PricewaterhouseCoopers

National Grid plc Monitor

Submitted by 25012e8a-3b28-4... on Tue, 2018-08-14 13:57

CR Monitor Issue:

2018/0809

Company covered:

National grid plc

Period End:

31 March, 2018

Report issued on 14 August 2018 covered the following practice issues:

Extended disclosure as to the future impacts of IFRS 9 "Financial instruments" and IFRS 15 "Revenues from contracts with customers" including quantifcation.

Multi-column income statement format adopted highlighting exceptional items and re-measurements.

Re-classification of commodity derivative contracts in statement of financial position.

Disclosure in respect of US tax changes including reduction of corporate income tax rate from 35% to 21%.

SKF AB

Submitted by 25012e8a-3b28-4... on Tue, 2018-08-14 12:15

CR Monitor Issue:

2018/0807

Company covered:

SKF AB

Period End:

31 December, 2017

Report issued on 14 August 2018 covered the following practice issues:

Change in presentation of income statement to reflect cash discounts in net sales rather than as an expense.

Extended disclosure in respect of the future impact of IFRS 16 "Leases".

Restatement of net sales by segment to reflect reallocation of businesses.

Analysis of contingent liabilities altered to include liabilities in respect of tax claims.

Hunting PLC Monitor

Submitted by Swati Valecha on Tue, 2018-08-07 14:09

CR Monitor Issue:

2018/0801

Company covered:

Hunting PLC

Period End:

31 December, 2017

Report issued on 7 August 2018 covered the following practice issues:

Audit report includes separate sections discussing director and auditor responsibilities.

Extended disclosure in respect of the impacts of new accounting standards: IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".

Restatement of segmental information linked to change in management structure.

Change in disclosure of directors remuneration policy including separate disclosure of performance metrics.

Restatement of fair value disclosures.

Deutsche Post AG Monitor

Submitted by Swati Valecha on Mon, 2018-08-06 08:28

CR Monitor Issue:

2018/0805

Company covered:

Deutsche Post AG

Period End:

31 December, 2017

Report issued on 07 August 2018 covered the following practice issues:

Disclosure of the future impacts of new standards that are currently not effective: IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".

Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of amendment to IAS 7 Statement of cash flows".

Detailed disclosure in respect of business acquired during the year.

Restatement of segmental disclosures following reclassification of businesses between segments.

Reduction in useful life of intangible asset results in additional amortisation.

Intertek Group Plc Monitor

Submitted by 25012e8a-3b28-4... on Tue, 2018-07-31 14:38

CR Monitor Issue:

2018/0725

Company covered:

Intertek Group Plc

Period End:

31 December, 2017

Report issued on 31 July 2018 covered the following practice issues:

Extended disclosure in respect of the impacts of IFRS 9 "Financial instruments" and IFRS 15 "Revenues from contracts with customers".

Extended risk disclosure including identification of new principal risk factor.

Added disclosure outlining sustainability goals.

Reduction in US tax rate leads to re-measurement of deferred tax liabilities.

Sensitivity analysis introduced to acquisition note in respect of contingent consideration.

Reckitt Benckiser Group plc

Submitted by Swati Valecha on Tue, 2018-07-24 14:00

CR Monitor Issue:

2018/0716

Company covered:

Reckitt Benckiser Group plc

Period End:

31 December, 2017

Report issued on 24 July 2018 covered the following practice issues:

Detailed disclosure in respect of discontinued operations.

Presentation of a discussion on the impacts of new standards that are issued but not yet effective including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".

Format of net debt reconciliation altered following adoption of amendment to IAS 7 "Statement of cash flows".

Detailed disclosure in relation to business combination during the year including a qualitative description of what goodwill represents.

Discussion of key audit matters included in the audit report.

Restatement of segmental disclosures linked to business acquisition.

Legal & General Group plc Monitor

Submitted by 609607d4-597e-4... on Tue, 2018-07-24 07:53

CR Monitor Issue:

2018/0717

Company covered:

Legal & General Group plc

Period End:

31 December, 2017

Report issued on 24 July 2018 covered the following practice issues:

Detailed disclosure in respect of business classified as discontinued operation.

Disclosure of the impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers", IFRS 16 "Leases" and IFRS 17 "Insurance contracts".

Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of amendment to IAS 7 "Statement of cash flows".

Amounts reclassified from cash and cash equivalents to financial investments following an assessment of their maturity.

Segmental reporting information restated following reclassification of business as a discontinued operation.

Reverse repurchase agreements reclassified as financial assets.

Hammerson plc Monitor

Submitted by 609607d4-597e-4... on Tue, 2018-07-17 14:37

CR Monitor Issue:

2018/0714

Company covered:

Hammerson plc

Period End:

31 December, 2017

Report issued on 17 July 2018 covered the following practice issues:

Enhanced disclosure in respect of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".

Net exchange gain re-classified to profit and loss account.

Restatement of cash flow from operating activities to investing activities.

Enhanced disclosure of accounting policies in relation to disposals and derivatives.

Extended disclosure in respect of pensions scheme including asset and sensitivity analysis information.

Disclosure of key inputs employed in the valuation of Level 3 financial instruments. .

Hiscox Ltd Monitor

Submitted by 25012e8a-3b28-4... on Tue, 2018-07-17 07:08

CR Monitor Issue:

2018\0613

Company covered:

Hiscox Ltd

Period End:

31 December, 2017

Report issued on 17 July 2018 covered the following practice issues:

Disclosure enhanced in relation to impact of IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 17 "Insurance contracts".

Restatement of cash flow amount from operating activities to investing activities.

Restatement in presentation of investment results to exclude investment management fees.

Extended disclosure of principal risk factors.

Profit and cash flow information disclosed in respect of operations disposed.

Disclosure of change in reporting currency.

Clariant Ltd Monitor

Submitted by anuj lodha on Tue, 2018-07-10 11:22

CR Monitor Issue:

2018/0708

Company covered:

Clariant Ltd

Period End:

31 December, 2017

Report issued on 10 July 2017 covered the following practice issues:

Extended disclosure in respect of new standards issued but not yet applicable including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".

Enhanced disclosure in respect of exchange rate policy.

Reclassification of income taxes in the cash flow statement.

Extended disclosure of key audit matters in the auditors' report.

Reclassification of liabilities to a non-current classification to reflect maturity profile.

Extended disclosure of revenue recognition policy.