Contingencies

Bayerische Motoren Werke AG Monitor

Bayerische Motoren Werke AG Annual Report 2017
CR Monitor Issue: 
2018/0618
Company covered: 
Bayerische Motoren Werke AG
Period End: 
31 December, 2017
Report issued on 20 June 2018 covered the following practice issues:
Pronouncements
Disclosure of financial impact of new accounting standards issued but not yet effective: IFRS 9 "Financial instruments", IFRS 15 " Revenues from contracts with customers" and IFRS 16 "Leases".
Pronouncements
Disclosure of changes in liabilities arising from financing activities in line with amendment to IAS 7 “Statement of cash flows”.
Change
Inclusion of a discussion on key audit matters in the auditors' report.
Change
Introduction of a table disclosing the valuation method and the inputs used for level 3 financial instruments.
Change
Increased disaggregation of contingent liabilities analysis.
New
Disclosure of directors remuneration enhanced by inclusion of remuneration analysis diagram.

The Unilever Group Monitor

The Unilever Group Annual Report 2017
CR Monitor Issue: 
2018/0511
Company covered: 
The Unilever Group
Period End: 
31 December, 2017
Report issued on 15 May 2018 covered the following practice issues:
Change
Change in measure of segment profit.
Change
Enhanced disclosure of assets held for sale.
Change
Detailed discussion added on climate change risk.
Change
Tabular presentation of contingent liabilities introduced.
Change
Amounts in respect of material business combination disclosed separately.
Pronouncements
Enhanced disclosure in respect of new standards including some quantification.

Vestas Wind Systems A/S Monitor

Vestas Wind Systems A/S Annual Report 2017
CR Monitor Issue: 
2018/0502
Company covered: 
Vestas Wind Systems A/S
Period End: 
31 December, 2017
Report issued on 01 May 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of new accounting standards IFRS 15 and IFRS 16.
Change
Extension of risk disclosures.
Change
Disclosure of contingent liability relating to legal claim.
Change
Disclosure of a sale and lease back transaction.
Change
Disclosure of information in respect of post balance sheet business combination.

Beiersdorf AG Monitor

Beiersdorf AG Annual Report 2016
CR Monitor Issue: 
2017/0501
Company covered: 
Beiersdorf AG
Period End: 
31 December, 2016
Report issued on 2 May 2017 covered the following practice issues:
Pronouncements
Discussion of future impacts of IFRS 16 "Leases" added to accounting policies note.
New
Disclosure of risks extended by inclusion of risk radar diagram and a discussion of risk rankings.
Change
Extended disclosure of contingent liabilities in respect of the legal risk of pending litigation.

Victrex plc Monitor

Victrex plc Annual Report 2016
CR Monitor Issue: 
2017/0305
Company covered: 
Victrex plc
Period End: 
30 September, 2016
Report issued on 14 March 2017 covered the following practice issues:
Change
Disclosure of estimates and judgements extended to include information in respect of provisions and contingencies.
Change
Disclosure of proposed changes to directors' remuneration policy.

BTG plc Monitor

BTG plc Annual Report 2016
CR Monitor Issue: 
2017/0108
Company covered: 
BTG plc
Period End: 
31 March, 2016
Report issued on 17 January 2016 covered the following practice issues:
Change
Change in the remuneration policy sees potential total variable remuneration as percentage of salary fall.
Change
Clarity of principal risk disclosures enhanced by use of tabular format.
New
Explicit statement made that it is not practical to quantify new contingent liability in respect of government investigation.
Change
Auditors' identify contingent liability as new area of risk of material misstatement.
Change
Deferred tax information enhanced by disclosure of individual temporary difference income statement impacts.
New
Residual interest in intangible contractual right acquired.

Experian plc Monitor

Experian plc Annual Report 2016
CR Monitor Issue: 
2016/1001
Company covered: 
Experian plc
Period End: 
31 March, 2016
Report issued on 3 October 2016 covered the following practice issues:
Change
Change in income statement format to include non-GAAP measures.
Change
Amortisation expense split into "Benchmark" and "Non-benchmark" expense.
Change
Extended corporate governance code disclosures.
New
Disclosure of contingent liability following data security breach.
Restatement
Contingent consideration included in fair value hierarchy represents correction of a prior year error.
Change
Related party disclosures extended to include transactions with pension plan.

Senior plc Monitor

Senior plc Annual Report 2015
CR Monitor Issue: 
2016/0702
Company covered: 
Senior plc
Period End: 
31 December, 2015
Report issued on 26 July 2016 covered the following practice issues:
New
Business unit classified as held for sale following the signing a sale agreement.
New
Two non-quantified contigencies are disclosed.
Change
Separate line item introduced for current tax recievables on the face of the balance sheet.
Change
Extended disclosure of goodwill impairment test long-term growth rate assumptions.
Change
Intangible asset category "Intangible assets from acquisition" includes customer relationships previously presented separately.
New
Introduction of a new vision for sustainability.

Synergy Health plc Monitor

Synergy Health plc Annual Report 2015
CR Monitor Issue: 
2016/0106
Company covered: 
Synergy Health plc
Period End: 
29 March, 2015
Report issued on 22 January 2016 covered the following practice issues:
Change
Segmental information restated as a result of reorganisation.
Change
Contingency disclosed relating to performance condition on advisor's services.

Centamin plc Interims Monitor

Interim Financial Report
CR Interim Monitor Issue: 
2014/0506
Period End: 
30 June 2013
Listing Status: 
FTSE Mid 250
ICB Industry Classification: 
1777 Gold Mining
Auditor: 
Deloitte
Pronouncements
Additional disclosure on fair value of available for sale financial asset.
Change
Government decision to end fuel subsidies reduces profit by 16.9%.
Change
Legal case on right to operate in Egypt leads to auditor's emphasis of matter.
Change
Prepayment asset explained by reference to recoverability of advance.