Governing the Preparation of Financial Reports by Securities Issuers (the “Regulations”) and with the International Financial Reporting Standards (“IFRSs”), International Accounting Standards (“IASs”), as well as related guidance endorsed by the Financial Supervisory Commission of the Republic of China.
The Company’s annual financial statements are required to be examined by the Executive Yuan and the Ministry of Audit of the Control Yuan. The examinations are primarily aimed at determining the extent to which the Company meets its budget as approved by the Legislative Yuan. The Company’s financial should be reflected in the financial statements audited by independent certified public accountants. The opening balance of the following year of the Company’s books of accounts is based on the balance after and for the year ended December 31, 2021 had already been completed, as explained in Note 12(b). The these government agencies were not yet completed as of the auditor’s report date.
(a) Statement of compliance

governing state-owned enterprises, the Regulations and the IFRSs as endorsed and issued into effect by the FSC.
(b) Basis of preparation
(i) Basis of measurement
Except for the following significant accounts, the financial statements have been prepared on a historical cost basis:

Fair value through other comprehensive income are measured at fair value;

(ii) Functional and presentation currency
The functional currency is determined based on the primary economic environment in which the entity operates. The financial statements are presented in New Taiwan dollars, which is the Company’s nearest thousand.

noncurrent.
(i) It is expected to be realized, or intended to be sold or consumed, in the normal operating cycle; (ii) It is held primarily for the purpose of trading;
(iii) It is expected to be realized within twelve months after the reporting period; or