Costs expensed following acquisition reduce profit by 63%
UK asset manager Aberdeen Asset Management recognises migration and transitional costs that reduce its pre-tax profit by 63%, but falls short of IFRS by not disclosing the nature of goodwill acquired, as a report criticises the level of disclosure on material acquisitions in the UK.

Board risk procedures reassessed
UK asset manager Aberdeen Asset Management discloses that it intends to set up a dedicated board committee to review and monitor all aspects of risk. This coincides with a recommendation to this effect in the Walker report for major financial institutions.
 

New goodwill impairment sensitivity analysis not fully in accordance of IFRS
UK catering company Compass publishes a goodwill impairment sensitivity analysis showing changes in assumptions that would eliminate headroom in the UK & Ireland cash-generating unit but, by not disclosing the amount of headroom, reduces its usefulness.