Financial instruments

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.

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.

Grainger plc Monitor

Grainger plc Annual Report 2017
CR Monitor Issue: 
2018/0516
Company covered: 
Grainger plc
Period End: 
30 September, 2017
Report issued on 28 May 2018 covered the following practice issues:
Change
Audit report includes discussion of key audit matters.
Pronouncements
Extended disclosure in respect of new standards issued but not yet effective namely IFRS 9, IFRS 15, IFRS 16.
Change
Introduction of tabular disclosure illustrating the calculation of net debt and the loan to value ratio.
Change
Extended disclosure of principal risks includes identification of new risk areas.
Change
Presentation of a maturity analysis of amounts receivable as a lessor.
Change
Acquisition of properties and new funding arrangements disclosed as post balance sheet events.

Heineken N.V. Monitor

Heineken N.V. Annual Report 2017
CR Monitor Issue: 
2018/0519
Company covered: 
Heineken N.V.
Period End: 
31 December, 2017
Report issued on 22 May 2018 covered the following practice issues:
Pronouncements
Disclosure of impact of new standards issued but not yet adopted including quantification in respect of IFRS 15.
Change
Qualitative description of factors that make up business acquisition goodwill.
Change
Extended disclosure in respect of pension plan assets and obligations.
Change
Enhanced disclosure on fair value hedges includes maturity analysis.
Restatement
Change in segment measure of profit.
Change
Introduction of a reconciliation table showing movements in current interest bearing liabilities excluding bank overdrafts and commercial papers.

Swedbank AB Monitor

Swedbank AB Annual Report 2017
CR Monitor Issue: 
2018/0510
Company covered: 
Swedbank AB
Period End: 
31 December, 2017
Report issued on 05 May 2018 covered the following practice issues:
Change
Goodwill arising on business combination attributed to expected synergies.
Pronouncements
Disclosure of expected impact of new standards issued but not yet applicable namely IFRS 17 and IFRS 15.
Restatement
Restatement of net interest income and other general administrative expenses.
Restatement
Restatement of figures in respect of cash flow from financing activities.
New
Introduction of new disclosure on valuation categories of financial instruments.

IG Group Holdings plc Monitor

IG Group Holdings plc Annual Report 2017
CR Monitor Issue: 
2018/0501
Company covered: 
IG Group Holdings plc
Period End: 
31 May, 2017
Report issued on 1 May 2018 covered the following practice issues:
Restatement
Change in segment reporting structure including restatement of prior years.
Change
Presentation of a revenue breakdown by type of instrument.
Change
Cash flows related to purchase and maturity of investments disclosed on a net basis.
New
Presentation of a reconciliation table showing movement in the current corporation tax liability.
Restatement
Restatement of financial instrument offsetting disclosures.
Change
Change in the format of principal risk disclosures.

Wärtsilä Corporation Monitor

Wärtsilä Corporation Annual Report 2017
CR Monitor Issue: 
2018/0417
Company covered: 
Wärtsilä Corporation
Period End: 
31 December, 2017
Report issued on 23 April 2018 covered the following practice issues:
Restatement
Restatement of comparative cash flow statement without explanation.
Pronouncements
Early adoption of IFRS 9 “Financial instruments”.
Pronouncements
Extended disclosure in respect of IFRS 15 “Financial instruments”.
Change
Business combination goodwill attributed to acquired know-how and expertise.
Change
Disclosure of post balance sheet business combination.