Italy

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.

Snam Rete Gas SpA Period End 31 December 2010

Submitted by Company Reporting on Fri, 2011-12-16 10:31
Snam Rete Gas SpA Annual Report 2010
CR Monitor Issue: 
2011/1208
Company covered: 
Snam Rete Gas SpA
Period End: 
31 December 2010
Report issued on 16 December 2011 covered the following practice issues:
Restatement
Service concession arrangement assets move to intangible asset model.
Restatement
Deferred income subject to decision by Italian authority divided between current and non-current and moved out of provisions.

Pirelli & C SpA Period End 31 December 2010

Submitted by Company Reporting on Thu, 2011-12-15 16:18
Pirelli & C SpA Annual Report 2010
CR Monitor Issue: 
2011/1207
Company covered: 
Pirelli & C SpA
Period End: 
31 December 2010
Report issued on 15 December 2011 covered the following practice issues:
Change
Liability remeasured on demerger following IFRIC 17.

Finmeccanica SpA Period End 31 December 2010

Submitted by YWang on Wed, 2011-11-30 14:26
Finmeccanica SpA Annual Report 2010
CR Monitor Issue: 
2011/1114
Company covered: 
Finmeccanica SpA
Period End: 
31 December 2010
Report issued on 30 November 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Separate disclosures made for each current year acquisition.
Change
Disclosures of the allocation of goodwill to cash-generating units within one segment and the discount rate used by segment.
Change
Pension deficits and surpluses shown in the five-year history but still no disclosure of experience adjustments.

Saipem SpA Period End 31 December 2010

Submitted by YWang on Tue, 2011-11-29 10:41
Saipem SpA Annual Report 2010
CR Monitor Issue: 
2011/1112
Company covered: 
Saipem SpA
Period End: 
31 December 2010
Report issued on 29 November 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Several changes made to cash flow statement.
Change
Post balance sheet organisational changes.

Assicurazioni Generali SpA Period End 31 December 2010

Submitted by YWang on Thu, 2011-10-27 12:12
Assicurazioni Generali SpA Annual Report 2010
CR Monitor Issue: 
2011/1013
Company covered: 
Assicurazioni Generali SpA
Period End: 
31 December 2010
Report issued on 27 October 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Pension assumptions analysed by geographical location but other disclosures still provided only in aggregate.
Inconsistent
Comparatives in tax reconciliation no longer provided.
Change
Application of a "business approach" in segment reporting expanded to balance sheet disclosures but details are unclear.
Change
Provisions for taxation partially reclassified from "other provisions" to "tax payables".

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.

Fiat SpA Period End 31 December 2010

Submitted by Company Reporting on Tue, 2011-04-26 06:10
Fiat SpA Annual Report 2010
CR Monitor Issue: 
2011/0405
Company covered: 
Fiat SpA
Period End: 
31 December 2010
Report issued on 26 April 2011 covered the following practice issues:
Divergence
Inadequate disclosure as demerger treated as outside scope of IFRIC 17.
Change
Reconciliation of US GAAP and IFRS accounts of associate.
Change
Intentions for share capital disclosed in light of demerger.
Change
Implications of demerger for share-based payments disclosed.
Change
Gain on remeasurement of prior holding recognised on acquisition.
Change
Buy-out of non-controlling interest treated as equity transaction.