Financial statements format

Standard Chartered plc Monitor

Standard Chartered Annual Report 2017
CR Monitor Issue: 
2018/0612
Company covered: 
Standard Chartered plc
Period End: 
31 December, 2017
Report issued on 19 June 2018 covered the following practice issues:
Change
Discussion of key audit matters included in auditors' report.
Change
Change in balance sheet format including inclusion of extra line items.
Pronouncements
Detailed disclosure of expected impact of IFRS 9 "Financial instruments" including quantification.
Pronouncements
Introduction of a reconciliation of movements in liabilities arising from financing activities on adoption of amendment to IAS 7 "Statement of cash flows".
Restatement
Recognition of prior year adjustment in respect of contingent liabilities and commitments.

Schroders plc Monitor

Schroders plc Annual Report 2017
CR Monitor Issue: 
2018/0610
Company covered: 
Schroders plc
Period End: 
31 December, 2017
Report issued on 12 June 2018 covered the following practice issues:
Pronouncements
Enhanced disclosure in relation to new standards not yet effective namely, IFRS 15 "Revenues from contracts with customers", IFRS 9 "Financial instruments", and IFRS 16 "Leases".
Change
Extended disclosure in audit report in respect of directors and auditors responsibilities.
Change
Changes in key performance indicators.
Change
Extended analysis included in financial assets note.
Change
Property plant and equipment analysed by type.

Zurich Insurance Group Ltd Monitor

Zurich Insurance Annual Report 2017
CR Monitor Issue: 
2018/0505
Company covered: 
Zurich Insurance
Period End: 
31 December 2017
Report issued on 01 May 2018 covered the following practice issues:
Change
Presentation changes made in the financial statements including reclassifications.
Pronouncements
Disclosure of discussion in respect of new accounting standards IFRS 9, IFRS 16 and IFRS 17.
Change
Changes made to segment reporting.

Carlsberg ASA Monitor

Company Name Annual Report Year
CR Monitor Issue: 
2018/0407
Company covered: 
Carlsberg ASA
Period End: 
31 December, 2017
Report issued on 10 April 2018 covered the following practice issues:
Restatement
Inter segment transfer results in restatement of comparatives.
Change
Change in the calculation of Return on invested capital.
Pronouncements
Extended disclosure on new standards issued but not yet adopted namely IFRS 9 "Financial instruments" and IFRS 15 "Revenues from contracts with customers".
Pronouncements
Additional cash flow disclosure of changes in liabilities arising from financing activities.
Restatement
Restatement of comparative statement of changes in equity without explanation.

Koninklijke Philips N.V. Monitor

Koninklijke Philips N.V. Annual Report 2017
CR Monitor Issue: 
2018/0401
Company covered: 
Koninklijke Philips N.V.
Period End: 
31 December,2017
Report issued on 03 April 2018 covered the following practice issues:
Restatement
Prior year adjustment recognised in respect of tax understatement.
Change
Presentation changes to the income statement, statement of financial position and statement of cash flows.
Change
Business no longer identified as a reporting segment following its reclassification as a discontinued operation.
Pronouncements
Enhanced disclosure regarding the future impacts of IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".

Danske Bank A/S Monitor

Danske Bank A/S Annual Report 2017
CR Monitor Issue: 
2018/0319
Company covered: 
Danske Bank A/S
Period End: 
31 December, 2017
Report issued on 27 March 2017 covered the following practice issues:
Pronouncements
Detailed disclosures in respect of future impacts of new standards including quantification in respect of IFRS 9 "Financial instruments".
Change
Disclosure of the impact of inter-segment transfers.
Restatement
Restatement of statement of changes in equity without explanation.

Swisscom Ltd Monitor

Swisscom Ltd Annual Report 2017
CR Monitor Issue: 
2018/0309
Company covered: 
Swisscom Ltd
Period End: 
31 December, 2017
Report issued on 13 March 2018 covered the following practice issues:
Change
Changes in the presentation of the notes to the financial statement.
Restatement
Restructuring of operating segments.
Pronouncements
Quantified disclosure as to the future impacts of new standards, IFRS 9 and IFRS 15.

Hargreaves Lansdown plc Monitor

Hargreaves Lansdown plc Annual Report 2017
CR Monitor Issue: 
2018/0201
Company covered: 
Hargreaves Lansdown plc
Period End: 
30 June, 2017
Report issued on 6 February 2018 covered the following practice issues:
Change
Change in financial statements format to enhance understanding.
Change
Change in segment reporting in order to present a clear and appropriate view of the business.
Change
Inclusion of table disclosing carrying amount of financial instruments and their classification.
Change
Introduction of disclosure in respect of proposed changes to directors' remuneration policy.

Royal Dutch Shell PLC Monitor

Royal Dutch Shell PLC Annual Report 2016
CR Monitor Issue: 
2017/1107
Company covered: 
Royal Dutch Shell PLC
Period End: 
31 December, 2016
Report issued on 21 November 2017 covered the following practice issues:
Change
Change in segment reporting following an alteration to the business management structure.
Change
Financial instrument risk disclosures extended to include a value at risk analysis in respect of carbon emission rights trading.
Restatement
Restatement of amounts offset in respect of derivative contracts to align with a new netting methodology applied this year.
Change
Auditors include discussion of key audit matters in their report instead of areas of focus.
Divergence
No qualitative disclosure as to what goodwill recognised on a business acquisition represents.
Restatement
Restatement of statement of changes in equity in relation to shares held in trust.

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.