IFRS 9

And then let me pick up two topics before we come to closure.

First of all, we granted permission to publish the request for information on our PIR of IFRS 9 hedge accounting.

Now, that was a very long sentence.

Let me put this simply.

PIR, post-implementation review, this is an exercise that we do after a standard has been implemented to see whether the objective that the board set at the time has really met, whether the standard is achieving what it needed to achieve, whether the costs are as expected and the benefits are as expected.

So this is a very important exercise for us, and this is where we hear from our stakeholders.

So IFRS 9 hedge accounting has been implemented for a while now, and we are issuing our request for information, I think by the end of this month, with a 120-day comment period.

And we really are interested to hear from you.

The second one was about estimating residual value under the property, plants and equipment standard, IAS 16.

And then the third one was about the sale of equity investments that are measured at fair value through other comprehensive income under the financial instrument standard, IFRS 9.

And then there was one returning item, which was about the reassessment of control under the consolidation standard, IFRS 10, which came back to the committee after a comment period.

Okay, so let's start off with the IFRS 18 item, which, as you said, took up a lot of time.

Thank you so much, Gary.

So I think we can then move on to our third item.

And this was an IFRS 9 question.

And it was about whether an entity that elects to measure an investment in an equity instrument at fair value to other comprehensive income, what it does with respect to its changes in OCI.

So in terms of business case, I think we've proven it.

And we find a lot of work like the regulatory type work, like for IFRS 9, I guess, which is the equivalent of IFRS 17 from the insurer to the banking side.

A lot of that is done by actuaries.

Some of the work from the Far East and the UK is actually outsourced to the big four within South Africa and some of the other consulting firms.