New Practice

Barratt Developments plc Monitor

Barratt Developments plc Annual Report 2018
CR Monitor Issue: 
2018/1208
Company covered: 
Barratt Developments plc
Period End: 
30 June, 2018
Report issued on 11 December 2018 covered the following practice issues:
Change
Disclosure on new key audit matter included.
Pronouncements
Disclosure of the impact of new standards issued or amended but not yet adopted including IFRS 15 “Revenue from Contracts with Customers”, IFRS 9 “Financial Instruments” and IFRS 16 “Leases”.
New
Disclosure of sensitivity analysis performed.
Change
Disclosure regarding impairment of assets by associate and recognition of a related loss.

UK Commercial Property Trust Limited

UK commercial Property Annual Report 2017
CR Monitor Issue: 
2018/0916
Company covered: 
UK commercial Property
Period End: 
31 December, 2017
Report issued on 24 September 2018 covered the following practice issues:
New
Sustainability reporting section added to annual report.
Change
Separate sections included in audit report discussing responsibilities of directors and auditors.
Change
Disclosure of plan to adopt Real Estate Investment Trust status to mitigate announced tax changes.
Change
Risk disclosures extended to include disclosure of risks linked to the investment manager.

Inmarsat plc Monitor

Inmarsat plc Annual Report 2017
CR Monitor Issue: 
2018/0919
Company covered: 
Inmarsat plc
Period End: 
31 December, 2017
Report issued on 25 September 2018 covered the following practice issues:
Change
Discussion of key audit matter included in audit report.
Change
Separate sections outlining director and auditor responsibilities included in auditors' report.
Pronouncements
Extended disclosure in respect of the impacts of new accounting standards including IFRS 15 "Revenues from contracts with customers", IFRS 16 "Leases", IFRS 9 "Financial instruments", IFRIC 22 “Foreign Currency Transactions and Advance Consideration” and IFRIC 23 “Uncertainty over Income Tax Treatments”.
Pronouncements
Disclosure of a reconciliation of movements in liabilities arising from financing activities.
Change
Additional restructuring charge line included on the face of the income statement.
Change
Introduction of a separate section discussing alternative performance measures.

Dairy Crest Group plc Monitor

Dairy Crest Group plc Annual Report 2017-18
CR Monitor Issue: 
2018/0913
Company covered: 
Dairy Crest Group plc
Period End: 
31 March, 2018
Report issued on 17 September 2018 covered the following practice issues:
Change
Discussion on a new key audit matter included in audit report.
Change
Separate sections outlining director and auditor responsibilities included in auditors' report.
Change
Change in inflation index assumption results in a reduction in pension obligations.
Change
Introduction of a separate section discussing alternative performance measures.
Change
Extended disclosure of principal risks.

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.