IAS 31 (revised) 'Interests in joint ventures'

Aquarius Platinum Limited Period End 30 June 2011

Submitted by YWang on Tue, 2012-01-17 11:15
Aquarius Platinum Limited Annual Report 2011
CR Monitor Issue: 
2012/0106
Company covered: 
Aquarius Platinum Limited
Period End: 
30 June 2011
Report issued on 17 January 2012 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
US$160 million impairments against a mine and a loan balance due from a third party.
Change
Post balance sheet acquisition and other event.
Change
Disclosure of key performance indicators revised.

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.

HeidelbergCement AG Period End 31 December 2010

Submitted by YWang on Thu, 2011-09-15 14:09
HeidelbergCement AG Annual Report 2010
CR Monitor Issue: 
2011/0906
Company covered: 
HeidelbergCement AG
Period End: 
31 December 2010
Report issued on 15 September 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Change in disclosure of contribution of proportionately consolidated joint ventures from relative percentage to absolute numbers.
Change
Analysis of non-recurring income and expenses expanded.
Inconsistent
Maturity analysis of provisions provided without prior year comparatives.
Change
Liabilities on put options presented separately.
Change
Europe reportable segment splitted into two with a geographical analysis of revenue and non-current assets provided.
Change
Cash flows from changes in ownership interests in a subsidiary classified as financing.

Intesa Sanpaolo SpA Period End 31 December 2009

Submitted by Company Reporting on Mon, 2010-06-21 10:41
Intesa Sanpaolo SpA Annual Report 2009
Fair valuing residual interests in previous associate and joint venture following partial disposals boosts profit
Italian bank Intesa Sanpaolo makes partial disposals of investments in companies previously accounted for as an associate and joint venture that result in loss of significant influence and joint control and fair values the residual interests thus increasing profit from continuing operations by 5.5%.
Prior year change to criteria for impairing investments reversed
Italian bank Intesa Sanpaolo reverses a prior year change to its procedure for impairing financial assets and redefines a “prolonged” decline in fair value as 24 rather than 12 months thus demonstrating a lack of consistency.

J Sainsbury plc Period End 21 March 2009

Submitted by Company Reporting on Tue, 2009-08-11 23:00

Fair value losses on investment property held in joint ventures reduce profit by 21%

UK retailer J Sainsbury moves to the fair value model for investment property held within two joint ventures, leading to a £124 million decline in fair value in the year that reduces profit before tax by 21%.

Thales SA Period End 31 December 2008

Submitted by Company Reporting on Thu, 2009-06-25 23:00
Thales Annual Report 2008

Non-consolidation of joint venture investment conflicts with IFRS
French defence and security company Thales recognises €24.5 million investment in a joint venture as an available-for-sale financial asset in a presentation that is misleading and falls short of IFRS.

Flattering change of presentation draws auditors' attention
French defence and security company Thales changes to include restructuring costs above income from operations, turning a 4% increase in the figure over two years into a 34% increase and drawing comment from its auditors.