Mondi plc Monitor

Mondi plc Annual Report 2017
CR Monitor Issue: 
Company covered: 
Mondi plc
Period End: 
31 December, 2017
Report issued on 20 November 2018 covered the following practice issues:
Dis-aggregation of gross cash receipts and gross cash payments arising from financing activities.
Discussion of key audit matters included in audit report.
Changes made to internal segmental reporting structure.
Inclusion of two subsidiaries as material non-wholly-owned subsidiary which were previously disclosed as immaterial subsidiaries with non-controlling interests.
Disclosure of nature and financial effect of material non-adjusting post balance sheet event.
Extended disclosure in respect of alternative performance measures.

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.