IAS 28 'Investments in associates and joint ventures'

LafargeHolcim Ltd Monitor

LafargeHolcim Ltd Annual Report 2018
CR Monitor Issue: 
2019/0406
Company covered: 
LafargeHolcim Ltd
Period End: 
31 December, 2018
Report issued on 9 April 2019 covered the following practice issues:
Restatement
IAS 29 Financial Reporting in Hyperinflationary Economies has been applied to the Argentinian figures included in the consolidation.
Pronouncements
IFRS 15 Revenue from Contracts with Customers and IFRS 9 Financial Instruments at 1 January 2018: the Report discloses the expected impact of new standards as well as amendments to standards to be adopted in the 2019 and 2020 annual reports.
Change
The retirement benefit plan disclosure presenting the disaggregation of plan assets has changed from the prior year. Additional disclosure is provided on the recent High Court ruling on equal guaranteed minimum pensions in the UK.
Change
An additional product line has been included within segmental reporting.
Change
After a reassessment of strategy, two cement factories in China are no longer classified as held-for-sale.

Grainger Plc Monitor

Grainger Plc Annual Report 2018
CR Monitor Issue: 
2019/0202
Company covered: 
Grainger Plc
Period End: 
30 September, 2018
Report issued on 12 February 2019 covered the following practice issues:
Pronouncements
New 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”.
Pronouncements
Disclosure of expected impacts of amendment to IAS 40 "Investment property".
Change
Disclosure of information in regards to the disposal of a joint venture.
Change
Presentation of a reconciliation of movements in liabilities arising from financing activities following the adoption of an amendment to IAS 7 "Statement of cash flows".
Change
Disclosure in respect of events after the reporting period.

Barratt Developments plc Monitor

Barratt Developments plc Annual Report 2018
CR Monitor Issue: 
2018/1208
Company covered: 
Barratt Developments plc
Period End: 
30 June, 2018
Report issued on 11 December 2018 covered the following practice issues:
Change
Disclosure on new key audit matter included.
Pronouncements
Disclosure of the impact of new standards issued or amended but not yet adopted including IFRS 15 “Revenue from Contracts with Customers”, IFRS 9 “Financial Instruments” and IFRS 16 “Leases”.
New
Disclosure of sensitivity analysis performed.
Change
Disclosure regarding impairment of assets by associate and recognition of a related loss.

Phoenix Group Plc Monitor

Phoenix Group Plc Annual Report 2017
CR Monitor Issue: 
2018/1111
Company covered: 
Phoenix Group Plc
Period End: 
31 December, 2017
Report issued on 20 November 2018 covered the following practice issues:
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
Reclassification of collective investment schemes from Level 2 to Level 1 of the fair value hierarchy.
Change
Extended discussion of accounting estimates and judgements including extended disclosure of critical accounting judgements.
Pronouncements
Extended disclosure in respect of the impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenue from contracts with customers", , and IFRS 17 “Insurance contracts”.

BASF SE Monitor

BASF SE Annual Report 2017
CR Monitor Issue: 
2018/0804
Company covered: 
BASF SE
Period End: 
31 December, 2017
Report issued on 07 August 2018 covered the following practice issues:
Change
Discussion of key audit matters included in audit report.
Change
Separate disclosure of director and auditor responsibilities in the audit report.
Pronouncements
Extended disclosures relating to the impacts of accounting standards, not yet effective including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Pronouncements
Introduction of reconciliation showing movements in liabilities arising from financing activities following adoption of amendment to IAS 7 "Statement of cash flows".
Restatement
Restatement of prior year segmental breakdown.

Vodafone Group Plc Monitor

Vodafone Group Plc Annual Report 2017
CR Monitor Issue: 
2018/0315
Company covered: 
Vodafone Group Plc
Period End: 
31 March, 2017
Report issued on 27 March 2018 covered the following practice issues:
Change
Subsidiary classified as a discontinued operation following announcement of a plan to contribute it to a newly formed joint venture.
Change
Change in functional currency from pounds sterling to euro.
Change
Reclassification of goodwill to investment in joint venture.
Change
Gain recognised on disposal of subsidiary to a newly formed joint venture.
Change
Post balance sheet disclosure of the transfer of an associated undertaking.
Pronouncements
Disclosure of non-quantified information as to the future impact of IFRS 16.

Antofagasta plc Monitor

Antofagasta plc Annual Report 2016
CR Monitor Issue: 
2017/1108
Company covered: 
Antofagasta plc
Period End: 
31 December, 2016
Report issued on 21 November 2017 covered the following practice issues:
Change
Exceptional items including impairments highlighted separately on the face of the income statement by way of a multi-column format.
Change
Results of subsidiary disposed disclosed separately as a discontinued operation.
Change
Disclosure of negative investment in joint venture.
Change
Presentation of deferred tax assets by reporting segment.
Change
Tabular disclosure of principal risks includes new risk factor in respect of "Corruption activities".
Pronouncements
Quantified disclosure of the expected impact of new leasing standard.

The Sage Group plc Monitor

The Sage Group plc Annual Report 2016
CR Monitor Issue: 
2017/0707
Company covered: 
The Sage Group plc
Period End: 
30 September, 2016
Report issued on 17 July 2017 covered the following practice issues:
Change
Designation as "Exceptional (non-recurring) items" identified as a significant accounting and reporting matter in corporate governance report.
Change
'Changes in finance systems and processes' identified as a risk of material misstatement by auditors.
Pronouncements
Un-quantified disclosure added regarding impact of impending revenue recognition standard.
Change
Newly acquired 20.7% holding in investment accounted for as an associate using the equity method.
New
Flowchart added to directors remuneration report showing amended conditions attached to performance share plan.
New
Directors remuneration report enhanced by inclusion of remuneration at a glance section.

Pearson plc Monitor

Pearson plc Annual Report 2015
CR Monitor Issue: 
2016/1006
Company covered: 
Pearson plc
Period End: 
31 December, 2015
Report issued on 9 October 2016 covered the following practice issues:
Change
Impairment loss disclosed as a separate line item in the income statement.
Change
Business disposal results in significant profit.
Change
Identification of four new principal risks as a result of robust risk assessment.
New
Restructuring programme identified as post balance sheet event.

Euromoney Institutional Investor plc Monitor

Euromoney Institutional Investor plc Annual Report 2015
CR Monitor Issue: 
2016/0511
Company covered: 
Euromoney Institutional Investor plc
Period End: 
30 September, 2015
Report issued on 31 May 2016 covered the following practice issues:
Change
Judgements relating to an acquisition made in April 2013 revised, on identification of irregularities.
Change
Profit on disposal limited on transfer of available for sale investment to associate.
New
Funds held by related party identified separately on the face of the statement of financial position.
Restatement
Restatement to receivables and deferred subscription revenues.
New
Goodwill impairments treated as exceptional.