Related party transactions

Kier Group plc Period End 30 June 2011

Submitted by Company Reporting on Mon, 2012-01-23 15:30
Kier Group plc Annual Report 2011
CR Monitor Issue: 
2012/0109
Company covered: 
Kier Group plc
Period End: 
30 June 2011
Report issued on 23 January 2012 covered the following practice issues:
Change
Profit on disposal of PFI joint ventures no longer classed as exceptional.
Change
Revised IFRS 3 adopted, but no gain or loss recognised on revaluation of prior interest on acquisition, as company equates previous carrying value with fair value.
Inconsistent
Interest on loans to joint ventures included in related party transactions, highlighting prior year non-compliance.

Related Party Disclosures

Focusing on a sample of 30 large listed European companies that report under IFRS, supplemented by Company Reporting data and comment, this report analyses the types of related parties identified and the form that company disclosures take.
 

L'Oréal SA Period End 31 December 2010

Submitted by Company Reporting on Thu, 2011-11-24 13:47
L'Oréal SA Annual Report 2010
CR Monitor Issue: 
2011/1110
Company covered: 
L'Oréal SA
Period End: 
31 December 2010
Report issued on 24 November 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
New provision recognised for potential fines, with increased disaggregation in note.
Change
New risk disclosures made for natural disasters, external growth and human resource management.
Restatement
Disclosures for former periods reclassified as segmentation changes.
Change
Increase in impairment test disclosures and reallocation of cash-generating unit goodwill and intangibles with indefinite useful lives.

Amec plc Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-10-19 13:13
Amec plc Annual Report 2010
CR Monitor Issue: 
2011/1008
Company covered: 
Amec plc
Period End: 
31 December 2010
Report issued on 19 October 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Contingencies recognised at fair value on business combination.
Inconsistent
Prior period error revealed as share-based payments included in presentation of senior management remuneration.
Change
Goodwill monitored for impairment at higher level.
Change
Segment assets and liabilities no longer disclosed.

Erste Group Bank AG Period End 31 December 2010

Submitted by YWang on Thu, 2011-10-06 15:36
Erste Group Bank AG Annual Report 2010
CR Monitor Issue: 
2011/1002
Company covered: 
Erste Group Bank AG
Period End: 
31 December 2010
Report issued on 06 October 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Derivative financial instruments presented separately on the face of balance sheet.
Change
Movements in each component of equity now disclosed in the statement of changes in equity.
Change
Compensations to the Management and Supervisory boards no longer disaggregated across individual members.
Change
Tax expense analysed into current and prior periods.
Change
Increase in disclosure of testing goodwill for impairment.
Change
Credit exposure by industry analysed further in line with the balance sheet.

Groupe Danone Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-08-24 09:17
Groupe Danone Annual Report 2010
CR Monitor Issue: 
2011/0815
Company covered: 
Groupe Danone
Period End: 
31 December 2010
Report issued on 24 August 2011 covered the following practice issues:
Restatement
Goodwill eliminated as policy on previous put option liabilities brought into line with policy for options issued in current year, in line with local GAAP recommendation.
Change
Creation of combined business treated as a business combination with non-controlling interests arising.
Change
Grouping of significant items in 'other operating income and expenses' explained by reference to local GAAP recommendation issued in light of revised IAS 1 "Presentation of financial statements".
Change
End to offsetting of financial assets against financial debt on face of balance sheet.
Change
Cash flows from transactions with non-controlling interests classed together in financing activities.

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.

Swedish Match AB Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-06-29 10:26
Swedish Match AB Annual Report 2010
CR Monitor Issue: 
2011/0616
Company covered: 
Swedish Match AB
Period End: 
31 December 2010
Report issued on 29 June 2011 covered the following practice issues:
Divergence
Unrecognised portion of gain on contribution of businesses in exchange for interest in associate is described as deferred rather than eliminated.
Change
Company adopts Global Reporting Initiative guidelines as structure of sustainability reporting.
Change
Gain arises as transfer of pension commitments to insurer leads to their being accounted for as defined contribution schemes.
Change
Segmentation changed following contribution of businesses to new associate.
Restatement
Unexplained restatement of comparative directors' remuneration.

BASF SE Period End 31 December 2010

Submitted by Company Reporting on Fri, 2011-06-03 09:29
BASF SE Annual Report 2010
CR Monitor Issue: 
2011/0602
Company covered: 
BASF SE
Period End: 
31 December 2010
Report issued on 03 June 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Analysis of related party transactions presented.
Change
Aged analysis of overdue receivables includes disclosure of doubtful debt valuation allowances.
Restatement
Cash flows from hedging activities shown as part of financing activities rather than operating activities.