New Practice

Hunting PLC Monitor

Hunting PLC Annual Report 2017
CR Monitor Issue: 
2018/0801
Company covered: 
Hunting PLC
Period End: 
31 December, 2017
Report issued on 7 August 2018 covered the following practice issues:
Change
Audit report includes separate sections discussing director and auditor responsibilities.
Pronouncements
Extended disclosure in respect of the impacts of new accounting standards: IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Restatement
Restatement of segmental information linked to change in management structure.
Change
Change in disclosure of directors remuneration policy including separate disclosure of performance metrics.
Restatement
Restatement of fair value disclosures.

Telenor ASA Monitor

Telenor ASA Annual Report 2017
CR Monitor Issue: 
2018/0802
Company covered: 
Telenor ASA
Period End: 
31 December, 2017
Report issued on 07 August 2018 covered the following practice issues:
Change
Discontinued operations line disclosed separately on the face of the income statement.
Pronouncements
Extended disclosure as to the future impacts of new accounting standards IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Pronouncements
Reconciliation of movements in interest liabilities presented following adoption of amendment to IAS 7 "Statement of cash flows".
Change
Discussion of a new key audit matter linked to discontinued operations included in the auditor’s report.
Restatement
Restatement of segmental reporting disclosures following transfer of businesses between segments.
Change
Extended disclosure in respect of joint ventures and associated undertakings showing an analysis of disposals.

Legal & General Group plc Monitor

Legal & General Group plc Annual Report 2017
CR Monitor Issue: 
2018/0717
Company covered: 
Legal & General Group plc
Period End: 
31 December, 2017
Report issued on 24 July 2018 covered the following practice issues:
Change
Detailed disclosure in respect of business classified as discontinued operation.
Pronouncements
Disclosure of the impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers", IFRS 16 "Leases" and IFRS 17 "Insurance contracts".
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of amendment to IAS 7 "Statement of cash flows".
Restatement
Amounts reclassified from cash and cash equivalents to financial investments following an assessment of their maturity.
Change
Segmental reporting information restated following reclassification of business as a discontinued operation.
Change
Reverse repurchase agreements reclassified as financial assets.

Hiscox Ltd Monitor

Hiscox Ltd Annual Report 2017
CR Monitor Issue: 
2018\0613
Company covered: 
Hiscox Ltd
Period End: 
31 December, 2017
Report issued on 17 July 2018 covered the following practice issues:
Pronouncements
Disclosure enhanced in relation to impact of IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 17 "Insurance contracts".
Restatement
Restatement of cash flow amount from operating activities to investing activities.
Restatement
Restatement in presentation of investment results to exclude investment management fees.
Change
Extended disclosure of principal risk factors.
Change
Profit and cash flow information disclosed in respect of operations disposed.
Change
Disclosure of change in reporting currency.

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.

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.

Nestle S.A. Monitor

Nestle S.A. Annual Report 2017
CR Monitor Issue: 
2018/0608
Company covered: 
Nestle S.A.
Period End: 
31 December, 2017
Report issued on 12 June 2018 covered the following practice issues:
Pronouncements
Disclosure of discussion in respect of IFRIC 23 "Uncertainty over income tax treatments".
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities on adoption of an amendment to IAS 7 "Statement of cash flows".
Restatement
Change in segment reporting structure results in prior year restatement.
Change
Disclosure of information in respect business acquisition completed after the balance sheet date.
New
Insertion of a new tabular disclosure on trade and other payables by type.