Aviva

Aviva plc Monitor

Aviva plc Annual Report 2017
CR Monitor Issue: 
2018/0818
Company covered: 
Aviva plc
Period End: 
31 December, 2017
Report issued on 28 August 2018 covered the following practice issues:
Change
Discussion of key audit matters included in auditors' report.
Pronouncements
Extended disclosure in respect of new standards not yet applicable including information in respect of IFRS 17 "Insurance contracts".
Change
Detailed disclosure in respect of business disposals.
Change
Amounts reclassified in relation to equity and expenses.
Change
Recognition of goodwill impairment.
Change
Alteration of segmental reporting structure to reflect reclassification of Irish business.

Fair value measurement information under IFRS

IFRS 13 “Fair value measurement” sets out a single consistent framework for measuring fair value within IFRS financial statements and outlines a standardised set of disclosures in respect of fair value measurements. IFRS 13 has been mandatory now for some years, with application being required for annual reporting periods beginning on or after 1 January 2013. This report sets out the results of how requirements of the standard have been put into practice, both in terms of measurement and disclosure, in the consolidated financial statements of 139 large public limited companies with year ends between 31 March 2016 and 1 April 2017. It is not an exhaustive study of all aspects of IFRS 13 application and its conclusions are limited to our findings in respect of the areas analysed within the financial statements reviewed.

Aviva plc Monitor

Aviva plc Annual Report 2017
CR Monitor Issue: 
2017/0712
Company covered: 
Aviva plc
Period End: 
31 December, 2016
Report issued on 25 July 2017 covered the following practice issues:
Restatement
Prior period correction recognised in respect of management charge rebates.
Pronouncements
Disclosure as per Solvency II capital adequacy regulation added on adoption.
Change
Enhancement of risk disclosure by inclusion of tabular presentation for risk preferences.
New
Introduction of a table showing principal risk trends.

Disclosure of the impacts of IFRS 16 "Leases"

IFRS 16 “Leases” will fundamentally change accounting by lessees as it requires assets previously off balance sheet under operating lease arrangements to be brought on balance sheet as is currently the case for finance leased assets. As a result on application companies will recognise both additional assets and additional liabilities. Consequently there will also be knock on effects in the income statement as operating lease charges are replaced by a depreciation charge and a finance expense. This report analyses the financial statements of a range of companies to firstly establish whether there has been any early adoption and secondly to establish what companies are disclosing in respect of IFRS 16 and its future impacts.

Impending Changes: Disclosure of IFRS 15 Impacts

This report focuses on the disclosures given by companies in respect of the impending impacts of the new revenue standard IFRS 15 “Revenue from contracts with customers”. It considers the level of detail given by companies to determine the standard of qualitative information that companies disclose in relation to future changes in accounting policy and to what extent to date we have seen companies give quantitative information as to the impact the standard will have when it is adopted.

Aviva plc Monitor

Aviva plc Annual Report 2014
CR Monitor Issue: 
2015/0502
Company covered: 
Aviva plc
Period End: 
31 December 2014
Report issued on 08 May 2015 covered the following practice issues:
Pronouncements
Clarification of offsetting rules leads to grossing up of comparative assets & liabilities, with no impact on equity.
Change
Expected effects of proposed major acquisition disclosed.
Change
Joint venture and related loans moved from assets held for sale on abandonment of disposal plan.
Pronouncements
Scope exclusions in impending revenue Standard discussed.

Aviva plc Period End 31 December 2010

Aviva plc Annual Report 2010
CR Monitor Issue: 
2012/0112
Company covered: 
Aviva plc
Period End: 
31 December 2010
Report issued on 27 January 2012 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Divergence
Pension costs reclassified on income statement, but net presentation retained.
Change
Gain realised on acquisition of former associate as fair value established by market consistent embedded value.
Change
Cash inflow from partial disposal with control retained moved from investing to financing activities on statement of cash flows.