IFRS 9 'Financial instruments'

Burberry Group plc Monitor

Burberry Group plc Annual Report 2017
CR Monitor Issue: 
2017/0908
Company covered: 
Burberry Group plc
Period End: 
31 March, 2017
Report issued on 19 September 2017 covered the following practice issues:
Change
Transactions with non-controlling shareholders lead to acquisition of increased share of economic rights in subsidiaries.
Change
Recognition of treasury shares following share buy back.
Change
Principal risk disclosures expanded to include discussion of Brexit.
New
Disclosure of a post balance sheet agreement to dispose of a business to a third party.
Pronouncements
Un-quantified disclosure as to the future impacts of IFRS 9 "Financial instruments".

SEGRO plc Monitor

SEGRO plc Annual Report 2016
CR Monitor Issue: 
2017/0906
Company covered: 
SEGRO plc
Period End: 
31 December, 2016
Report issued on 08 September 2017 covered the following practice issues:
Change
Graph added to directors remuneration report showing potential remuneration under multiple performance scenarios.
Change
Share premium recognised in relation to shares issued under equity placing.
Pronouncements
Introduction of detailed discussion of future impacts of new standards including IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers" and IFRS 16 "Leases" plus amendments to IAS 12 "Income taxes".
New
Table showing non-executive directors shareholding introduced to directors remuneration report.
Change
Risk disclosures enhanced by introduction of a risk heat map diagram.
Change
Summarised income statement and balance sheet information disclosed for newly formed joint venture.

Bunzl plc Monitor

Bunzl plc Annual Report 2016
CR Monitor Issue: 
2017/0813
Company covered: 
Bunzl plc
Period End: 
31 December, 2016
Report issued on 28 August 2017 covered the following practice issues:
Pronouncements
Change in accounting policy in respect of cash pooling balances in line with IFRIC guidance.
Change
Software assets re-classified from property plant and equipment to intangible assets.
Pronouncements
Disclosure of future impacts of impending standards, IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers" and IFRS 16 "Leases", with no quantification.
Change
Results from US arm of European based business reclassified from European to North American segment following change in management location.
New
Tabular disclosure added summarising business acquisitions completed during the year.

Koninklijke Philips N.V. Monitor

Koninklijke Philips N.V. Annual Report 2016
CR Monitor Issue: 
2017/0812
Company covered: 
Koninklijke Philips N.V.
Period End: 
31 December, 2016
Report issued on 22 August 2017 covered the following practice issues:
Restatement
Reclassification of all net defined-benefit post-employment plan obligations under long-term provisions.
Change
Cash flow from sale of non-controlling interest in previously wholly owned subsidiary reflected as arising from financing activities.
Restatement
Reporting segment information restated following a change in organisational structure.
Change
Change in reporting segment profit measure.
Pronouncements
Detailed un-quantified disclosure of future impacts of new revenue standard.
Pronouncements
Un-quantified disclosure of the future impact of new financial instruments standard.

Novozymes A/S Monitor

Novozymes A/S Annual Report 2016
CR Monitor Issue: 
2017/0709
Company covered: 
Novozymes A/S
Period End: 
31 December, 2016
Report issued on 18 July 2017 covered the following practice issues:
Pronouncements
Introduction of new section "key audit matters" in auditors' report as a result of change in audit standards.
Change
Allocation of goodwill to cash generating units for impairment test purposes changed.
Change
Breakdown of key management remuneration includes "severance costs"
Change
New principal risk factor added in respect of "Delay of BioAg commercialisation"
Pronouncements
Extended discussion on the impacts of new standards including IFRS 9 and IFRS 16.
Change
Goodwill on acquisition of business attributed to synergy benefits.

Carillion plc Monitor

Carillion plc Annual Report 2016
CR Monitor Issue: 
2017/0708
Company covered: 
Carillion plc
Period End: 
31 December, 2016
Report issued on 18 July 2017 covered the following practice issues:
Restatement
Finalisation of business acquisition fair values including contingent consideration leads to change in goodwill.
Change
Revenue recognition under licensing agreements identified as a risk of material misstatement by the auditors.
New
Introduction of discussion on alternative performance measures.
Change
Non-recurring items including restructuring costs highlighted separately.
Pronouncements
Improved discussion on new standards covering leases, revenue from contracts with customers and financial instruments.
Change
Brexit identified as new risk factor within tabular disclosure of principal risks.

UPM-Kymmene Corporation Monitor

UPM-Kymmene Corporation Annual Report 2016
CR Monitor Issue: 
2017/0706
Company covered: 
UPM-Kymmene Corporation
Period End: 
31 December, 2016
Report issued on 11 July 2017 covered the following practice issues:
Change
Underlying reasons for recognition of impairments disclosed.
Change
Change in presentation of cash flow statement to add separate line items for net cash flows from investment hedges and net cash flows from derivatives.
Pronouncements
Auditors report enhanced by inclusion of discussion of key audit matters in line with new auditing standard.
Pronouncements
Introduction of a discussion on new accounting standards in relation to revenue, financial instruments and leases.
New
Additional discussion on Alternative performance measures included.

Thomas Cook Group plc Monitor

Thomas Cook Group plc Annual Report 2016
CR Monitor Issue: 
2017/0607
Company covered: 
Thomas Cook Group plc
Period End: 
30 September, 2016
Report issued on 20 June 2017 covered the following practice issues:
Pronouncements
Disclosure of changes to non-audit services policy as a result of new regulation.
Change
'Failure to develop diverse portfolio' and 'Brexit' identified as new principal risks.
Change
Detailed discussion of non-IFRS alternative performance measures added.
Pronouncements
Improved disclosures regarding new standards including IFRS 9 and IFRS 16.
Change
Additional disclosures added in respect of minority interest put and call option including misleading reference to a joint venture.
Change
Changes in directors remuneration policy disclosed in tandem with improved explanation of links to strategy.

Adidas AG Monitor

Adidas AG Annual Report 2016
CR Monitor Issue: 
2017/0510
Company covered: 
Adidas AG
Period End: 
31 December, 2016
Report issued on 23 May 2017 covered the following practice issues:
Change
Disclosure of information in respect of new equity settled share purchase plan for employees.
Pronouncements
Summarised non-quantified disclosure of impacts of new standards namely IFRS 9, IFRS 15 and IFRS 16.
Restatement
Financial instrument disclosures restated without explanation.

Senior plc Monitor

Senior plc Annual Report 2016
CR Monitor Issue: 
2017/0512
Company covered: 
Senior plc
Period End: 
31 December, 2016
Report issued on 23 May 2017 covered the following practice issues:
Change
Tabular disclosure of principal risks includes new risk factors in respect of "Geopolitical impact" and "cyber/information security".
Pronouncements
Discussion of impacts of new standards added to accounting policies note.
Pronouncements
Quantified disclosure of the impacts of IFRS 16 "Leases"
Change
Property reclassified as asset held for sale.
Change
New summary section included in audit report.