Accounting estimates and judgements

Sanne Group Plc Monitor

Sanne Group Plc Annual Report 2018
CR Monitor Issue: 
2019/0509
Company covered: 
Sanne Group Plc
Period End: 
31 December, 2018
Report issued on 13 May 2019 covered the following practice issues:
Restatement
Prior year figures restated to correct accounting errors made in respect of goodwill arising on acquisitions.
Restatement
Change to the presentation of the alternative performance measure of diluted underlying earnings per share.
Pronouncements
Adopted IFRS 15 Revenue from Contracts with Customers (IFRS 15) and IFRS 9 Financial Instruments (IFRS 9), from 1 January 2018.
Change
Disclosure on new key audit matters included in the auditors’ report.
Change
Critical accounting judgements and key sources of estimation uncertainty disclosures are extended to include additional information.
Change
Disclosures provided for post balance sheet events.

The Renewables Infrastructure Group Limited Monitor

The Renewables Infrastructure Group Limited Annual Report 2018
CR Monitor Issue: 
2019/0507
Company covered: 
The Renewables Infrastructure Group Limited
Period End: 
31 December, 2018
Report issued on 10 May 2019 covered the following practice issues:
Pronouncements
IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers have been adopted from 1 January 2018.
Change
Audit report enhanced by inclusion of a diagram illustrating the application of materiality.
Change
A new area of judgement is identified this year.
Change
Additional disclosure within sensitivity analysis of financial instruments.

Elementis plc Monitor

Elementis plc Annual Report 2018
CR Monitor Issue: 
2019/0425
Company covered: 
Elementis plc
Period End: 
31 December, 2018
Report issued on 29 April 2019 covered the following practice issues:
Restatement
A change in reporting segments results in the restatement of comparative period figures.
Restatement
Comparative Earnings per share (EPS) is restated following a shares rights issue.
Pronouncements
IFRS 9 Financial Instruments is adopted from 1 January 2018 on a retrospective basis.
Pronouncements
A new revenue recognition policy is implemented following the adoption of IFRS 15 Revenue from Contracts with Customers.
Pronouncements
The expected impact of adopting IFRS 16 Leases is disclosed.
Change
The disposal of a business previously classified as a discontinued operation is completed.

Koninklijke Philips NV Monitor

Koninklijke Philips NV Annual Report 2018
CR Monitor Issue: 
2019/0412
Company covered: 
Koninklijke Philips NV
Period End: 
31 December, 2018
Report issued on 16 April 2019 covered the following practice issues:
Restatement
Recognition of a change in the segmental reporting structure including restatement of the prior year comparatives.
Pronouncements
Adopted IFRS 9 Financial Instruments (IFRS 9) and IFRS 15 Revenue from contracts with customers (IFRS 15) from 1st January 2018.
Pronouncements
Disclosures included in respect of the future impact of IFRS 16 Leases effective for accounting periods starting on or after 1 January 2019.
Change
Change in allocation of goodwill to cash generating units for impairment purpose.
Change
A quantified sensitivity analysis regarding accounting estimates and judgements in respect of the fair value of contingent consideration payable has been included in the Report this year.
Change
Disclosure in respect of post-balance sheet events has been included in the report.

Crest Nicholson Holdings Plc Monitor

Crest Nicholson Holdings plc Annual Report 2018
CR Monitor Issue: 
2019/0408
Company covered: 
Crest Nicholson Holdings plc
Period End: 
31 October, 2018
Report issued on 09 April 2019 covered the following practice issues:
Pronouncements
Additional disclosures have been made in the Report on the impact of IFRS 9 Financial Instruments, IFRS 15 Revenue from Contracts with Customers and IFRS 16 Leases.
Change
A retirement benefit surplus and contingencies related to guaranteed minimum pension amounts have been recognised in the Report and further details disclosed.
Change
A quantified sensitivity analysis regarding key accounting estimates and judgments has been included in the Report this year.

Greencore Group Plc Monitor

Greencore Group Plc Annual Report 2018
CR Monitor Issue: 
2019/0405
Company covered: 
Greencore Group Plc
Period End: 
28 September, 2018
Report issued on 2 April 2019 covered the following practice issues:
Restatement
Disclosure made in respect of discontinued operations with restatement of comparative information.
Change
Discussion of key audit matters included in the audit report.
Change
Detailed and additional disclosures relating to accounting estimates and judgement.
Pronouncements
additional information in respect of the impact of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers” and IFRS 16 “leases”.
Change
Deferred tax changes recognised following changes to US tax legislation.
Change
Disclosure regarding contingencies related to the Guaranteed Minimum Pension.

Euromoney Institutional Investor plc Monitor

Euromoney Institutional Investor plc Annual Report 2018
CR Monitor Issue: 
2019/0314
Company covered: 
Euromoney Institutional Investor plc
Period End: 
30 September, 2018
Report issued on 19 March 2019 covered the following practice issues:
Pronouncements
Additional disclosure in respect of the impact of new accounting standards including IFRS 9 “Financial instruments”, IFRS 15 “Revenue from contracts with customers” and IFRS 16 “leases”.
Change
Detailed discussion on the new key audit matter added in the auditor’s report.
Restatement
Change in methodology for allocation of corporate cost along with restatement of comparative figures.
Change
Deferred tax changes recognised following changes to US tax legislation.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of an amendment to IAS 7 "Statement of cash flows".
Change
Extended disclosure in respect of contingent liabilities.

Imperial Brands Plc Monitor

Imperial Brands Plc Annual Report 2018
CR Monitor Issue: 
2019/0313
Company covered: 
Imperial Brands Plc
Period End: 
30 September, 2018
Report issued on 19 March 2019 covered the following practice issues:
Pronouncements
Additional disclosure in respect of the impact of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers” and IFRIC 23 “Uncertainty over income tax treatments”.
Change
Extended disclosure in relation to key judgement made in respect of consolidation of subsidiary.
Change
Disclosure made in respect of post balance sheet events.
Change
Detailed discussion of two new key audit matters added to the auditor’s report.
Change
Disclosure of a proposed change in the segmental reporting structure
Change
Provisional values finalised in respect of business acquired in previous year and information in respect of acquisition made during the year.

Sky Limited Monitor

Sky Limited Annual Report 2018
CR Monitor Issue: 
2019/0306
Company covered: 
Sky Limited
Period End: 
30 June, 2018
Report issued on 12 March 2019 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the expected future impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers" and IFRS 16 "Leases".
Change
Change in segmental reporting information with restatement of comparative information.
Change
Change in accounting estimates regarding 'sports-rights off season allocation'.
Change
Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of an amendment to IAS 7 "Statement of cash flows".
Change
Disclosure of the sensitivity analysis in respect of changes in impairment test assumptions.

Lonmin plc Monitor

Lonmin plc Annual Report 2018
CR Monitor Issue: 
2019/0303
Company covered: 
Lonmin plc
Period End: 
30 September, 2018
Report issued on 05 March 2019 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the expected future impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers", and IFRS 16 "Leases".
Change
Calculation of goodwill linked to step acquisition takes into account fair value of previously held interests.
Change
Assets classified as held for sale disclosed separately on the face of balance sheet.
Change
Extended disclosure of accounting estimates and judgements includes a sensitivity analysis.