IBERSOL | Integrated Management Report 2022

Consolidated Financial Statements The adoption of the standards and amendments endorsed by the European Union and of mandatory application for annual periods beginning on or after 1 January 2022 did not result in significant impacts on the consolidated financial statements. The adoption of the new standards and interpretations already endorsed by the EU and of mandatory application on 1 January 2023, as well as of the new standards and interpretations not yet endorsed by the EU is not expected to have a material impact on the Group’s consolidated financial statements. 2.3. Relevant accounting estimates and judgments Estimates and judgments are continually evaluated and are based on historical ex- perience and other factors, including expectations about future events that are be- lieved to be reasonable under the circumstances. Estimates, assumptions and circumstances will, by definition, seldom match the ac- tual results reported. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are: Relevant estimates and judgements Notes Recoverability of goodwill 6.1. Recoverability of property, plant and equipment, intangible assets and rights of use 6.2. a 6.4. Determination of the price and capital gain of the Burger King business transaction 6.7. Lease term and incremental finance charge 8.3. Measurement of deferred tax assets 9.2.1 . The estimates and underlying assumptions were determined based on the best knowledge existing at the date of approval of the financial statements of the events and transactions in progress, as well as the experience of past and/or current events. However, situations may occur in subsequent periods that were not foreseeable at the date of approval of the financial statements and were not considered in these estimates. Changes to the estimates that occur after the date of these consolidated finan- cial statements, will be recognised in net income, in accordance with IAS 8, using a prospective methodology. For this reason and given the degree of uncertainty, the actual results of the transactions in question may differ from the corresponding estimates. 396