Fresnillo plc Monitor

Fresnillo plc Annual Report 2018
CR Monitor Issue: 
Company covered: 
Fresnillo plc
Period End: 
31 December, 2018
Report issued on 20 June 2019 covered the following practice issues:
Adoption of IFRS 9 Financial Instruments, IFRS 15 Revenue from Contracts with Customers and IFRIC 22 Foreign Currency Transactions and Advance Considerations from 1 January 2018.
Extended disclosure in respect of the expected impact of IFRS 16 Leases and IFRIC 23 Uncertainty over Income Tax Treatments.
Disclosure of a new key audit matter in the audit report.

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.