SGS

SGS SA Monitor

SGS SA Annual Report 2017
CR Monitor Issue: 
2018/0404
Company covered: 
SGS SA
Period End: 
31 December,2017
Report issued on 4 April 2018 covered the following practice issues:
Pronouncements
Disclosure of future impacts of new standards including quantification in respect of IFRS 9 "Financial instruments".
Change
Extended risk disclosures
New
Tabular disclosure in respect of sustainable development.

Joint Arrangements: An emerging issue under IFRS

This report focuses on the financial reporting by entities that have an interest in arrangements which are controlled jointly with another party, in light of the requirements of IFRS 11 “Joint arrangements”. It covers company application of the concept of joint control taking into account the guidance given by IFRS to companies to determine whether arrangements fall within the scope of IFRS 11. It further covers the review undertaken by companies based on the rights and obligations held to determine whether the joint arrangements that exist are considered joint ventures or joint operations and the subsequent accounting of such arrangements in line with the equity accounting method as per IAS 28 “Investments in associates and joint ventures” or of the entities proportionate share of assets, liabilities, revenue and expenses respectively. Finally it considers the financial and presentational impacts of IFRS 11 adoption.   

Pensions - SGS SA

Period End: 
31 December 2010
Period End Date: 
2010-12-31
Listing Status: 
S&P Europe 350
ICB Industry Classification: 
2791 Business Support Services
Auditor: 
Deloitte

Accounting for Joint Ventures under IFRS

This report considers recent corporate reporting of joint ventures by a sample drawn from 24 large, listed European companies, supplemented by Company Reporting data and comment. All companies report under IFRS, following European Union requirements. We highlight the accounting methods employed by the companies in our sample. We also comment on company joint venture disclosure practice. 

Accounting for business combinations under IFRS

Focusing on a sample drawn from 24 large listed European companies that report under IFRS, supplemented by Company Reporting data and comment, this report analyses company disclosures in relation to assets acquired and liabilities assumed with particular attention paid to intangible assets. Secondly, it draws on the disclosures provided regarding the reasons why company goodwill arises. A further area of interest is the treatment of non-controlling interests.

Critical judgements and estimates under IFRS

This report focuses on a sample drawn from 24 large listed European companies and reviews the following: a) whether a company discloses key estimates and other significant judgements and the location of the disclosure is; b) whether disclosures of significant judgements other than those involving estimation and key sources of estimation uncertainty are both made; c) the length of the disclosures and d) the areas covered in terms of key sources of estimation uncertainty. 

Share-based payments under IFRS

This report focuses on a sample drawn from 24 large listed European companies and reviews to what extent a company discloses: how options granted during the period are fair valued, including the option pricing models and assumptions used; and the nature and extent of option schemes, as required by IFRS 2. It also includes a survey of the option pricing models used by companies.

Pensions under IFRS

This report focuses on a sample drawn from 24 large listed European companies and considers recent corporate reporting of pensions. Within this wide area, we first identify 22 companies which have defined benefit schemes and then focus on disclosure of recent expected rates of return on pension assets by country and asset class, and mortality assumptions.

Impairment tests under IFRS

This report focuses on a sample drawn from 24 large listed European companies and analyses impairment test disclosures with particular attention being paid to goodwill and other intangibles with indefinite useful lives. Firstly, it considers the allocation of assets to cash-generating units (CGUs). Secondly, it examines assumptions made such as cash flow projections, discount rates and growth rates. Finally, it considers the sensitivity of these assumptions to change.