Impairments

Close Brothers Group plc Period End 31 July 2011

Submitted by YWang on Wed, 2012-01-25 15:27
Close Brothers Group plc Annual Report 2011
CR Monitor Issue: 
2012/0111
Company covered: 
Close Brothers Group plc
Period End: 
31 July 2011
Report issued on 25 January 2012 covered the following practice issues:
Change
Impairment arising from an adjusting post balance sheet reduces profit by 31.4%.
Change
Businesses within Asset Managment division disposed of classified as discontinued operations.
Change
Changes in disclosures in a note to operating profit before tax including more detailed disaggregations.

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.

Unicredit Group SpA Period End 31 December 2010

Submitted by Company Reporting on Thu, 2011-12-22 15:40
Unicredit Group SpA Annual Report 2010
CR Monitor Issue: 
2011/1217
Company covered: 
Unicredit Group SpA
Period End: 
31 December 2010
Report issued on 22 December 2011 covered the following practice issues:
Change
Impairment that reduces profit by 14.3% attributed to country-specific economic crisis and market volatility, as growth rates no longer disclosed by country.
Divergence
Move from fee and commission income to interest expense and similar charges attributed to intra-group merger.
Change
Regulatory capital calculation changed to symmetric basis in respect of reserves arising from sovereign debt holdings.

Rentokil Initial plc Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-12-21 13:46
Rentokil Initial plc Annual Report 2010
CR Monitor Issue: 
2011/1215
Company covered: 
Rentokil Initial plc
Period End: 
31 December 2010
Report issued on 21 December 2011 covered the following practice issues:
Change
Significant goodwill impairments on prior year acquisitions attributed to dampened cash flow forecasts.
Change
Change of pension inflation measure leads to income statement gain.
Change
"One-off items" disclosed on line of income statement and excluded from adjusted earnings per share.
Change
Brands disaggregated as separate class of intangible asset in table.

Elan Corporation plc Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-11-23 11:39
Elan Corporation plc Annual Report 2010
CR Monitor Issue: 
2011/1109
Company covered: 
Elan Corporation plc
Period End: 
31 December 2010
Report issued on 23 November 2011 covered the following practice issues:
Change
Provision recognised for investigation that was an unquantified contingency in previous period.
Inconsistent
No separate line for share of result of associate on income statement.
Change
Change in segmental disclosure of impairments.
Restatement
Exposure to credit risk restated.

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.

Boliden AB Period End 31 December 2010

Submitted by YWang on Thu, 2011-08-18 06:34
Boliden AB Annual Report 2010
CR Monitor Issue: 
2011/0812
Company covered: 
Boliden AB
Period End: 
31 December 2010
Report issued on 18 August 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Comparative reconciliations of movements in tangible and intangible assets provided.
Change
Reconciliation of movements in pension assets and obligations provided along with a 5-year history.
Change
SEK2.1 billion transferred from share premium to retained earnings following a review of equity.
Change
Improvements in disclosures of impairment tests and changes in the assumptions used.
Change
Correction of an error in prior year disclosure of financial instruments by category.
Change
Explanation provided for the contrast between the carrying and fair values of liabilities to credit institutions in both years.

Royal DSM NV Period End 31 December 2010

Submitted by Company Reporting on Mon, 2011-08-01 10:58
Royal DSM NV Annual Report 2010
CR Monitor Issue: 
2011/0801
Company covered: 
Royal DSM NV
Period End: 
31 December 2010
Report issued on 01 August 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Expenses now presented by function rather than by nature.
Change
Assets to be contributed to joint venture classified as held for sale.
Change
Impairment reversal recognised.
Change
Analysis of short-term monetary liabilities added to maturity analysis.
Change
Pension curtailment gain and asset ceiling charge recognised.

AP Moller Maersk A/S Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-07-27 15:19
AP Moller Maersk A/S Annual Report 2010
CR Monitor Issue: 
2011/0713
Company covered: 
AP Moller Maersk A/S
Period End: 
31 December 2010
Report issued on 27 July 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Pre-acquisition book values not identified.
Change
Impairment test basis altered.
Restatement
Provisions relating to legal disputes identified separately.
Restatement
Deferred tax assets and liabilities grossed up.
Restatement
Amounts on the face of the income statement no longer aggregated.
Change
Financial impact of post balance sheet event not quantified.

Hellenic Telecommunications Organisation SA Period End 31 December 2010

Submitted by Company Reporting on Mon, 2011-07-18 15:30
Hellenic Telecommunications Organisation SA Annual Report 2010
CR Monitor Issue: 
2011/0708
Company covered: 
Hellenic Telecommunications Organisation SA
Period End: 
31 December 2010
Report issued on 19 July 2011 covered the following practice issues:
Restatement
Move from corridor method to immediate recognition of actuarial movements on defined benefit pension commitments.
Change
Improved disclosure of risks includes discussion of regulatory framework, impairments, pensions and tax.
Restatement
Goodwill adjustment shown separately as business combination finalised.
Change
Provision recognised following pension negotiations with Greek government, with further contingent liability disclosed.
Change
Indications of impairment leads to significant income statement charge.