IAS 1 'Presentation of financial statements'

Aggreko Plc Monitor

Aggreko Plc Annual Report 2016
CR Monitor Issue: 
2017/0909
Company covered: 
Aggreko Plc
Period End: 
31 December, 2016
Report issued on 19 September 2017 covered the following practice issues:
Restatement
Change in contract organisational management structure leads to restatement of segment disclosures.
Change
Segment disclosures expanded to include geographic breakdown of revenue and non-current assets.
Change
Change in depreciation life of tangible fixed asset accounted for prospectively.
Pronouncements
Expanded disclosure of future impending impacts of new standard IFRS 15 "Revenue from contracts with customers" without quantification.
Change
Auditors discussion of audit scope enhanced by inclusion of pie charts.
Change
Sensitivity analysis included in discussion of area of significant judgement and estimate in relation to taxation.

Schroders plc Monitor

Schroders plc Annual Report 2016
CR Monitor Issue: 
2017/0905
Company covered: 
Schroders plc
Period End: 
31 December, 2016
Report issued on 08 September 2017 covered the following practice issues:
Change
Disclosure of key risks split into 4 risk categories including new strategic risk category.
New
Brexit and the impact of Global terrorism identified as two key threats to overall risk profile.
Change
Presentation of deferred tax enhanced to show amounts separately for individual temporary differences.
Change
Detailed explanation of what goodwill acquired in business combination represents.
Divergence
Aggregate disclosure of revenue and profit contribution of multiple businesses acquired rather than separate disclosure.
Change
Auditors identify acquisition accounting as an area of audit focus.

Tesco PLC Monitor

Tesco PLC Annual Report 2017
CR Monitor Issue: 
2017/0904
Company covered: 
Tesco PLC
Period End: 
25 February, 2017
Report issued on 08 September 2017 covered the following practice issues:
Change
Auditors identify "Tesco Bank payment fraud" as a risk of material misstatement.
Change
Balance sheet format altered to correctly present assets and liabilities as either current or non-current.
Change
Impairment recognised as adjusting post balance sheet event as part of discontinued operations.
New
Discussion of critical judgements introduced.
Restatement
Restatement of carrying amount of non-current liabilities within material joint venture to reflect credit risk valuation adjustments.

Koninklijke Philips N.V. Monitor

Koninklijke Philips N.V. Annual Report 2016
CR Monitor Issue: 
2017/0812
Company covered: 
Koninklijke Philips N.V.
Period End: 
31 December, 2016
Report issued on 22 August 2017 covered the following practice issues:
Restatement
Reclassification of all net defined-benefit post-employment plan obligations under long-term provisions.
Change
Cash flow from sale of non-controlling interest in previously wholly owned subsidiary reflected as arising from financing activities.
Restatement
Reporting segment information restated following a change in organisational structure.
Change
Change in reporting segment profit measure.
Pronouncements
Detailed un-quantified disclosure of future impacts of new revenue standard.
Pronouncements
Un-quantified disclosure of the future impact of new financial instruments standard.

Euromoney Institutional Investor PLC Monitor

Euromoney Institutional Investor PLC Annual Report 2016
CR Monitor Issue: 
2017/0806
Company covered: 
Euromoney Institutional Investor PLC
Period End: 
30 September, 2016
Report issued on 08 August 2017 covered the following practice issues:
Restatement
Segment reporting restated following implementation of new business strategy.
Change
Mutli-employer pension scheme accounted for as a defined benefit scheme for the first time.
Change
Auditors report extended by inclusion of disclosure of new areas of audit focus.
Change
Method of valuation disclosed in relation to business held for sale.
Change
Extended analysis of deferred income

Aviva plc Monitor

Aviva plc Annual Report 2017
CR Monitor Issue: 
2017/0712
Company covered: 
Aviva plc
Period End: 
31 December, 2016
Report issued on 25 July 2017 covered the following practice issues:
Restatement
Prior period correction recognised in respect of management charge rebates.
Pronouncements
Disclosure as per Solvency II capital adequacy regulation added on adoption.
Change
Enhancement of risk disclosure by inclusion of tabular presentation for risk preferences.
New
Introduction of a table showing principal risk trends.

Standard Life plc Monitor

Standard Life plc Annual Report 2016
CR Monitor Issue: 
2017/0710
Company covered: 
Standard Life plc
Period End: 
31 December, 2016
Report issued on 25 July 2017 covered the following practice issues:
Change
New class of provisions raised in respect of liability linked to enhanced annuities.
Change
Business acquisition results in bargain purchase gain.
Change
Tabular presentation of principal risk factors extended to include two new risks in respect of Investment performance’ and ‘strategic transition and delivery.
Pronouncements
Capital management disclosures enhanced by inclusion of statement of compliance with the Solvency II regulatory regime.

Carillion plc Monitor

Carillion plc Annual Report 2016
CR Monitor Issue: 
2017/0708
Company covered: 
Carillion plc
Period End: 
31 December, 2016
Report issued on 18 July 2017 covered the following practice issues:
Restatement
Finalisation of business acquisition fair values including contingent consideration leads to change in goodwill.
Change
Revenue recognition under licensing agreements identified as a risk of material misstatement by the auditors.
New
Introduction of discussion on alternative performance measures.
Change
Non-recurring items including restructuring costs highlighted separately.
Pronouncements
Improved discussion on new standards covering leases, revenue from contracts with customers and financial instruments.
Change
Brexit identified as new risk factor within tabular disclosure of principal risks.

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.

William Hill PLC Monitor

William Hill PLC Annual Report 2016
CR Monitor Issue: 
2017/0705
Company covered: 
William Hill PLC
Period End: 
27 December, 2016
Report issued on 11 July 2017 covered the following practice issues:
Change
Income statement format altered to highlight adjustments to statutory results other than exceptional items.
Change
Newly recognised financial instruments categorised in line with IAS 39.
Change
Detailed breakdown of fair value of assets and liabilities in respect of a 100% business acquisition.
Change
Identification of "transformation programme" as a new principal risk factor.
Restatement
Segment reporting restated following merger of "Telephone" and "Online" segments.