Convatec Group

Convatec Group plc Monitor

Convatec Group plc  Annual Report 2017
CR Monitor Issue: 
Company covered: 
Convatec Group plc
Period End: 
31 December, 2017
Report issued on 20 November 2018 covered the following practice issues:
Extended disclosure in respect of the impacts of new accounting standards including IFRS 16 "Leases", IFRS 15 "Revenue from contracts with customers", and IFRS 9 "Financial instruments".
Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of amendment to IAS 7 "Statement of cash flows".
Disclosure of reduction in corporate income tax rate.
Disclosure of main risks linked to defined benefit pension scheme.
Detailed disclosure in respect of business acquisitions made during the year.
Restatement of comparative figures in relation to compensation paid to key management personnel.

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.