Updating of Existing Accounting Policies
Grupo de Inversiones Suramericana S.A. hereby announces that its Board of Directors gave its approval to updating the Company's accounting policies with regard to its financial instruments, this in order to incorporate the amendment made to IFRS 9 - Financial Instruments, as issued by the Board of International Accounting Standards (IASB), that was duly adopted in Colombia by means of Decree 2496 of 2015 that was later amended by Decree 2131 of 2016. This update shall incorporate Stages II and III of the aforementioned IFRS, which relate to impairment and hedge accounting respectively.
This change to our accounting policies shall take effect as of January 1, 2018.