Givaudan

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.

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.

Givaudan SA Monitor

Givaudan SA Annual Report 2016
CR Monitor Issue: 
2017/00505
Company covered: 
Givaudan SA
Period End: 
31 December, 2016
Report issued on 09 May 2017 covered the following practice issues:
Pronouncements
Early adoption of IFRS 9 results in a profit reduction following reclassification of available for sale investments as at fair value through profit and loss.
Pronouncements
Disclosure of key audit matters in the auditors report.
Restatement
Segment information restated to show separately by segment property plant and equipment and intangible assets obtained as a result of business acquisitions.

Givaudan SA Monitor

Givaudan SA Annual Report 2015
CR Monitor Issue: 
2016/0807
Company covered: 
Givaudan SA
Period End: 
31 December, 2015
Report issued on 23 August 2016 covered the following practice issues:
Change
Settlement of a defined benefit plan resulting in one-time gain.
Change
Enhanced disclosure of directors remuneration
Pronouncements
Probable impact of new Financial instruments standard disclosed.
Change
Provision recognised in respect of environmental obligation previously identified as a contingent liability,

Givaudan SA Monitor

Givaudan SA Annual Report 2012
CR Monitor Issue: 
2013/0314
Company covered: 
Givaudan SA
Period End: 
31 December 2012
Report issued on 21 March 2013 covered the following practice issues:
Pronouncements
Revised IAS 19 will decrease equity by 11.2%.
Change
Amortisation of intangibles allocated by function on income statement.
Change
Change in segmental measure of performance.