Soco International

SOCO International plc Monitor

SOCO International plc Annual Report 2016
CR Monitor Issue: 
2017/0903
Company covered: 
SOCO International plc
Period End: 
31 December, 2016
Report issued on 05 September 2017 covered the following practice issues:
Change
Impairments accounting policy extended to include disclosure of impairment indicators in respect of exploration and evaluation assets.
Change
Audit report enhanced by inclusion of summary of audit approach and tabular disclosure in respect of materiality.
Change
Geographic breakdown added in respect of exploration and evaluation intangible assets.
Change
Human resource, climate change, and cyber risk identified as new areas of principal risk.
New
Introduction of diagram showing risk management structure within risk management report section of the strategic report.

SOCO International plc Monitor

SOCO International plc Annual Report 2015
CR Monitor Issue: 
2016/0909
Company covered: 
SOCO International plc
Period End: 
31 December, 2015
Report issued on 27 September 2016 covered the following practice issues:
Change
Contingent consideration fair valued using non-observable market data reclassified as current asset.
Change
Enhanced clarity of disclosure in respect of audit risk areas of material misstatement.
New
Discussion of risk of material misstatement introduced in respect of contingent consideration receivable.
Pronouncements
Complete list of subsidiary undertakings is disclosed.
New
Graphical presentation introduced to describe the procedure of assessing Board’s independence.