Standard Life

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.

Standard Life plc Monitor

Standard Life plc Annual Report 2016
CR Monitor Issue: 
2017/0710
Company covered: 
Standard Life plc
Period End: 
31 December, 2016
Report issued on 25 July 2017 covered the following practice issues:
Change
New class of provisions raised in respect of liability linked to enhanced annuities.
Change
Business acquisition results in bargain purchase gain.
Change
Tabular presentation of principal risk factors extended to include two new risks in respect of Investment performance’ and ‘strategic transition and delivery.
Pronouncements
Capital management disclosures enhanced by inclusion of statement of compliance with the Solvency II regulatory regime.

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.

Intangible assets - Standard Life plc

Period End: 
31 December 2011
Period End Date: 
2011-12-31
Listing Status: 
FTSE 100, S&P Europe 350
ICB Industry Classification: 
8575 Life Insurance
Auditor: 
PricewaterhouseCoopers

Intangible assets other than goodwill under IFRS

This report, based on an examination of the IFRS financial statements of 28 large listed European companies, analyses the disclosure of intangible assets other than goodwill. Included is an examination of companies’ intangible asset disclosures both on the face of the primary financial statements and in the notes. Areas considered include the disclosure of intangible assets separately from goodwill on the face of the statement of financial position, amortisation related disclosures and the presentation of a reconciliation of movements. In addition an examination of the significance of intangible assets relative to total assets is performed.

Standard Life plc Period End 31 December 2010

Standard Life plc Annual Report 2010
CR Monitor Issue: 
2011/1202
Company covered: 
Standard Life plc
Period End: 
31 December 2010
Report issued on 14 December 2011 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Move from 'underlying profit' to 'operating profit' as non-GAAP measure of performance.
Restatement
Business classified as discontinued operation with income statement restated.
Change
Former reportable segments combined.
Change
Debt and equity investments disclosed separately on face of balance sheet.