Pensions

Colt Group S.A. Monitor

Colt Group S.A. Annual Report 2013
CR Monitor Issue: 
2014/0714
Company covered: 
Colt Group S.A.
Period End: 
31 December 2013
Report issued on 25 July 2014 covered the following practice issues:
Divergence
Finance income cash flows reclassified from financing to investing activities, without explanation.
Pronouncements
New pension rules reduce profit.
Change
Voluntary adoption of UK format for directors' remuneration report.

Senior plc Monitor

Senior plc Annual Report 2013
CR Monitor Issue: 
2014/0713
Company covered: 
Senior plc
Period End: 
31 December 2013
Report issued on 25 July 2014 covered the following practice issues:
Divergence
Disclosure of quoted and unquoted pension plan assets without quantification.
Change
Charts used to indicate audit coverage in external auditor's report
Pronouncements
Directors' remuneration follows new UK format.

Beiersdorf Aktiengesellschaft Monitor

Beiersdorf Aktiengesellschaft Annual Report 2013
CR Monitor Issue: 
2014/0710
Company covered: 
Beiersdorf Aktiengesellschaft
Period End: 
31 December 2013
Report issued on 21 July 2014 covered the following practice issues:
Pronouncements
End of corridor method for pensions reduces comparative equity by 4.4%.
Pronouncements
Additional fair value disclosures for financial instruments.

Anheuser-Busch Inbev NV/SA Monitor

Anheuser-Busch Inbev NV/SA 2013
CR Monitor Issue: 
2014/0709
Company covered: 
Anheuser-Busch Inbev NV/SA
Period End: 
31 December 2013
Report issued on 21 July 2014 covered the following practice issues:
Change
Fair value gain on business combination in stages increases profit before tax by 52.9%.
Pronouncements
Increased disclosures on pension risks and restatements under new pension rules.
Pronouncements
Offsetting disclosures made for financial assets and liabilities.

Bayer AG Monitor

Bayer AG Annual Report 2013
CR Monitor Issue: 
2014/0708
Company covered: 
Bayer AG
Period End: 
31 December 2013
Report issued on 15 July 2014 covered the following practice issues:
Pronouncements
Joint operation accounting replaces equity accounting, leading to adjustment through reserves.
Pronouncements
Joint ventures accounted for by equity method.
Pronouncements
Change to accounting for German pre-retirement agreements under new employee benefits regime.
Change
Cap in management remuneration under German corporate governance code disclosed.

Daimler AG Monitor

Daimler AG Annual Report 2013
CR Monitor Issue: 
2014/0705
Company covered: 
Daimler AG
Period End: 
31 December 2013
Report issued on 14 July 2014 covered the following practice issues:
Pronouncements
End of corridor method reduces comparative equity by 13.5%.
Restatement
Prior period error on obligations for part-time early retirement corrected.
Pronouncements
Compliance with international framework agreement for derivatives disclosed as offsetting table presented.
Pronouncements
Management remuneration restricted in light of impending corporate governance rules.

Henkel AG & Co. KGaA Monitor

Henkel AG & Co. KGaA Annual Report 2013
CR Monitor Issue: 
2014/0704
Company covered: 
Henkel AG & Co. KGaA
Period End: 
31 December 2013
Report issued on 08 July 2014 covered the following practice issues:
Pronouncements
New pension rules increase comparative net interest expense.
Pronouncements
Table of netting arrangements published for derivatives.
Pronouncements
Fair value hierarchy disclosures made for impairment tests.
Divergence
Disclosure of court ruling on disputed fine made in management commentary.

Swedbank AB Monitor

Swedbank AB Annual Report 2013
CR Monitor Issue: 
2014/0703
Company covered: 
Swedbank AB
Period End: 
31 December 2013
Report issued on 08 July 2014 covered the following practice issues:
Pronouncements
End of corridor method for pensions reduces comparative equity by 2.9%.
Pronouncements
Move from Swedish to specific IFRS rules on recognition of taxes on retirement benefits.
Change
Discontinued operation results presented geographically.
Divergence
Offsetting note has limited information on master netting arrangements and similar agreements.
Change
Impact of treatment of associates on capital ratios disclosed.

ArcelorMittal SA Monitor

ArcelorMittal SA Annual Report 2013
CR Monitor Issue: 
2014/0615
Company covered: 
ArcelorMittal SA
Period End: 
31 December 2013
Report issued on 24 June 2014 covered the following practice issues:
Pronouncements
Immediate recognition of actuarial movements on pensions reduces comparative equity by 8.7%.
Pronouncements
Extended disclosures on consolidated structure, including non-controlling interests.
Change
New operating lease arrangements through unconsolidated structured entities disclosed.
Pronouncements
Recognition of interest in joint operations replaces equity accounting.
Change
Disclosure of fair values with fair value hierarchy for corporate debt at amortised cost.