Deferred tax

Qiagen NV

Qiagen NV Annual Report 2017
CR Monitor Issue: 
2018/0602
Company covered: 
Qiagen NV
Period End: 
31 December, 2017
Report issued on 06 June 2018 covered the following practice issues:
Pronouncements
Extended discussion in respect of IFRS 15.
Change
Disclosure of impact of changes in US tax laws.
Change
Detailed disclosure of multi-tranche bond issue.
Change
Auditors identify bond issue as a key audit matter.

Volvo AB Monitor

Volvo AB Annual Report 2017
CR Monitor Issue: 
2018/0523
Company covered: 
Volvo AB
Period End: 
31 December, 2017
Report issued on 29 May 2018 covered the following practice issues:
Pronouncements
Enhanced disclosure of impacts of new standards covering IFRS 9 and IFRS 15.
Pronouncements
Presentation of reconciliation of changes in loans following adoption of amendment in IAS 7.
Change
Disclosure of impact of change in tax laws on deferred tax.
Change
Enhanced disclosure on alternative performance measures.

Atlas Copco AB

Atlas copco Annual Report 2017
CR Monitor Issue: 
2018/0524
Company covered: 
Atlas Copco
Period End: 
31 December, 2017
Report issued on 29 May 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of new IFRS to be adopted i.e. IFRS 9 and 15.
Pronouncements
Reconciliation of movements in liabilities from financing activities presented following adoption of amendment to IAS 7.
Restatement
Prior period information restated following change in reporting segments.
Change
Post balance sheet disposals highlighted in subsequent events note.
Change
Disclosure of impacts on deferred tax of changes in tax rates.

Deutsche Telekom AG Monitor

Deutsche Telekom AG Annual Report 2017
CR Monitor Issue: 
2018/0520
Company covered: 
Deutsche Telekom AG
Period End: 
31 December, 2017
Report issued on 22 May 2018 covered the following practice issues:
Pronouncements
Disclosure of reconciliation of changes in liabilities arising from financing activities on adoption of amendment to IAS 7.
Pronouncements
Extended disclosure in respect of IFRS 15 “Revenue from contracts with customers”.
Change
Change in segment reporting structure.
Change
Discussion of key audit matters included in audit report.
Change
Change in the presentation of deferred tax information.
Restatement
Restatement of operating lease obligations.

Tate & Lyle PLC Monitor

Tate & Lyle PLC Annual Report 2017
CR Monitor Issue: 
2018/0305
Company covered: 
Tate & Lyle PLC
Period End: 
31 March, 2017
Report issued on 13 March 2018 covered the following practice issues:
Change
Exceptional impairment charge recognised in respect of business disposal.
Restatement
Finalisation of business combination asset values results in recognition of additional goodwill.
Change
Recognition of pension settlement gain.
Change
Deferred tax credit recognised in respect of tax losses.
Change
Goodwill impairment linked to lower growth expectations.
Pronouncements
Extended disclosure in respect of the future impacts of new accounting standards.

AVEVA Group plc

AVEVA Group plc Annual Report 2017
CR Monitor Issue: 
2018/0303
Company covered: 
AVEVA Group plc
Period End: 
31 March, 2017
Report issued on 06 March 2018 covered the following practice issues:
Change
Defined benefit pension scheme surplus presented separately on the face of the balance sheet.
Change
Deferred revenue disclosed separately from trade and other payables.
Change
Deferred tax classification altered.
Change
Detailed narrative description of proposed changes to directors' remuneration
Pronouncements
Revised FRC ethical standard results in change to non-audit services policy.
Change
Exceptional gain recognised in relation to a prior year business acquisition

Kingfisher PLC Monitor

Kingfisher PLC Annual Report 2017
CR Monitor Issue: 
2018/0114
Company covered: 
Kingfisher PLC
Period End: 
31 January, 2017
Report issued on 30 January 2018 covered the following practice issues:
Pronouncements
Extended disclosure on the impacts of IFRS 15, IFRS 16 and IFRS 9.
Change
Auditors' report enhanced by inclusion of a tabular summary of the audit approach.
Change
Disclosure of non-GAAP measures extended to include underlying as well as adjusted measures.
Change
Reconciliation of movements in provisions shows release of an unused amount following changes to restructuring plans.
New
Fair value gains recycled from other comprehensive income form part of profit on disposal.
Restatement
Analysis of deferred tax assets and liabilities by type restated to reflect more appropriate allocation of balances.

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.

Serco Group Plc Monitor

Serco Group Plc Annual Report 2016
CR Monitor Issue: 
2017/0611
Company covered: 
Serco Group Plc
Period End: 
31 December, 2016
Report issued on 27 June 2017 covered the following practice issues:
Change
Change in accounting policy relating to the foreign exchange movements on investment and financing arrangements.
Restatement
Restatement of prior year comparative segment assets and liabilities.
Change
Goodwill on acquisition of business attributed to preventing disruption to service users.
Change
Deferred tax disclosures enhanced to show amounts in respect of “onerous contract provisions” separate from “other temporary differences”.

The Go-Ahead Group plc Monitor

The Go-Ahead Group plc Annual Report 2016
CR Monitor Issue: 
2017/0514
Company covered: 
The Go-Ahead Group plc
Period End: 
2 July, 2016
Report issued on 30 May 2017 covered the following practice issues:
Change
Basis of calculation of adjusted earnings per share altered to exclude incremental impact of IAS 19.
Change
No explanation for a reporting period of 53 weeks instead of 52 weeks.
Change
Risk disclosures enhanced by introduction of "risk heat map".
Change
Disclosure of reconciliation of movements in deferred tax balances.
Pronouncements
Disclosure of unquantified impact of impending new leasing and revenue standards.