AmazonScience/document-haystack

1beginning on or after 1 January 2024 with early adoption permitted. The amendment is not 2expected to have a material impact on the Group’s consolidated financial statements. These 3amendments were endorsed by the EU on 21 November 2023.4Supplier Finance Arrangements (amendments to IAS 7 “Statements of 5Cash Flows” and IFRS 7 “Financial instruments: disclosures”) 6On 25 May 2023, the IASB issued the amendment to IAS 7 “Statement of Cash Flows” and 7IFRS 7 “Financial instruments: disclosures” regarding the disclosure of supplier finance 8arrangements that have all of the following characteristics9– A finance provider pays amounts a company (the buyer) owes its suppliers.10– A company agrees to pay under the terms and conditions of the arrangements on the same 11date or at a later date than its suppliers are paid.12– The company is provided with extended payment terms or suppliers benefit from early 13payment terms, compared with the related invoice payment due date. 14The amendments introduce qualitative information like terms and conditions and quantitative 15information like carrying amount of financial liabilities as well as type and effect of non-cash 16changes in the carrying amounts of the financial liabilities and range of payment due dates. 17The amendments will be effective for annual periods beginning on or after 1 January 2024 18with early adoption permitted.The amendment is not expected to have a material impact on 19the Group’s consolidated financial statements. These amendments have yet to be endorsed 20by the EU.21Lack of Exchangeability (amendments to IAS 21 “The effects of 22changes in foreign exchange rates”)23In August 2023 the IASB amended IAS 21 “The effects of changes in foreign exchange rates” 24to clarify when a currency is exchangeable into another currency and how a company 25estimates a spot rate when a currency lacks exchangeability.The amendments will be 26effective for annual periods beginning on or after 1 January 2025 with early adoption 27permitted. The Group will participate in Deutsche Bank AG’s impact assessment in 2024 but 28expect no material impact on the Group’s consolidated financial statements. These 29amendments have yet to be endorsed by the EU.3004 – Acquisitions and Dispositions31In the period 1 January 2023 to 31 December 2023 there were no acquisitions accounted for 32as business combinations.33On 30 January 2023, the transfer of the Private Equity Solutions business to Brookfield Asset 34Management was completed. The transaction included the transfer of the fund management 35team and the Private Equity Solutions I fund. The Group will remain an investor in Private 36Equity Solutions I.3705 – Business Segment and Related Information38The Group operates a single business segment for reporting and controlling purposes. The 39Executive Board will be responsible as chief operating decision maker and segment manager 40for the business strategy as well as for reviewing and monitoring the results of the Group 41including strategy, planning, major personnel decisions, organisation, risk management and 42compliance systems.43The Group’s operating activity is managed using one globally integrated investment group 44targeting the same client segments, distribution channels and asset classes. The Group’s 45product offerings are distributed globally through a single global distribution network 46servicing all products and negotiating prices with clients. In addition, the Group is using 47largely shared infrastructure (such as marketing, product strategy, product development and 48finance).49         50To our 51Shareholders52Summarised 53Management Report54Consolidated 55Financial Statements Compensation Report Corporate Govern-56ance Statement57Supplementary 58Information DWS 2023 Annual Report59 60Notes to the Consolidated Financial Statements6188 04 – Acquisitions and Dispositions