IAS 1 'Presentation of financial statements'

National Grid plc Monitor

National grid plc Annual Report 2018
CR Monitor Issue: 
2018/0809
Company covered: 
National grid plc
Period End: 
31 March, 2018
Report issued on 14 August 2018 covered the following practice issues:
Pronouncements
Extended disclosure as to the future impacts of IFRS 9 "Financial instruments" and IFRS 15 "Revenues from contracts with customers" including quantifcation.
Change
Multi-column income statement format adopted highlighting exceptional items and re-measurements.
Change
Re-classification of commodity derivative contracts in statement of financial position.
Change
Disclosure in respect of US tax changes including reduction of corporate income tax rate from 35% to 21%.

Whitbread plc Monitor

Whitbread plc Annual Report 2017-18
CR Monitor Issue: 
2018/0810
Company covered: 
Whitbread plc
Period End: 
1 March, 2018
Report issued on 14 August 2018 covered the following practice issues:
Change
Discussion on key audit matters included in auditors report.
Change
Disclosure in separate audit report sections of director and auditor responsibilities.
Change
Change in analysis of cash flows from operating activities.
Change
Acquisition costs linked to business combination recognised in the income statement as a non-underlying item.
Change
Extended disclosure of key performance indicators in the strategic report.

SKF AB

SKF AB 2017
CR Monitor Issue: 
2018/0807
Company covered: 
SKF AB
Period End: 
31 December, 2017
Report issued on 14 August 2018 covered the following practice issues:
Change
Change in presentation of income statement to reflect cash discounts in net sales rather than as an expense.
Pronouncements
Extended disclosure in respect of the future impact of IFRS 16 "Leases".
Restatement
Restatement of net sales by segment to reflect reallocation of businesses.
Change
Analysis of contingent liabilities altered to include liabilities in respect of tax claims.

Münchener Rückversicherungs-Gesellschaft AG Monitor

Münchener Rückversicherungs-Gesellschaft AG Annual Report 2017
CR Monitor Issue: 
2018/0724
Company covered: 
Münchener Rückversicherungs-Gesellschaft AG
Period End: 
31 December, 2017
Report issued on 31 July 2018 covered the following practice issues:
Pronouncements
Enhanced disclosure in respect of the impacts of new accounting standards including IFRS 17 "Insurance contracts", IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Change in classification of interest receivable not due.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising form financing activities following adoption of an amendment to IAS 7 "Statement of cash flows".
Pronouncements
Discussion of key audit matters included in the audit report.
Change
Change in segmental reporting structure linked to discontinuation of a business.
Change
Recognition of impairment reversal in respect of deferred acquisition costs.

Reckitt Benckiser Group plc

Reckitt Benckiser Group plc Annual Report 2017
CR Monitor Issue: 
2018/0716
Company covered: 
Reckitt Benckiser Group plc
Period End: 
31 December, 2017
Report issued on 24 July 2018 covered the following practice issues:
Change
Detailed disclosure in respect of discontinued operations.
Pronouncements
Presentation of a discussion on the impacts of new standards that are issued but not yet effective including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Pronouncements
Format of net debt reconciliation altered following adoption of amendment to IAS 7 "Statement of cash flows".
Change
Detailed disclosure in relation to business combination during the year including a qualitative description of what goodwill represents.
Change
Discussion of key audit matters included in the audit report.
Restatement
Restatement of segmental disclosures linked to business acquisition.

Anglo American plc Monitor

Anglo American plc Annual Report 2017
CR Monitor Issue: 
2018/0719
Company covered: 
Anglo American Plc
Period End: 
31 December, 2017
Report issued on 24 July 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the future impacts of IFRS 9 "Financial instruments" and IFRS 15 "Revenues from contracts with customers”.
Change
Disclosure of main risks linked to defined benefit pension scheme.
Restatement
Restatement of prior year deferred tax asset analysis.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities on adoption of amendment to IAS 7 "Statement of cash flows".
Change
Change in presentation basis of operating costs from by function to by nature.
Restatement
Restatement of segmental reporting information liked to business disposal.

Howden Joinery Group plc Monitor

Howden Joinery Group plc Annual Report 2017
CR Monitor Issue: 
2018/0707
Company covered: 
Howden Joinery Group plc
Period End: 
30 December, 2017
Report issued on 09 July 2018 covered the following practice issues:
Change
Audit report enhanced by inclusion of diagram illustrating the application of materiality.
Change
Audit report includes separate sections discussing director and auditor responsibilities.
Change
Financial statements presented for a period of longer than a year.
Change
Identification of pension actuarial assumptions as an area of accounting estimate and judgement.
Change
Identification of new principal risk in respect of health and safety.
Change
Format of risk heat map presented as part of risk disclosures altered.

Assa Abloy AB

Assa Abloy Annual Report 2017
CR Monitor Issue: 
2018/0701
Company covered: 
Assa Abloy Annual Report 2017
Period End: 
31 December, 2017
Report issued on 03 July 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of impacts of IFRS 9 "Financial instruments" and IFRS 15 "Revenues from contracts with customers".
Change
Additional disclosure of taxation in statement of comprehensive income.
Change
Finance lease assets identified as a separate class of property plant and equipment.

LafargeHolcim Ltd Monitor

LafargeHolcim Ltd Annual Report Year
CR Monitor Issue: 
2018/0617
Company covered: 
LafargeHolcim Ltd
Period End: 
31 December, 2017
Report issued on 20 June 2018 covered the following practice issues:
Pronouncements
Presentation of a reconciliation of movements in financing liabilities following adoption of amendment to IAS 7 "Statement of cashflows"
Change
Results of joint ventures reclassified within operating profit.
Change
Change in definition of highlighted measure of EBITDA.
Change
Auditors' report enhanced by inclusion of application of materiality and overview of audit scope sections.
Change
Introduction of a discussion on key risks in the strategic report.
Change
Summarised disclosure of proposed changes to the directors remuneration policy.

Centrica plc Monitor

Centrica plc Annual Report 2017
CR Monitor Issue: 
2018/0615
Company covered: 
Centrica plc
Period End: 
31 December, 2017
Report issued on 19 June 2018 covered the following practice issues:
Restatement
Change in presentation of exceptional items.
Pronouncements
Extended disclosure in respect of new accounting standards issued but not yet effective namely IFRS 9 "Financial instruments"and IFRS 17 "Insurance contracts".
Change
Discussion of key audit matters included in auditors' report.
Change
Enhanced risk disclosures including the presentation of risk framework and risk management diagrams.