Hiscox

Hiscox Ltd Monitor

Hiscox Ltd Annual Report 2017
CR Monitor Issue: 
2018\0613
Company covered: 
Hiscox Ltd
Period End: 
31 December, 2017
Report issued on 17 July 2018 covered the following practice issues:
Pronouncements
Disclosure enhanced in relation to impact of IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 17 "Insurance contracts".
Restatement
Restatement of cash flow amount from operating activities to investing activities.
Restatement
Restatement in presentation of investment results to exclude investment management fees.
Change
Extended disclosure of principal risk factors.
Change
Profit and cash flow information disclosed in respect of operations disposed.
Change
Disclosure of change in reporting currency.

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.

Auditor's fee disclosures

This report focuses on companies’ disclosures of the fees paid to auditors both for audit and non-audit services. It considers specifically the presentation format by which companies analyse audit services received and fees paid in their respect. 

Eurozone: risk disclosures

This report focuses on companies’ disclosures of risks specifically considering information presented relating to the ramifications of the ongoing financial problems faced by the Eurozone as a whole and of a number of individual states within. This report focuses on the nature of the risks arising and the format of company disclosures.   

Hiscox Ltd

Hiscox Ltd Annual Report 2011
CR Monitor Issue: 
2012/0508
Company covered: 
Hiscox Ltd
Period End: 
31 December 2011
Report issued on 25 May 2012 did not identify any changes with significant impacts on the financial statements but covered the following practice issues:
Change
Additional disclosures on availability of profits for overseas tax losses and origin of permanent difference.
Change
Credit exposures to government issued and supported debt analysed.
Change
Software and development costs disclosed in separate column from other intangible assets.
Divergence
Unexplained restatement of assumption on fair valuation of share options and awards.
Change
Auditors' remuneration reclassified on adoption of new UK regulations.