Changing Practice

InterContinental Hotels Group plc Monitor

InterContinental Hotels Group plc Annual Report 2018
CR Monitor Issue: 
2018/0619
Company covered: 
InterContinental Hotels Group plc
Period End: 
31 December, 2017
Report issued on 20 June 2018 covered the following practice issues:
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities on adoption of amendment to IAS 7 "Statement of cash flows".
Change
Extended disclosure of key audit matters in the auditors' report.
Pronouncements
Extended disclosure in respect of the future impacts of IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Introduction of reconciliations showing the calculation of non-IFRS performance measures.

BAE Systems plc Monitor

BAE systems plc Annual Report 2017
CR Monitor Issue: 
2018/0620
Company covered: 
BAE systems plc
Period End: 
31 December, 2017
Report issued on 20 June 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the future impacts of IFRS 15 "Revenues from contracts with customers" including detailed quantification.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities on adoption of amendment to IAS 7 "Statement of cash flows".
Change
Software assets and development costs identified as separate classes of intangible asset.

Beazley plc Monitor

Beazley plc Annual Report 2017
CR Monitor Issue: 
2018/0616
Company covered: 
Beazley plc
Period End: 
31 December, 2017
Report issued on 20 June 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the future impacts of new standards: IFRS 17 "Insurance contracts"; IFRS 16 "Leases"; IFRS 9 "Financial instruments"; and IFRS 15 "Revenues from contracts with customers".
New
Recognition of intangible assets following a business combination.
Restatement
Restatement of segmental reporting structure.
Change
High yield bond funds included in analysis of unconsolidated structured entities.
Change
Auditors' report includes separate sections discussing director and auditor responsibilities.
Change
Extended disclosure of principal risks.

Bayerische Motoren Werke AG Monitor

Bayerische Motoren Werke AG Annual Report 2017
CR Monitor Issue: 
2018/0618
Company covered: 
Bayerische Motoren Werke AG
Period End: 
31 December, 2017
Report issued on 20 June 2018 covered the following practice issues:
Pronouncements
Disclosure of financial impact of new accounting standards issued but not yet effective: IFRS 9 "Financial instruments", IFRS 15 " Revenues from contracts with customers" and IFRS 16 "Leases".
Pronouncements
Disclosure of changes in liabilities arising from financing activities in line with amendment to IAS 7 “Statement of cash flows”.
Change
Inclusion of a discussion on key audit matters in the auditors' report.
Change
Introduction of a table disclosing the valuation method and the inputs used for level 3 financial instruments.
Change
Increased disaggregation of contingent liabilities analysis.
New
Disclosure of directors remuneration enhanced by inclusion of remuneration analysis diagram.

LafargeHolcim Ltd Monitor

LafargeHolcim Ltd Annual Report Year
CR Monitor Issue: 
2018/0617
Company covered: 
LafargeHolcim Ltd
Period End: 
31 December, 2017
Report issued on 20 June 2018 covered the following practice issues:
Pronouncements
Presentation of a reconciliation of movements in financing liabilities following adoption of amendment to IAS 7 "Statement of cashflows"
Change
Results of joint ventures reclassified within operating profit.
Change
Change in definition of highlighted measure of EBITDA.
Change
Auditors' report enhanced by inclusion of application of materiality and overview of audit scope sections.
Change
Introduction of a discussion on key risks in the strategic report.
Change
Summarised disclosure of proposed changes to the directors remuneration policy.

Michelin Monitor

Michelin Annual Report 2017
CR Monitor Issue: 
2018/0614
Company covered: 
Michelin
Period End: 
31 December, 2017
Report issued on 19 June 2018 covered the following practice issues:
Pronouncements
Extended discussion in respect of new accounting standards including IFRS 9 "Financial instruments" and IFRS 15 "Revenues from contracts with customers".
Restatement
Prior year restatement recognised in relation to cash and cash equivalents.
Change
Alteration to depreciation life accounted for as a change in accounting estimate.
Change
Intangible assets recognised following a business acquisition.

Standard Chartered plc Monitor

Standard Chartered Annual Report 2017
CR Monitor Issue: 
2018/0612
Company covered: 
Standard Chartered plc
Period End: 
31 December, 2017
Report issued on 19 June 2018 covered the following practice issues:
Change
Discussion of key audit matters included in auditors' report.
Change
Change in balance sheet format including inclusion of extra line items.
Pronouncements
Detailed disclosure of expected impact of IFRS 9 "Financial instruments" including quantification.
Pronouncements
Introduction of a reconciliation of movements in liabilities arising from financing activities on adoption of amendment to IAS 7 "Statement of cash flows".
Restatement
Recognition of prior year adjustment in respect of contingent liabilities and commitments.

Tullow Oil PLC Monitor

Tullow oil PLC Annual Report Year
CR Monitor Issue: 
2018/0613
Company covered: 
Tullow oil PLC
Period End: 
31 December, 2017
Report issued on 19 June 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of new accounting standards IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers" and IFRS 16 "Leases".
Change
Added cash flow reconciliation disclosures.
Restatement
Restatement of basic and diluted EPS.

UCB SA Monitor

UCB SA Annual Report 2017
CR Monitor Issue: 
2018/0611
Company covered: 
UCB SA
Period End: 
31 December, 2017
Report issued on 19 June 2018 covered the following practice issues:
Pronouncements
Early adoption of IFRS 15 "Revenue from contracts with customers" using a full retrospective approach.
Pronouncements
Enhanced disclosure in respect of the future impacts of IFRS 16 "Leases".
Change
Fair value of previously held interest in business acquired taken into account in calculation of goodwill.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities on adoption of amendment to IAS 7 "Statement of cash flows".
Change
Discussion of key audit matters included in the auditors' report.
Change
Extended disclosure of principal risks including identification of a new risk factor.

Centrica plc Monitor

Centrica plc Annual Report 2017
CR Monitor Issue: 
2018/0615
Company covered: 
Centrica plc
Period End: 
31 December, 2017
Report issued on 19 June 2018 covered the following practice issues:
Restatement
Change in presentation of exceptional items.
Pronouncements
Extended disclosure in respect of new accounting standards issued but not yet effective namely IFRS 9 "Financial instruments"and IFRS 17 "Insurance contracts".
Change
Discussion of key audit matters included in auditors' report.
Change
Enhanced risk disclosures including the presentation of risk framework and risk management diagrams.