Impact Of New Pronouncements

Randstad N.V. Monitor

Submitted by 671be8cb-63b1-4... on Tue, 2019-04-23 14:05

CR Monitor Issue:

2019/0416

Company covered:

Randstad N.V.

Period End:

31 December, 2018

Report issued on 23 April 2019 covered the following practice issues:

Adoption of IFRS 9 “Financial instruments” and IFRS 15 “Revenue from contracts with customers” from 1 January 2018.

Extended disclosure in respect of the expected impact of IFRS 16 “Leases”.

Additional disclosure in relation to the finalisation of purchase consideration for business combinations.

Disposal of subsidiary and recognition of impairment on goodwill and other intangible assets.

Disclosure in respect of tax transparency, tax strategy and dialogue with tax authorities, and additional disclosure in respect of provision for taxation.

Discussion on a new key audit matter included within the auditor’s report.

Deutsche Post AG Interims Monitor

Submitted by e0aa4410-014d-4... on Tue, 2019-04-23 12:29

CR Interim Monitor Issue:

2019/0417

Period End:

30 June 2018

Listing Status:

Europe 350

ICB Industry Classification:

2771 Delivery Services

Auditor:

PricewaterhouseCoopers

Adoption of IFRS 9 Financial Instruments from 1 January 2018, resulted in early recognition of loss allowance.

Impact on revenue recognition after adoption of IFRS 15 Revenue from Contracts with Customers.

Recognition of right-of-use assets and lease liabilities on adoption of IFRS 16 Leases.

Discussion on acquisitions made in the current period.

Kuehne + Nagel

Submitted by e0aa4410-014d-4... on Tue, 2019-04-23 11:16

CR Monitor Issue:

2019/0418

Company covered:

Kuehne + Nagel

Period End:

31 December, 2018

Report issued on 22 April 2019 covered the following practice issues:

Impact of adoption of IFRS 9 “Financial instrument” and IFRS 15 “Revenue from contract with customer” discussed in detail.

Extended discussion on the expected impact of IFRS 16 “Lease”.

A statement on the offset of deferred tax assets and liabilities in the statement of financial position.

Disclosure of a post balance sheet event, namely a share purchase transaction.

Disclosure of a new share-based payment plan.

Tate & Lyle Plc Interim Monitor

Submitted by 671be8cb-63b1-4... on Tue, 2019-04-23 10:46

CR Interim Monitor Issue:

2019/0419

Period End:

30 June 2018

Listing Status:

FTSE Mid 250

ICB Industry Classification:

3577 Food Products

Auditor:

Ernst & Young

The year-end balance sheet has been restated, predominantly as a result of changes introduced in reportable segment and on inclusion of net retirement benefit interest expense and the associated tax in its alternative performance measures.

Adopted IFRS 9 Financial Instruments and IFRS 15 Revenue from contracts with customers from 1 April 2018.

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

Halfords Group Plc Interim Monitor

Submitted by 671be8cb-63b1-4... on Tue, 2019-04-23 10:35

CR Interim Monitor Issue:

2019/0420

Period End:

28 September 2018

Listing Status:

FTSE Mid 250

ICB Industry Classification:

5379 Specialty Retailers

Auditor:

KPMG

IFRS 15 Revenue from contracts with customers adopted from 31 March 2018.

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

Reconciliations of alternative performance measures to IFRS figures presented.

Detailed disclosure of fair value measurements and the classification of financial instruments.

Koninklijke Philips NV Monitor

Submitted by 671be8cb-63b1-4... on Tue, 2019-04-16 11:56

CR Monitor Issue:

2019/0412

Company covered:

Koninklijke Philips NV

Period End:

31 December, 2018

Report issued on 16 April 2019 covered the following practice issues:

Recognition of a change in the segmental reporting structure including restatement of the prior year comparatives.

Adopted IFRS 9 Financial Instruments (IFRS 9) and IFRS 15 Revenue from contracts with customers (IFRS 15) from 1st 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.

Change in allocation of goodwill to cash generating units for impairment purpose.

A quantified sensitivity analysis regarding accounting estimates and judgements in respect of the fair value of contingent consideration payable has been included in the Report this year.

Disclosure in respect of post-balance sheet events has been included in the report.

Sodexo SA Monitor

Submitted by e0aa4410-014d-4... on Tue, 2019-04-16 09:42

CR Monitor Issue:

2019/0413

Company covered:

Sodexo SA

Period End:

31 August, 2018

Report issued on 16 April 2019 covered the following practice issues:

Change in presentation of income statement due to new ‘underlying operating profit’ measure.

Additional disclosure on the impact of new accounting standards including IFRS 9 Financial Instruments, IFRS 15 Revenue from contracts with customers and IFRS 16 Leases.

Additional disclosures made in respect of a business acquired during the year.

Additional disclosure on changes in shareholders ownership as required by the company’s by-laws.

Consumer expectation is disclosed as a new risk in the risk management report.

More details on the calculation of discount rates used in impairment testing have been provided.

McCarthy & Stone Plc Monitor

Submitted by 671be8cb-63b1-4... on Mon, 2019-04-15 15:20

CR Monitor Issue:

2019/0411

Company covered:

McCarthy & Stone Plc

Period End:

31 August, 2018

Report issued on 16 April 2019 covered the following practice issues:

Prior year comparative cash flow statement restated following an enquiry by the Financial Reporting Council (FRC).

Added disclosure as to the expected future impact of adopting IFRS 9 Financial Instruments

Added disclosure as to the expected future impact of adopting IFRS 15 "Revenue from contracts with customers"

Extended disclosure in respect of alternative performance measures.

Disclosure of a sensitivity analysis in relation to the assumptions applied when assessing goodwill for impairment.

SES SA Interims Monitor

Submitted by e0aa4410-014d-4... on Mon, 2019-04-15 15:15

CR Interim Monitor Issue:

2019/0415

Period End:

30 June 2018

Listing Status:

Europe 350

ICB Industry Classification:

9533 Computer Services

IFRS 9 Financial Instruments adopted, from 1 January 2018, including detailed disclosure of impact.

Adoption of IFRS 15 Revenue from Contracts with Customers resulted in changes in accounting policies.

Early adoption of IFRS 16 Leases resulting in recognition of lease liabilities and right of use assets.

Expected future impact of an amendment issued under IAS 19 Employee Benefits.

Pandora A/S Monitor

Submitted by e0aa4410-014d-4... on Mon, 2019-04-15 14:40

CR Monitor Issue:

2019/0414

Company covered:

Pandora A/S

Period End:

31 December, 2018

Report issued on 15 April 2019 covered the following practice issues:

Restatement of comparative amounts in the statement of financial position due to changes in disclosure requirements following adoption of IFRS 15 Revenue from Contracts with Customers.

Implementation of new disclosures following adoption of IFRS 9 Financial Instruments.

Extended disclosure on the future expected impacts of IFRS 16 Leases adoption.

Disclosure of a sensitivity analysis in respect of movements in currency rates and commodity prices.

Disclosure on acquisitions made after the balance sheet date.