Financial instruments

Hunting PLC Monitor

Hunting PLC Annual Report 2017
CR Monitor Issue: 
2018/0801
Company covered: 
Hunting PLC
Period End: 
31 December, 2017
Report issued on 7 August 2018 covered the following practice issues:
Change
Audit report includes separate sections discussing director and auditor responsibilities.
Pronouncements
Extended disclosure in respect of the impacts of new accounting standards: IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Restatement
Restatement of segmental information linked to change in management structure.
Change
Change in disclosure of directors remuneration policy including separate disclosure of performance metrics.
Restatement
Restatement of fair value disclosures.

Yara International ASA Monitor

Yara International ASA Annual Report 2017
CR Monitor Issue: 
2018/0718
Company covered: 
Yara International ASA
Period End: 
31 December, 2017
Report issued on 24 July 2018 covered the following practice issues:
Pronouncements
Disclosure of impact of new standards namely IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers", and IFRS 16 "Leases".
Change
Extended disclosure in respect of restructuring provision linked to decision to close industrial site.
Change
Extended disclosure in respect of contingent liabilities and contingent assets.
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of amendment to IAS 7 "Statement of cash flows"
Restatement
Restatement of gains and losses on financial instruments without explanation.
Restatement
Restatement of quantitative information linked to liquidity and currency risk disclosures.

Legal & General Group plc Monitor

Legal & General Group plc Annual Report 2017
CR Monitor Issue: 
2018/0717
Company covered: 
Legal & General Group plc
Period End: 
31 December, 2017
Report issued on 24 July 2018 covered the following practice issues:
Change
Detailed disclosure in respect of business classified as discontinued operation.
Pronouncements
Disclosure of the impacts of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers", IFRS 16 "Leases" and IFRS 17 "Insurance contracts".
Pronouncements
Presentation of a reconciliation of movements in liabilities arising from financing activities following adoption of amendment to IAS 7 "Statement of cash flows".
Restatement
Amounts reclassified from cash and cash equivalents to financial investments following an assessment of their maturity.
Change
Segmental reporting information restated following reclassification of business as a discontinued operation.
Change
Reverse repurchase agreements reclassified as financial assets.

Hammerson plc Monitor

Hammerson plc Annual Report 2017
CR Monitor Issue: 
2018/0714
Company covered: 
Hammerson plc
Period End: 
31 December, 2017
Report issued on 17 July 2018 covered the following practice issues:
Pronouncements
Enhanced disclosure in respect of new accounting standards including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Net exchange gain re-classified to profit and loss account.
Restatement
Restatement of cash flow from operating activities to investing activities.
Change
Enhanced disclosure of accounting policies in relation to disposals and derivatives.
Change
Extended disclosure in respect of pensions scheme including asset and sensitivity analysis information.
Change
Disclosure of key inputs employed in the valuation of Level 3 financial instruments. .

Clariant Ltd Monitor

Clariant Ltd Annual Report 2017
CR Monitor Issue: 
2018/0708
Company covered: 
Clariant Ltd
Period End: 
31 December, 2017
Report issued on 10 July 2017 covered the following practice issues:
Pronouncements
Extended disclosure in respect of new standards issued but not yet applicable including IFRS 9 "Financial instruments", IFRS 15 "Revenues from contracts with customers" and IFRS 16 "Leases".
Change
Enhanced disclosure in respect of exchange rate policy.
Change
Reclassification of income taxes in the cash flow statement.
Change
Extended disclosure of key audit matters in the auditors' report.
Change
Reclassification of liabilities to a non-current classification to reflect maturity profile.
Change
Extended disclosure of revenue recognition policy.

RSA Insurance Group plc Monitor

RSA Insurance Group Annual Report 2017
CR Monitor Issue: 
2018/0706
Company covered: 
RSA Insurance Group
Period End: 
31 December, 2017
Report issued on 09 July 2018 covered the following practice issues:
Change
Discussion of key audit matters included in audit report including identification of the recoverability of the parent company's investments in subsidiaries as a key audit matter.
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
Newly issued loan notes included as part of equity.
Restatement
Restatement of analysis of other operating income without explanation.
Change
Additional insurance contracts reconciliation presented showing movements in deferred acquisition costs.

Beazley plc Monitor

Beazley plc Annual Report 2017
CR Monitor Issue: 
2018/0616
Company covered: 
Beazley plc
Period End: 
31 December, 2017
Report issued on 20 June 2018 covered the following practice issues:
Pronouncements
Extended disclosure in respect of the future impacts of new standards: IFRS 17 "Insurance contracts"; IFRS 16 "Leases"; IFRS 9 "Financial instruments"; and IFRS 15 "Revenues from contracts with customers".
New
Recognition of intangible assets following a business combination.
Restatement
Restatement of segmental reporting structure.
Change
High yield bond funds included in analysis of unconsolidated structured entities.
Change
Auditors' report includes separate sections discussing director and auditor responsibilities.
Change
Extended disclosure of principal risks.

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.

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.

Cobham plc Monitor

Cobham plc Annual Report 2017
CR Monitor Issue: 
2018/0609
Company covered: 
Cobham plc
Period End: 
31 December, 2017
Report issued on 12 June 2018 covered the following practice issues:
Pronouncements
Change in policy in respect of income tax interest and penalties linked to IFRS Interpretations Committee agenda decision.
Pronouncements
Adoption of amendment to IAS 7 "Statement of cash flows" results in additional disclosure in respect of changes in liabilities arising from financing activities.
Pronouncements
Extended disclosure in respect of the impacts of new accounting standards.
Restatement
Restatement of basic and diluted EPS linked to rights issue.
Restatement
Restatement of segment disclosures following allocation of profits and net assets.