Impact Of New Pronouncements

Anglo American plc Monitor

Submitted by 609607d4-597e-4... on Fri, 2019-06-28 11:06

CR Monitor Issue:

2019/0624

Company covered:

Anglo American plc

Period End:

31 December, 2018

Report issued on 28 June 2019 covered the following practice issues:

Segmental information restated due to changes in the segmental structure.

IFRS 15 Revenue from Contracts with Customers and IFRS 9 Financial Instruments adopted from 1 January 2018.

Extended disclosures, including quantification of the expected impact of IFRS 16 Leases.

Additional disclosures in the subsequent events note relating to the termination of a contract.

New section in the auditors’ report on the ‘extent to which the audit was considered capable of detecting irregularities, including fraud’.

Loss on curtailment recognised in the income statement due to a transfer of liabilities in a defined benefit pension plan.

ITV plc Monitor

Submitted by 671be8cb-63b1-4... on Fri, 2019-06-28 06:02

CR Monitor Issue:

2019/0621

Company covered:

ITV plc

Period End:

31 December, 2018

Report issued on 28 June 2019 covered the following practice issues:

Adoption of IFRS 15 Revenue from Contracts with Customers (IFRS 15) and IFRS 9 Financial Instruments (IFRS 9) and from 1 January 2018.

Extended disclosure in respect of the expected impact of IFRS 16 Leases (IFRS 16).

Disclosure of assets classified as held for sale during the year.

NMC Health Plc Monitor

Submitted by e0aa4410-014d-4... on Fri, 2019-06-28 05:50

CR Monitor Issue:

2019/0701

Company covered:

NMC Health Plc

Period End:

31 December, 2018

Report issued on 01 July 2019 covered the following practice issues:

Adoption of IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers from 1 January 2018.

Disclosure of the expected impact of IFRS 16 Leases applicable from 1 January 2019.

Recognition of a gain on bargain purchase in the income statement.

The post balance sheet events note includes disclosure of a newly formed strategic partnership.

New disclosures in respect of finance leases acquired during the year.

Extended disclosure within the ‘post employment benefit plans’ note.

Informa Plc Monitor

Submitted by 671be8cb-63b1-4... on Wed, 2019-06-26 11:53

CR Monitor Issue:

2019/0622

Company covered:

Informa Plc

Period End:

31 December, 2018

Report issued on 26 June 2019 covered the following practice issues:

The segmental information has been restated on the adoption of IFRS 15 Revenue from Contracts with Customers and the presentation of reportable segments has been changed.

Adoption of IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers with effect from 1 January 2018.

Disclosures included in respect of the future impact of IFRS 16 Leases effective for accounting periods starting on or after 1 January 2019.

Critical accounting judgements and key sources of estimation uncertainty disclosures are extended to include additional information.

Disclosure on new key audit matters included within the auditors’ report with an additional section relating to irregularities and fraud.

Assets and liabilities held for sale are disclosed separately within the statement of financial position.

Hiscox Ltd Monitor

Submitted by e0aa4410-014d-4... on Tue, 2019-06-25 14:35

CR Monitor Issue:

2019/0621

Company covered:

Hiscox Ltd

Period End:

31 December, 2018

Report issued on 25 June 2019 covered the following practice issues:

Change in functional and presentational currency with restatement of comparative information.

The segmental reporting structure has been revised.

Adoption of IFRS 15 Revenue from Contracts with Customers from 1 January 2018.

Disclosure of the expected impact of adopting IFRS 16 Leases, IFRS 9 Financial Instruments and Amendments to IAS 19.

The recognition of a past service cost following the equalisation of Guaranteed Minimum Pensions (GMP) for both men and women.

Restatement of line items within 'cash flows from financing activities' in the comparative period of the cash flow statement with nil net impact on overall cash flows.

Fresnillo plc Monitor

Submitted by 671be8cb-63b1-4... on Thu, 2019-06-20 10:51

CR Monitor Issue:

2019/0620

Company covered:

Fresnillo plc

Period End:

31 December, 2018

Report issued on 20 June 2019 covered the following practice issues:

Adoption of IFRS 9 Financial Instruments, IFRS 15 Revenue from Contracts with Customers and IFRIC 22 Foreign Currency Transactions and Advance Considerations from 1 January 2018.

Extended disclosure in respect of the expected impact of IFRS 16 Leases and IFRIC 23 Uncertainty over Income Tax Treatments.

Disclosure of a new key audit matter in the audit report.

Aveva Group Plc Monitor

Submitted by e0aa4410-014d-4... on Thu, 2019-06-20 07:21

CR Monitor Issue:

2019/0619

Company covered:

Aveva Group Plc

Period End:

31 March, 2019

Report issued on 20 June 2019 covered the following practice issues:

Adoption of IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers with effect from 1 April 2018.

Quantification of the expected impact of IFRS 16 Leases applicable from 1 April 2019.

Finalisation of the accounting of a reverse acquisition in the prior year.

Past service cost recognised for the equalisation of Guaranteed Minimum Pensions (GMP).

GlaxoSmithKline plc Monitor

Submitted by e0aa4410-014d-4... on Wed, 2019-06-19 14:20

CR Monitor Issue:

2019/0618

Company covered:

GlaxoSmithKline plc

Period End:

31 December, 2018

Report issued on 19 June 2019 covered the following practice issues:

Adoption of IFRS 15 Revenue from Contracts with Customers (IFRS 15) and IFRS 9 Financial Instruments (IFRS 9) from 1 January 2018.

Disclosure in respect of the expected future impact of new accounting standard IFRS 16 Leases.

Disclosure of events after the balance sheet date.

A new section is added to the audit report covering the detection of irregularities including fraud.

The equalisation of Guaranteed Minimum Pensions for men and women results in the recognition of a past service cost.

Disclosure in respect of ‘transactions signed but not yet completed’ within the acquisitions and disposal note.

Ted Baker Plc Monitor

Submitted by 671be8cb-63b1-4... on Wed, 2019-06-19 11:39

CR Monitor Issue:

2019/0617

Company covered:

Ted Baker Plc

Period End:

26 January, 2019

Report issued on 19 June 2019 covered the following practice issues:

£12.1m of costs have been presented as exceptional items. Costs relating to retail asset impairments have been reclassified from administrative to distribution exceptional costs.

Adoption of IFRS 9 Financial instruments and IFRS 15 Revenue from Contracts with Customers with effect from 1 January 2018.

Detailed disclosure in respect of the future impact of IFRS 16 Leases.

Acquisition of a footwear business for cash consideration of £20.3 million.

Disclosures on critical accounting judgements and key sources of estimation uncertainty are extended.

New key audit matters are included in the auditors’ report.

Croda International plc Monitor

Submitted by e0aa4410-014d-4... on Wed, 2019-06-19 07:14

CR Monitor Issue:

2019/0616

Company covered:

Croda International plc

Period End:

31 December, 2018

Report issued on 19 June 2019 covered the following practice issues:

The adoption of IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers from 1 January 2018 has had minimal impact.

Disclosure of expected impact of adopting IFRS 16 Leases from 1 January 2019.

The impact of equalisation of Guaranteed Minimum Pensions (GMP) for both men and women is disclosed.

Discussion on a new restricted share plan issued to employees.

Additional disclosure within the auditor’s report is discussed.