Inconsistency With Rules

Sky plc Monitor

Sky plc Annual Report 2016
CR Monitor Issue: 
2017/0603
Company covered: 
Sky plc
Period End: 
3 July, 2016
Report issued on 06 June 2017 covered the following practice issues:
Change
"Brexit" identified within principal risk disclosures.
Change
Disclosure of non-compliance with the UK Corporate Governance Code.
Change
Disclosure of the introduction of clawback provisions in respect of directors remuneration.
Change
Disclosure of discontinued operations extended to include fair value gain on retained interest.
Change
Financial statements presented for 53 week period.
Pronouncements
Discussion of the impacts of new leasing and revenue standards.

Ophir Energy plc Monitor

Ophir Energy plc Annual Report 2015
CR Monitor Issue: 
2016/1207
Company covered: 
Ophir Energy plc
Period End: 
31 December, 2015
Report issued on 19 December 2016 covered the following practice issues:
New
Disclosure on business combinations including fair values of net assets acquired.
New
Computation of Gross profit reflected in the income statement for the first time this year following business combination.
Inconsistent
Summarised joint venture information disclosed not fully in line with IFRS.
New
Impairment recognised in relation to newly acquired oil and gas properties.
New
Capital instrument disclosures extended to reflect information on interest bearing bank loans and bonds.
Change
Financial instrument disclosures extended to include information on contractual maturities of non-derivative financial liabilities.

Grafton Group plc Monitor

Grafton Group plc Annual Report 2015
CR Monitor Issue: 
2016\1108
Company covered: 
Grafton Group plc
Period End: 
31 December, 2015
Report issued on 22 November 2016 covered the following practice issues:
Change
Material operating items recognised highlighted as non-recurring in a separate note.
Pronouncements
New non-audit services policy linked to change in regulation.
New
Geographic entity wide segment information extended to include the Netherlands following a business acquistion.
Inconsistent
Segment geographic measure of assets not in line with IFRS requirements.
Change
Policy statement in respect of supplier rebate arrangements disclosed for the first time despite prior year relevance.
Inconsistent
Intangible asset amortisation life not disclosed separately for each class of intangible asset.

Booker Group plc Monitor

Booker Group plc Annual Report 2016
CR Monitor Issue: 
2016/1106
Company covered: 
Booker Group plc
Period End: 
25 March, 2016
Report issued on 14 November 2016 covered the following practice issues:
Change
Business combination consideration expressed on both a cash/debt free basis and a total cash consideration basis.
Change
Goodwill on business combination attributed to improved cost price synergies and logistic efficiencies.
Change
Acquisition accounting identified as a new audit risk area of material misstatement.
Change
Introduction of revised non-audit service policy.
Restatement
Financial instrument disclosures restated to exclude accruals and deferred income.

Mitie Group plc Monitor

Mitie Group plc Annual Report 2016
CR Monitor Issue: 
2016/1004
Company covered: 
Mitie Group plc
Period End: 
31 March, 2016
Report issued on 10 October 2016 covered the following practice issues:
Change
New table published disclosing the impact of principal risks on its strategic aims.
New
Recognition of impairment loss due to discontinuance of contracts.
Pronouncements
Viability statement published looking ahead for three years.
Inconsistent
No reference to restatement of prior year segmental information following change in segmental reporting structure.

JD Sports Fashion Plc Monitor

JD Sports Fashion Plc Annual Report 2016
CR Monitor Issue: 
2016/0906
Company covered: 
JD Sports Fashion Plc
Period End: 
30 January, 2016
Report issued on 20 September 2016 covered the following practice issues:
Divergence
Unexplained restatement in financial instrument fair values table.
Inconsistent
Reason for re-categorisation from Level 3 to Level 2 of valuation hierarchy not disclosed.
Pronouncements
Viability statement looking forward for five years presented.
New
IFRS 3 disclosures presented in respect of post balance sheet business combination.