Risk disclosures

Debenhams plc Period End 3 September 2011

Submitted by YWang on Fri, 2012-01-06 15:34
Debenhams plc Annual Report 2011
CR Monitor Issue: 
2012/0101
Company covered: 
Debenhams plc
Period End: 
3 September 2011
Report issued on 6 January 2012 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Revised assumptions in goodwill impairment test but still no sensitivity analysis provided.
Change
Disclosure of the effects of changes in tax rates.
Change
Disclosure of "change in severity and/or likelihood of risk during the course of 2011".

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.

National Bank of Greece SA Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-11-02 12:20
National Bank of Greece SA Annual Report 2010
CR Monitor Issue: 
2011/1102
Company covered: 
National Bank of Greece SA
Period End: 
31 December 2010
Report issued on 02 November 2011 covered the following practice issues:
Divergence
Credit rating bands in debt security disclosures changed without explanation, leading to mixture of "investment" and "speculative" graded securities.
Change
Change in classification of some former fee income as interest income.
Restatement
Financial instruments changed to "non-interest bearing" in table showing exposure to interest rate risk.

Pearson plc Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-10-19 11:59
Pearson plc Annual Report 2010
CR Monitor Issue: 
2011/1007
Company covered: 
Pearson 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
Actuarial gain recognised in other comprehensive income following change in pensions inflation index.
Change
Non-controlling interest measured initially at proportionate share of net assets.
Change
Business classified as discontinued operations with consequent change in segmentation.
Divergence
Trade creditors included in maturity analysis of cash flows associated with financial liabilities, following IFRS.
Change
Information on reduction in UK tax rate disclosed.
Change
Transaction with non-controlling interest included in financing activities.

Eni SpA Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-09-07 10:07
Eni SpA Annual Report 2010
CR Monitor Issue: 
2011/0904
Company covered: 
Eni SpA
Period End: 
31 December 2010
Report issued on 12 September 2011 covered the following practice issues:
Restatement
Service concession assets reclassified from property, plant and equipment to intangible assets on adoption of IFRIC Interpretation.
Change
Goodwill impaired in light of reduced profitability expectations for cash-generating unit, with disclosure of reduced margins and sales volumes.
Change
Increased disclosure of new pricing and risk management strategies in light of change in market risk profile, following impairment.
Restatement
Revised classification of deferred tax balances by type.
Restatement
Statement of cash flows restated with loss of detail on exchange differences within operating cash flows, but increased disclosure of equity accounted investments.
Change
Transparency of invoices leads to fine, as investigation commenced into final billing and periodicity of billing in gas sector.

Holmen AB Period End 31 December 2010

Submitted by YWang on Tue, 2011-08-16 07:06
Holmen AB Annual Report 2010
CR Monitor Issue: 
2011/0810
Company covered: 
Holmen AB
Period End: 
31 December 2010
Report issued on 16 August 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Primary financial statements now accompanied by management commentary.
Change
Silviculture provision no longer shown as a separate class.
Change
Inclusion of a Sustainability Report.
Change
Disclosures of risk management now presented in a separate section in management commentary with those relating to financial risks moved from financial statements.
Change
Amendment to Swedish legislation prompts more detailed disclosure about auditors' fees.

Belgacom SA Period End 31 December 2010

Submitted by Company Reporting on Wed, 2011-08-10 09:07
Belgacom SA Annual Report 2010
CR Monitor Issue: 
2011/0807
Company covered: 
Belgacom SA
Period End: 
31 December 2010
Report issued on 11 August 2011 covered the following practice issues:
Change
Gain recognised as shareholders' agreement determines timing of full consolidation of former joint venture.
Change
Five year pension history highlights previous non-compliance with IFRS.
Restatement
Stock options included in remuneration of key management personnel.
Restatement
Investments moved to Level 1 of fair value hierarchy.
Restatement
Categorisation of cash and cash equivalents changed.

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.

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.

Swedbank AB Period End 31 December 2010

Submitted by Company Reporting on Tue, 2011-07-12 09:08
Swedbank AB Annual Report 2010
CR Monitor Issue: 
2011/0705
Company covered: 
Swedbank AB
Period End: 
31 December 2010
Report issued on 12 July 2011 covered the following practice issues:
Restatement
Only cash and balances with central banks classed as cash and cash equivalents.
Divergence
Difference between nominal and carrying amount of financial assets and liabilities described as "discount effect" in unusual presentation.
Change
Section on financial targets added to management commentary.
Change
General discussion of risk discloses enterprise risk management policy.
Change
Buy-out of minority interest accounted for through equity.
Change
New view of variable compensation disclosed and attributed to reflection on financial crisis.