IAS 28 'Investments in associates'

OMV AG Period End 31 December 2010

Submitted by Company Reporting on Fri, 2011-12-16 17:08
OMV AG Annual Report 2010
CR Monitor Issue: 
2011/1210
Company covered: 
OMV AG
Period End: 
31 December 2010
Report issued on 16 December 2011 covered the following practice issues:
Change
Gain on remeasurement of prior interest on combination, that increases pre-tax profit by 9.6%, included in net financial result.
Divergence
Belated disclosure of why 10% interest in associate gives significant influence
Change
Land leases reassessed as finance leases, but with little effect.
Change
Enhanced disaggregation of cash flows on acquisitions in note to cash flow statement.

Television Francaise 1 SA - TF1 Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-12-14 15:17
Television Francaise 1 SA - TF1 Annual Report 2010
CR Monitor Issue: 
2011/1204
Company covered: 
Television Francaise 1 SA - TF1
Period End: 
31 December 2010
Report issued on 14 December 2011 covered the following practice issues:
Change
Significant gains on remeasuring prior holdings on acquisitions.
Change
Equity accounting ended as call option ends significant influence.
Change
Transfers of businesses between segments follow changes of management intentions.
Divergence
Unexplained change to analysis of revenue.

Atlas Copco AB Period End 31 December 2010

Submitted by YWang on Wed, 2011-11-16 16:30
Atlas Copco AB Annual Report 2010
CR Monitor Issue: 
2011/1107
Company covered: 
Atlas Copco AB
Period End: 
31 December 2010
Report issued on 16 November 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Impairment disclosed separately in segmental information.
Change
Cash flows from purchase and sale of rental equipment reclassified from investing to operating, with the description of revenue recognition policy changed to include sale of rental equipment.
Change
Financial information about associates changed to show 100% rather than the company's share.
Change
Changes in reconciliation of movements in pension assets result in benefits paid no longer being equivalent to benefit paid in the reconciliation of movements in liabilities.
Change
Service contract no longer shown as a separate class of provisions.
Change
Separate disclosure of auditor's fees relating to tax services.

Orkla ASA Period End 31 December 2010

Submitted by Company Reporting on Mon, 2011-10-03 15:17
Orkla ASA Annual Report 2010
CR Monitor Issue: 
2011/1001
Company covered: 
Orkla ASA
Period End: 
31 December 2010
Report issued on 04 October 2011 covered the following practice issues:
Change
Impairment of associate leads to loss for year as market value of associate treated as equivalent to impairment test result.
Change
Impairment assumptions disclosed for individual business units.
Change
Business presented as discontinued operation.
Change
Improved disaggregation of equity reserves.
Change
Significant impact foreseen from expected change to IFRS requirements on operating leases.
Restatement
Correction of misstated figures on share options.

BAE Systems plc Period End 31 December 2010

Submitted by Company Reporting on Thu, 2011-09-01 09:52
BAE Systems plc Annual Report 2010
CR Monitor Issue: 
2011/0901
Company covered: 
BAE Systems plc
Period End: 
31 December 2010
Report issued on 01 September 2011 covered the following practice issues:
Change
Inflation index gain on move to Consumer Prices Index for pensions recognised in other comprehensive income.
Change
Former associate classed as discontinued operation with residual interest treated as financial asset.
Change
Business combination adjusted for resolution of dispute on receipt of payment from former owners.
Change
Deferred tax remeasured for fall in corporation tax rate.
Divergence
Fees for audit services relating to pension schemes disclosed following UK regulations, with belated comparative.

SSAB AB Period End 31 December 2010

Submitted by Company Reporting on Fri, 2011-08-12 14:47
SSAB AB Annual Report 2010
CR Monitor Issue: 
2011/0809
Company covered: 
SSAB AB
Period End: 
31 December 2010
Report issued on 12 August 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Directors' variable remuneration payments recognised on cash basis.
Inconsistent
Share of associate amounts disclosed rather than total.
Change
Reportable segments based on geographical locations rather than operational activity.
Change
Auditors' fees analysed by nature of service.
Restatement
Opening balance of reserves restated in correction of error.

Barclays plc Period End 31 December 2010

Submitted by Company Reporting on Thu, 2011-06-09 07:24
Barclays plc Annual Report 2010
CR Monitor Issue: 
2011/0604
Company covered: 
Barclays plc
Period End: 
31 December 2010
Report issued on 09 June 2011 covered the following practice issues:
Change
No figures for reported contingency that materialised two months after annual report issued with numbers reported in press shortly after.
Change
Adoption of new Code for Financial Reporting Disclosure contributes to greater focus and omission of immaterial information.
Change
New Code leads to new format for risk disclosures, as sovereign risk moves centre stage.
Change
Share-based payments disclosures streamlined and extra information given on awards granted.
Change
Presentation of tax in statement of comprehensive income shifts.
Change
Gains from 'own credit' that will be excluded from income statements under impending IFRS 9 "Financial instruments" reported separately.

Renault SA Period End 31 December 2010

Submitted by Company Reporting on Tue, 2011-05-31 06:23
Renault SA Annual Report 2010
CR Monitor Issue: 
2011/0519
Company covered: 
Renault SA
Period End: 
31 December 2010
Report issued on 31 May 2011 covered the following practice issues:
Divergence
New tax component treated as operating charge in contrast to several other companies, with no disclosure of amount involved.
Change
Significant capital gain on sale of interest in associate and disclosure of related tax benefit, with significant influence maintained despite holding of under 20%.
Change
Deferred tax assets recognised as taxable profits foreseen in calculations.
Change
New disclosure of environmental information is accompanied by detailed 'reasonable assurance' report from auditors.
Change
Maturity analysis of loan to be repaid early reflects company's current intentions.

Sampo Oyj Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-05-25 06:23
Sampo Oyj Annual Report 2010
CR Monitor Issue: 
2011/0516
Company covered: 
Sampo Oyj
Period End: 
31 December 2010
Report issued on 25 May 2011 covered the following practice issues:
Change
Sensitivity analysis on financial instruments highlights previous non-compliance with IFRS.
Change
Statement of comprehensive income analysed by segment.
Inconsistent
Information on defined benefit pension schemes restricted to last two years, contrary to IFRS.
Inconsistent
Remuneration of key management personnel restated without explanation, contrary to IFRS.

Volkswagen AG Period End 31 December 2010

Submitted by Company Reporting on Fri, 2011-05-13 09:02
Volkswagen AG Annual Report 2010
CR Monitor Issue: 
2011/0511
Company covered: 
Volkswagen AG
Period End: 
31 December 2010
Report issued on 13 May 2011 covered the following practice issues:
Divergence
Effect of derivative that is not a hedge inaccurately included with disclosures on ineffective hedges.
Change
Cash and cash equivalents reclassified to loans and receivables.
Change
Explanation of significant influence in 19.9% associate.
Change
Revision of segmentation following internal reporting.
Change
Waiver of rights treated as separate transaction to business combination.