Segment disclosures and the chief operating decision maker under IFRS

This report sets out our findings in respect of a review of the IFRS segment disclosures of 25 UK listed companies, drawn from a range of different industries, as covered by IFRS 8 “Operating segments”. We consider a number of points including disclosures in respect of the chief operating decision maker, the factors used to identify reportable segments and whether there has been aggregation of operating segments and income statement and statement of financial position information reported by segment.

Brexit Disclosures in Listed Company Annual reports

The referendum vote to leave the European Union (EU) has undoubtedly led to uncertainty for business and will potentially have far reaching impacts for companies from many different industries. This report, pulled together in March 2017, focuses on the information that companies have disclosed within their annual reports during the latter half of 2016. It sets out disclosures around risk as well as the disclosure of Brexit impacts which have already been felt and the resulting ramifications.

Operating Lease disclosures under IFRS

This report sets out our findings in respect of a review of the operating lease disclosures when acting as lessee of 35 companies listed on the London stock exchange. We consider a number of points including the disclosure, as currently governed under IFRS by IAS 17 “Leases”, of total future minimum lease payments focusing on the assets identified and the time periods presented; disclosure of minimum sublease payments expected to be received; disclosure of lease and sublease payments recognised in the period; and disclosure of the general terms of significant leasing arrangements including contingent rent payable basis, the existence and terms of renewal or purchase options and escalation clauses and restrictions imposed by lease arrangements such as those concerning dividends, additional debt and further leasing. 

Wolseley plc Monitor

Wolseley plc Annual Report 2016
CR Monitor Issue: 
Company covered: 
Wolseley plc
Period End: 
31 July, 2016
Report issued on 21 February 2017 covered the following practice issues:
Amounts payable in respect of taxes and social security included in financial instrument liquidity risk maturity analysis.
Cash & cash equivalents and bank loans & overdrafts presented on net basis.
"New competitors and technology" identified as a principal risk.
Graphical presentations showing application of materiality and scope of audit are introduced.

Other comprehensive income under IFRS

This report, based on an examination of the IFRS financial statements of 30 large global listed companies, analyses the presentation of components of other comprehensive income. Included is an examination of whether companies disclose each component classified by nature. Considered also is the disclosure of related tax impacts, reclassifications to profit or loss and the impact of other comprehensive income items on equity components.  

Income statement format under IFRS

This report establishes through an analysis of the financial statements of 30 large global listed companies whether companies more commonly present a single statement of comprehensive income or an income statement and a separate statement showing components of other comprehensive income. Considered also is the presentation format adopted for expenses and the presentation of manditory items such as revenue, finance costs, share of the profit or loss of associates and joint ventures accounted for using the equity method, tax expense and the total result from discontinued operations.

Accounting policies - Wolseley plc

Period End: 
Period End Date: 
Listing Status: 
FTSE 100, S&P Europe 350
ICB Industry Classification: 
2797 Industrial Suppliers

Financial Risk Disclosures of Non Financial Companies under IFRS

This report analyses companies’ disclosures in respect of three types of financial risk. Areas covered are credit risk, liquidity risk and market risk factors such as exchange rate movement, interest rate movement and commodity price movement. Our analysis is based on an examination of the IFRS financial statements of 21 large listed European non financial companies.