IAS 19 'Employee benefits'

BP plc Monitor

BP plc Annual Report 2013
CR Monitor Issue: 
2014/1011
Company covered: 
BP plc
Period End: 
31 December 2013
Report issued on 21 October 2014 covered the following practice issues:
Change
Provision for oil spill analysed by type of claim and cumulative figures published.
Pronouncements
Several jointly controlled entities accounted for as joint arrangements under new rules.
Pronouncements
Revised rules on pension interest decrease profit before tax by 3.2%.
Change
Gain on disposal of operation contributes 42% of profit for year and impacts segmental structure.
Change
Format of directors' remuneration report adapts to new UK rules.

Halma plc Monitor

Halma plc Annual Report 2014
CR Monitor Issue: 
2014/1010
Company covered: 
Halma plc
Period End: 
29 March 2014
Report issued on 21 October 2014 covered the following practice issues:
Inconsistent
Assumptions used to determine value in use of cash generating units disclosed, highlighting prior year non-compliance.
Change
Curtailment gains on defined benefit pension plans contribute 2.8% of profit before tax.
Change
Charts used to indicate audit coverage in external auditor's report.
Pronouncements
Strategic report included in management commentary.
Change
Contingent purchase consideration reclassified from trade and other payable to provisions.

QinetiQ Group plc Monitor

QinetiQ Group plc  Annual Report 2014
CR Monitor Issue: 
2014/1007
Company covered: 
QinetiQ Group plc
Period End: 
31 March 2014
Report issued on 14 October 2014 covered the following practice issues:
Change
Decision to sell business leads to change in valuation method and impairment, but not to classification as held for sale.
Change
Impact of use of UK gilts based discount rate on triennial funding valuation indicated, without quantification.
Pronouncements
Strategic report replaces business review in management commentary.

GAM Holding AG Monitor

GAM Holding AG Annual Report 2013
CR Monitor Issue: 
2014/1001
Company covered: 
GAM Holding AG
Period End: 
31 December 2013
Report issued on 07 October 2014 covered the following practice issues:
Pronouncements
Change in scope of consolidation affects treatment of underlying investment gain.
Pronouncements
Introduction of disclosure on structured entities.
Pronouncements
Revised pension rules reduce comparative equity by 2.6%.
Change
Investment in associate written down in year of acquisition.
Change
Changes in operational model lead to reporting of all activities as a single segment.

Severn Trent Plc Monitor

Severn Trent Plc Annual Report 2014
CR Monitor Issue: 
2014/0915
Company covered: 
Severn Trent Plc
Period End: 
31 March 2014
Report issued on 30 September 2014 covered the following practice issues:
Pronouncements
Fair value of borrowings decreases by 3.4% in light of new rules.
Pronouncements
Fair value of derivative liabilities increases under new valuation rules.
Change
Post tax discount rate used in goodwill impairment test disclosed.
Pronouncements
Revised pension rules decrease profit before tax by 6.7%.
Change
Strategic report introduced under new UK regulations.

Electrocomponents plc Monitor

Electrocomponents plc Annual Report 2014
CR Monitor Issue: 
2014/0914
Company covered: 
Electrocomponents plc
Period End: 
31 March 2014
Report issued on 30 September 2014 covered the following practice issues:
Divergence
Disclosure on cash pooling offset arrangements does not agree to balance sheet.
Pronouncements
Mitigation of pension risks disclosed.

ITV plc Monitor

ITV plc Annual Report 2013
CR Monitor Issue: 
2014/0908
Company covered: 
ITV plc
Period End: 
31 December 2013
Report issued on 16 September 2014 covered the following practice issues:
Change
Change in valuation method for longevity swap.
Pronouncements
Changes made to pension interest charge and administration cost classification.
Pronouncements
External auditor extends the format of audit report.
Pronouncements
Company changes the format of directors' remuneration report.
Divergence
Tabular summary of consideration for acquisitions included in management commentary.

Marston’s PLC Interims Monitor

Interim Financial Report
CR Interim Monitor Issue: 
2014/0906
Period End: 
05 April 2014
Listing Status: 
FTSE Mid 250
ICB Industry Classification: 
5757 Restaurants & Bars
Auditor: 
PricewaterhouseCoopers
Pronouncements
Disclosures on financial instruments at fair value introduced.
Pronouncements
Total assets and liabilities for operating segments disclosed.
Change
Bank facility drawdown leads to recognition of restricted cash and other borrowings.
Change
Costs of property disposal and termination of hedge classed as non-underlying items.

BASF SE Monitor

BASF SE Annual Report 2013
CR Monitor Issue: 
2014/0903
Company covered: 
BASF SE
Period End: 
31 December 2013
Report issued on 09 September 2014 covered the following practice issues:
Pronouncements
Changes in scope of consolidation reduce opening comparative equity and total assets.
Pronouncements
Move to equity accounting for joint ventures and recognition of proportional shares for joint arrangements.
Pronouncements
Net interest rule for pensions charge reduces profit.
Pronouncements
Offsetting table for financial instruments presented.

Employment termination benefits: An emerging issue under IFRS

This report covers the accounting treatment of termination benefits in light of additional guidance given by a revised version of IAS 19 “Employee benefits”. It considers changes in classification and recognition of amounts linked to termination benefits and disclosure of the financial impacts arising from related changes in policy.